A concise overview of the day's financial market activity, highlighting key stock movements, trends, and major events. Stay updated on market performance and critical shifts that impact your investments.
Index Update: The Canadian stocks skyrocketed in reaction to President Donald Trump's announcement of a 90-day tariff pause. The benchmark S&P/TSX Composite Index spiked 1,220.13 points or 5.4 percent to 23,727.03, showing a substantial rebound after ending the previous session at its lowest closing level since last August. Macro Update: President Donald Trump's announcement of a 90-day tariff pauses and White House official later clarified tariffs would be brought down to a "universal 10 percent" on most countries, including Canada. Top Movers: The rebound was driven by strong gains across heavyweight sectors, particularly energy, with Canadian Natural, Suncor, Imperial Oil, and Cenovus surging between 6% and 11.8% amid recovering crude prices. Technology and financial stocks also staged a solid recovery, led by a 17.5% surge in Shopify and an 11.7% advance in Brookfield. Meanwhile, major mining equities continued to benefit from elevated bullion prices. Our Stance: Despite the impressive rebound, the index remains below its 21-period Simple Moving Average (SMA), suggesting that downward momentum and selling pressure persist. A key support level is located at 23,400, marked by a significant horizontal trendline that could act as a floor for price stabilization. Holding above this level may pave the way for
Index Update: After failing to sustain an early move to the upside, Canadian stocks once again came under pressure over the course of the trading session on Tuesday. The S&P/TSX Composite Index slumped 352.56 points or 1.5 percent to 22,506.90, hitting its lowest closing level since last August. Macro Update: A White House official told CNBC the effective tariff rate on China will spike to 104 percent at midnight, when Trump's other "reciprocal tariffs" are also set to take effect. Canada announced that from tomorrow, certain U.S. vehicles entering the country will incur 25% tariffs, further fueling fears of a broader trade conflict. Developments on the tariff front are likely to remain in the spotlight on Wednesday, while traders are also likely to keep an eye on the minutes of the latest Federal Reserve meeting. Top Losers: All nine major sectors closed in the red, with energy producers leading the decline as heavyweights Canadian Natural, Suncor, Imperial Oil, and Cenovus posted sharp losses ranging from 2.4% to 5.3%. Our Stance: The pronounced sector weakness intensified bearish sentiment, pushing the index further below its 21-period Simple Moving Average (SMA), a sign of sustained downward momentum. Key support sits at 22,200, a
Index Update: Canadian stocks showed another significant move to the downside during trading on Monday. The benchmark S&P/TSX Composite Index recovered from an early plunge and briefly turned positive but ended the day down 334.01 points or 1.4 percent at 22,859.46. Macro Update: Adding to worries about a global trade war, Trump threatened to impose an additional 50 percent tariff on Chinese goods unless the country withdraws its new 34 percent tariff on U.S. goods The yield on the Canadian 10-year government bond has surged above 3%, rebounding sharply from a near two-year low of 2.83% recorded in early March, as investors demand a higher risk premium amid shifting global risk assessments and mounting domestic challenges. Top Losers: Energy and mining stocks were hit particularly hard, with major players such as Canadian Natural and Imperial Oil shedding 3.6% and 2.7%, respectively, while financial and mining giants like RBC, TD Bank, BMO, and Scotiabank also recorded significant declines of 1.1% to 4.6%. Our Stance: the index continues to trade below its 21-period Simple Moving Average (SMA), reflecting persistent downward momentum and ongoing selling pressure. A crucial support level lies at 22,500, a major horizontal trendline that could serve as a potential
Index Update: After plunging by 3.8 percent on Thursday, the benchmark S&P/TSX Composite Index plummeted 1,142.30 points or 4.7 percent to a nearly seven-month closing low of 23,193.47. Macro Update: Canada and the European Union are also purportedly preparing countermeasures, leading to concerns about a trade war that could fuel inflation and damage the global economy. China's finance ministry announced a 34 percent tariff will be imposed on all imported goods originating from the U.S. beginning on April 10th On the economic front, Statistics Canada released a report showing Canadian employment fell by 33,000 jobs in March. The unemployment rate also ticked up 0.1 percentage point to 6.7 percent. Top Losers: Canadian energy giants suffered steep losses, with Canadian Natural dropping 6.7%, Suncor falling 8.8%, Imperial Oil down 6.7%, and Cenovus plunging 11.9%. Moreover, heavyweight tech, financial, and mining equities such as Shopify (-5.6%), Brookfield (-7.2%), and Wheaton Precious (-8.8%) also recorded significant declines. Our Stance: The index continues to trade below its 21-period Simple Moving Average (SMA), reinforcing the prevailing downtrend and signaling persistent selling pressure. The key support level to watch is 24,100, which aligns with a critical horizontal trendline. Holding this level could provide a base for
Index Update: The sell-off on Bay Street came amid concerns about a global trade war after President Donald Trump outlined his plan to impose sweeping tariffs on U.S. trade partners. The benchmark S&P/TSX Composite Index plunged early in the session and remained sharply lower throughout the day before closing down 971.41 points or 3.8 percent at 24,335.77. Macro Update: Trump's "reciprocal tariff" plan calls for a baseline 10 percent tariff to be imposed on all U.S. imports except those compliant with the United States-Mexico-Canada Agreement. The Canadian domestic data showcased a 5.5% decline in merchandise exports in February and a shrinking trade balance that shifted from a $3.1 billion surplus in January to a $1.5 billion deficit. Top Losers: Notably, tech, financial, and energy producers have been hit hard, with Shopify tumbling 19.6%, Brookfield off 8.9%, and Imperial Oil dropping 8.1%, leading their respective sector's decline. Our Stance: The index continues to trade below its 21-period Simple Moving Average (SMA), reinforcing the prevailing downtrend and signaling persistent selling pressure. The key support level to watch is 24,100, which aligns with a critical horizontal trendline. Holding this level could provide a base for stabilization and a potential recovery. However, a decisive
Index Update: After ending yesterday's volatile session mostly higher, Canadian stocks saw further upside over the course of the trading day on Wednesday. The benchmark S&P/TSX Composite Index moved to the downside early in the session but showed a significant turnaround to end the day up 273.90 points or 1.1 percent at 25,307.18. Macro Update: The yield on the Canadian 10-year government bond fell past 2.95%, nearing the two-year low of 2.83% seen in early March, as weak economic data and escalating trade tensions heightened expectations of further monetary easing. Top Movers: The tech sector enjoyed a respite, with Shopify (+3.2%), Constellation Software (+3%), CGI (+1.3%), and Celestica (+4.3%) posting strong gains, while financial heavyweights such as RBC, TD Bank, Brookfield, BMO, and Scotiabank added around 1% each. Our Stance: Currently, the index is testing a key support level of around 25,000. Holding above this threshold is crucial to sustaining upward momentum, while a drop below could trigger a pullback toward support zones between 24,800 and 24,500. Maintaining these levels will be vital for continued growth. Commodity Update: The dollar weakened broadly on Thursday, and the euro gained strength after President Donald Trump announced aggressive tariffs, including a 10% baseline
Index Update: The benchmark S&P/TSX Composite Index spent the day bouncing back and forth across the unchanged line before eventually closing up 115.78 points or 0.5 percent at 25,033.28. Macro Update: Data from S&P Global said the S&P Global Canada Manufacturing PMI fell to 46.3 in March from 47.8 in the previous month, pointing to a further deterioration in factory activity, pressured by contractions in both output and new orders. A report from the Washington Post this morning said White House aides have drafted a proposal to impose tariffs of around 20 percent on most imports to the U.S. Top Movers: E-commerce giant Shopify rose 2.1%, snapping a four-day losing streak, while Brookfield Corporation advanced 2.2%, bolstering the financial sector. A corporate standout was First Quantum, which jumped 4.9% after settling arbitration disputes over its Cobre Panama mine. Our Stance: Currently, the index is testing a key support level around 24,900. Holding above this mark could pave the way for continued gains, while a break below it may trigger a retracement toward support zones between 24,700 and 24,500. Maintaining levels above these thresholds will be crucial for sustaining bullish sentiment and unlocking potential upside in the near term. Commodity Update:
Index Update: After opening with a negative gap and falling further in early trades, the Canadian market emerged into positive territory on Monday, led by gains in consumer staples, energy, communications and consumer discretionary sectors. The benchmark S&P/TSX Composite Index, which tumbled to 24,534.35, losing about 225 points, was up 56.47 points or 0.23% at 24,815.62 at noon. Macro Update: The yield on the US 10-year Treasury note hovered around 4.2% on Tuesday after falling for two consecutive sessions, as President Donald Trump's trade escalations clouded the economic outlook, boosting demand for safe haven assets. Top Movers: Molson Coors Canada, Empire Company, Cogeco, Loblaw Companies, Metro Inc., George Weston, Intact Financial Corporation, Cogeco Communications, RB Global, Imperial Oil, Great-West Lifeco and ATCO are up 2 to 3%. Our Stance: The index remains in a favorable position, trading comfortably above its 21-period Simple Moving Average (SMA), reinforcing the bullish trend. Currently, the index is testing a key support level around 24,700. Holding above this mark could pave the way for continued growth, while a drop below may introduce retracement risks, with critical support zones between 24,400 and 24,200. Commodity Update: The dollar remained steady on Tuesday after a tough quarter as
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