Daily-Wrap

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.

The TSX ended the day's session on a slightly positive note

Image Souce: Krish Capital Pty Ltd Index Update: Canadian stocks tumbled Tuesday morning, hurt by hot inflation data and escalating geopolitical tensions, but recovered gradually to eventually end the day's session on a slightly positive note. The benchmark S&P/TSX Composite Index, which dropped nearly 200 points to 24,787.79 in early trades, settled at 25,010.77, gaining 33.83 points or 0.14%. Macro Update: Data from Statistics Canada showed the annual inflation rate in Canada rose to 2% in October from an over-three-year low of 1.6% in the previous month. The consumer price index increased 0.4% in October over the previous month. The annual core inflation rate in Canada increased to 1.7% in October, up from 1.6% a month earlier. On a monthly basis, core consumer prices rose by 0.4% in October, after being flat …

By: Team Kalkine | Nov 20, 2024 | Read Time : 10 Mins

The Canadian market closed on a firm note on Monday

Index Update: The Canadian market closed on a firm note on Monday, lifted by gains in energy and materials stocks as commodity prices climbed higher amid an escalation in the Russia - Ukraine war. The benchmark S&P/TSX Composite Index, which climbed to 25,082.87, ended with a gain of 86.26 points or 0.35% at 24,976.94. Macro Update: On the economic front, data from Canada Mortgage & Housing Corporation showed housing starts in Canada increased by 7.8% month-over-month to 240,761 units in October, the highest level in three months. Top Movers: Methanex Corporation (MX.TO), Capital Power Corporation (CPX.TO), Stella-Jones (SJ.TO), Teck Resources (TECK.B.TO), Bank of Nova Scotia (BNS.TO), Sprott Inc (SII.TO), TerraVest Industries (TVK.TO), Bombardier Inc (BBD.B.TO), GFL Environmental (GFL.TO) and Celestia Inc (CLS.TO), Restaurant Brands International (QSR.TO) and CGI Inc (GIB.A.TO) closed up 1.5 …

By: Team Kalkine | Nov 19, 2024 | Read Time : 10 Mins

The Canadian market ended notably lower on Friday

Index Update: The benchmark S&P/TSX Composite Index, which opened at 25,004.49 and dropped to a low of 24,814.91 around mid afternoon, ended the day's session at 24,890.68 with a loss of 158.99 points or 0.63%. The index posted a modest gain for the week. Macro Update: Data from Statistics Canada showed manufacturing sales in Canada decreased 0.5% month-over-month in September, less than initial estimates of a 0.8% drop and following a 1.3% fall in August. Wholesale sales in Canada declined 0.8% month-over-month in September, less than preliminary estimates of a 0.9% rise, and reversing the 0.6% decline in August. Top Movers: Pollard Banknote (PBL.TO) climbed 10.5%. Vermilion Energy (VET.TO) gained 6.8%. Maple Leaf Foods (MFI.TO) closed up 5.2%. Aecon Group (ARE.TO), CI Financial Corp (CIX.TO), Parklans Corporation (PKI.TO), Imperial Oil (IMO.TO), Precision Drilling …

By: Team Kalkine | Nov 18, 2024 | Read Time : 10 Mins

The Canadian market settled higher on Thursday

Image Souce: Krish Capital Pty Ltd Index Update: The Canadian market settled higher on Thursday with the benchmark S&P/TSX Composite Index moving on to a new record high. The benchmark S&P/TSX Composite Index, which climbed to a new all-time high of 25,137.70, settled with a gain of 60.65 points or 0.24% at 25,049.67, closing past the 25,000 mark for the first time. Macro Update: The U.S Labor Department released a report this morning showing first-time claims for U.S. unemployment benefits unexpectedly edged lower in the week ended November 9th. The report said initial jobless claims slipped to 217,000, a decrease of 4,000 from the previous week's unrevised level of 221,000. Economists had expected jobless claims to inch up to 223,000. Top Movers: Pollard Banknote (PBL.TO) climbed 10.5%. Vermilion Energy (VET.TO) gained 6.8%. Maple …

By: Team Kalkine | Nov 15, 2024 | Read Time : 10 Mins

The Canadian market posted a new record closing high

Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index closed up 66.01 points or 0.26% at 24,989.02. The index touched a low of 24,860.56 and a high of 25,002.96 in the session. Macro Update: Data from the Labor Department said the consumer price index crept up by 0.2% in October. The report also said the annual rate of consumer price growth accelerated to 2.6% in October from 2.4% a month earlier. The rate of core consumer price growth was unchanged from the previous month at 3.3%, which was also in line with estimates. Top Movers: CAE Inc (CAE.TO) ended with a big gain of 12%. Shopify Inc (SHOP.TO), Tecsys Inc (TCS.TO), Hammond Power Solutions (HPS.A.TO), Hut 8 Corp (HUT.TO), ATS Corporation (ATS.TO) and Molson Coors Canada (TPX.B.TO) gained 3 …

By: Team Kalkine | Nov 14, 2024 | Read Time : 10 Mins

The Canadian market closed on a firm note

Image Souce: Krish Capital Pty Ltd Index Update: The market ended higher despite weak commodity prices triggering some heavy selling in energy and materials sectors. The benchmark S&P/TSX Composite Index, which rose to a new all-time high of 25,024.93, ended the session with a gain of 133.73 points or 0.54% at 24,923.01. Macro Update: A highly anticipated report on the U.S consumer price inflation is due to be released on Wednesday, while reports on producer price inflation, retail sales and industrial production are likely to attract attention later in the week. Top Movers: Converge Technology (CTS.TO), Sylogist (SYZ.TO) and Lightspeed Commerce (LSPD.TO) gained 5.95%, 5% and 3.75%, respectively. Bitfarms (BITF.TO) rallied 2.75%. Our Stance: Currently, the index is testing a critical support level near 23,850. Maintaining this level is essential to keep the bullish …

By: Team Kalkine | Nov 13, 2024 | Read Time : 10 Mins

TSX Ends Marginally Up

Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index closed up 29.88 points or 0.12% at 24,789.28, well off the day's high of 24,901.51, but still recorded a new closing high. Macro Update: Over the next few days, in the U.S the reports on consumer and producer price inflation are likely to attract attention along with reports on retail sales and industrial production this week. Top Movers: Technology stocks moved up sharply. Several stocks from the financials sector moved higher. Materials shares fell on weak metal prices. Technology stocks Bitfarms (BITF.TO) and Converge Technology Solutions (CTS.TO) closed stronger by about 16.9% and 7.3%, respectively. Our Stance: Currently, the index is testing a critical support level of around 23,950. Maintaining this support is vital for keeping the upward momentum intact. A …

By: Team Kalkine | Nov 12, 2024 | Read Time : 10 Mins

The Canadian market ended lower on Fridayc

Image Souce: Krish Capital Pty Ltd Index Update: The Canadian market ended lower on Friday as energy and materials stocks fell on weak commodity prices as the U.S. dollar climbed higher. The benchmark S&P/TSX Composite Index closed down 86.53 points or 0.35% at 24,759.40. The index, which touched a low of 24,679.72 and a high of 24,804.26 in the session, posted a gain of 2.1% in the week. Macro Update: Data from Statistics Canada showed employment in Canada rose by 14,500 in October, following a 46,700 increase in the previous month. The unemployment rate in Canada was at 6.5% in October, remaining unchanged from the previous month. Top Movers: Molson Coors Canada Inc (TPX.B.TO) rallied about 4%. RB Global (RBA.TO) climbed 3.2%. Shopify Inc (SHOP.TO), Descartes Systems Group (DSG.TO), Morguard Corporation (MRC.TO) and …

By: Team Kalkine | Nov 11, 2024 | Read Time : 10 Mins