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.
Image Source : Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index climbed off its worst levels going into the close but still ended the day down 35.35 points or 0.1 percent at 25,534.49. Macro Update: The traders looked ahead to the release of the U.S. Labor Department's closely watched monthly employment report on Friday. The report, which is expected to show employment climbed by 170,000 jobs in January after jumping by 256,000 jobs in December, could impact the outlook for interest rates. Top Movers: Oil-linked equities led the decline, with Canadian Natural, Suncor, and Cenovus falling between 0.8% and 2.3%, including Suncor despite surpassing market expectations for fourth-quarter profit, benefiting from higher oil production and strong refined product sales. Additionally, e-commerce mega cap Shopify tumbled 2.5%, weighing heavily on the index. …
Image Source : Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index settled with a gain of 290.49 points or 1.15% at 25,569.84, rising for the second consecutive day following the U.S. President Donald Trump agreeing to hold off tariffs against Canadian imports by a month. Macro Update:In economic news, the S&P Global Canada Composite PMI improved to 49.5 in January 2025, up from 49.0 in December. The S&P Global Canada Services PMI recorded 49.0 in January 2025, slightly up from 48.2 in December 2024. Canada posted a trade surplus of C$0.7 billion in December of 2024, after recording an upwardly revised deficit of C$1 billion in November. Exports of goods jumped by 4.9% from the previous month to C$69.5 billion, while imports rose by 2.3% to a record …
Image Source : Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index, which climbed to 25,446.17, gaining more than 200 points in the process, pared most of its gains and ended the session just 37.59 points or 0.15% up at 25,279.35. Macro Update:Still, with the U.S. and China slapping levies on each other, worries about global economic outlook lingered, rendering the mood cautious. Top Movers: Mattr Corp (MATR.TO), Transcontinental (TII.TO), New Gold (NG.TO), Hudbay Minerals (HBM.TO), Bombardier Inc (BBD.B.TO), MEG Energy (MEG.TO), Crescent Point Energy (CPG.TO), Oceanagold (OGC.TO), Real Matters (REAL.TO) and Precision Drilling (PD.TO) moved up 3 to 4%. Our Stance: From a technical standpoint, the index is well above its 21-period Simple Moving Average (SMA), signaling a bullish trend that suggests further potential upside. The Relative Strength Index (RSI) …
Image Source : Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index, which plunged nearly 800 points to 24,742.92 in early trades, ended the day's session with a loss of 291.34 points or 1.14% at 25,241.76. Macro Update:On the economic front, a report from S&P Global said, the S&P Global Canada Manufacturing PMI fell to 51.6 in January, down from 52.2 a month earlier, signaling a slower expansion. The reading dropped for a fifth straight month. Top Movers: Equinox Gold Corp (EQX.TO) climbed 8.7%. Aura Minerals (ORA.TO) rallied 6.5%. Iamgold Corp (IMG.TO), Pan American Silver Corp (PAAS.TO), Wesdome Gold Mines (WDO.TO), Alamos Gold Inc (AGI.TO), Agnico Eagle Mines (AEM.TO), Kinaxis Inc (KXS.TO), Dundee Precious Metals (DPM.TO), Seabridge Gold (SEA.TO), Lundin Gold (LUG.TO), Waste Connections (WCN.TO) and Wheaton Precious Metals (WPM.TO) …
Image Source : Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index ended with a loss of 275.15 points or 1.07% at 25,533.10. The index gained 0.25% in the week. Macro Update:Data from Statistics Canada showed Canadian real gross domestic product decreased 0.2% in November. According to preliminary estimates, the economy rebounded in December and GDP likely grew 0.2%. Top Movers: Molson Coors Canada (TPX.A.TO) plunged 9%. Finning International (FTT.TO) closed down 6.5%. Propel Holdings (PRL.TO), BRP Inc (DOO.TO), MTY Food Group (MTY.TO), Russel Metals (RUS.TO), Magna International (MG.TO) and Linamar Corporation (LNR.TO) lost 4 to 5.1%. Our Stance: Traders will be watching the 25,000 level closely, as it represents immediate support. If the index maintains its position above this mark, there could be a potential for a bounce back. However, a break …
Image Source : Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index ended with a solid gain of 334.95 points or 1.31% at 25,808.25. The index scaled a fresh record high of 25,875.61 in the session. Macro Update:Data from Statistics Canada said average weekly earnings of non-farm payroll employees in Canada rose by 5% year-on-year to $1,285.91 in November 2024, the most in five months, following an upwardly revised 4.2% growth in October. Top Movers: Sangoma Technologies (STC.TO) rallied 5.5%. CGI Group (GIB.A.TO), Bitfarms (BITF.TO), Open Text Corp (OTEX.TO), Shopify Inc (SHOP.TO), Coveo Solutions (CVO.TO) and Lightspeed Commerce (LSPD.TO) gained 2 to 4.1%. Our Stance: From a technical perspective, the index remains in a favorable position, trading above its 21-period Simple Moving Average (SMA), which is indicative of a bullish trend. …
Image Source : Krish Capital Pty Ltd Index Update: TSX Ends Modestly Higher After BoC Rate Decision. The benchmark S&P/TSX Composite Index settled higher by 53.85 points or 0.21% at 25,473.30. The index dropped to 25,361.26 after the Fed announced its monetary policy but regained lost ground subsequently. Macro Update:The Bank of Canada lowered interest rates by a quarter point, as widely expected. With this the overnight rate has dropped to 3%, the bank rate to 3.25% and the deposit rate to 2.95%. Top Movers: Tenaz Energy Corp (TNZ.TO) gained about 5.4%. MAG Silver Corp (MAG.TO), Rogers Communications (RCI.A.TO), MEG Energy Corp (MEG.TO), Capital Power Corporation (CPX.TO), Metro Inc (MRU.TO), Pan American Silver Corp (PAAS.TO), Cameco Corporation (CCO.TO) and First Quantum Minerals (FM.TO) closed higher by 3 to 4.5%. Our Stance: From a …
Image Source : Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index closed up 130.30 points or 0.52% at 25,419.45, after scaling a low of 25,277.05 and a high of 25,425.86 intraday. Macro Update: Investors now await monetary policy announcement from the Bank of Canada. The central bank is widely expected to cut interest rate on Wednesday. The Federal Reserve is also scheduled to announce its monetary policy tomorrow. The Fed is likely to hold rates, but the focus is on the accompanying statement. Top Movers: Blackberry (BB.TO) gained 6.5% and Sylogist (SYZ.TO) ended 3.8% up. Open Text Corp (OTEX.TO), Constellation Software (CSU.TO), Dye & Durham (DND.TO), Lightspeed Commerce (LSPD.TO), Kinaxis Inc (KXS.TO), Enghouse Systems (ENGH.TO) and CGI Group Inc (GIB.A.TO) closed higher by 1.3 to 3%. Our Stance: From a technical …
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