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 benchmark S&P/TSX Composite Index closed down 401.91 points or 1.6% at 24,759.15, almost near the day's low. The index shed about 0.8% in the week. Macro Update: Data from Statistics Canada said the Canadian GDP was essentially unchanged from the previous month in February of 2025, according to a flash estimate. In turn, the GDP expanded by 0.4% from the previous month in January, extending momentum in December and better than flash estimates of 0.3%. Canada's finance department said Canada's government budget recorded a deficit of C$ 5.13 billion in January 2025, widening from a C$ 2.06 billion deficit in January 2024. Top Movers: Jamieson Wellness climbed up 3.7%. Emera Inc., Atco, Oceanagold, Great-West Lifeco, Canadian Utilities, Fortis Inc., Dollarama and Gibson Energy gained 1 to 2%. Our Stance: The index remains below its 21-period Simple Moving Average (SMA), reinforcing the prevailing downtrend and indicating persistent selling pressure. The key support level to watch is 24,600, aligning with a crucial horizontal trendline. Holding this level could provide a base for stabilization and potential recovery. Commodity Update: The dollar fell, while gold surged above $3,100 per ounce for the first time, driven by concerns over U.S. President Donald
Index Update: The Canadian market ended flat on Thursday as investors weighed the effects of US President Donald Trump's 25% tariffs on imported autos, which go into effect on April 3rd, and the expected announcement on reciprocal tariffs. The benchmark S&P/TSX Composite Index settled at 25,161.06, exactly at the previous session's closing figure. The index dropped to a low of 25,023.79 in early trades, and despite recovering to 25,205.59 by mid-morning, struggled to move higher. Macro Update: Data from Statistics Canada said average weekly earnings of non-farm payroll employees in Canada rose by 5.5% year-on-year to $1,294.26 in January 2025, following a 5.9% year-over-year increase in December. Top Movers: Tilray climbed about 7.5%. Pet Valu Holdings, Iamgold Corp, Seabridge Gold, New Gold, Wesdome Gold Mines, Sandstorm Gold, Alamos Gold, Equinox Gold, Agnico Eagle Mines, SSR Mining, MAG Silver, Endeavour Silver, Aya Gold & Silver and B2Gold Corp gained 3 to 6% Our Stance: Currently, the index is testing a crucial support level of around 25,000. Maintaining this level is vital to sustaining the upward momentum. A breakdown below this threshold could trigger a retracement, with key weekly support levels identified between 24,700 and 24,500. Commodity Update: The dollar dropped from
Index Update: The Canadian market closed weak on Wednesday as concerns about Trump's tariffs and uncertainty about economic growth weighed on sentiment. The benchmark S&P/TSX Composite Index ended with a loss of 178.45 points or 0.7% at 25,161.06. The index dropped to a low of 25,106.44 in the final hour before staging a modest recovery. Macro Update: On the economic front, data from Statistics Canada said wholesale sales in Canada likely increased by 0.4% month-over-month in February, after a 1.2% rise in the previous month, according to preliminary estimates. Top Losers: Celestica Inc tanked nearly 10%. Shopify Inc., BlackBerry, TecSys, Dye & Durham, Docebo Inc., Coveo Solutions and Descartes Systems Group lost 1.9 to 5.2%. Our Stance: Despite the decline, the index continues to trade above its 21-period Simple Moving Average (SMA), suggesting that the longer-term bullish trend remains intact. At present, the index is testing a critical support level near 24,900. The ability to sustain this level will be crucial in maintaining upward momentum. Commodity Update: The dollar remained near a three-week high on Thursday following U.S. President Donald Trump's announcement of new 25% tariffs on all auto imports, set to take effect on April 2. The move escalates
Index Update: The Canadian market closed on a firm note on Monday. Investors reacting to reports that the U.S. will likely adopt a more moderate, targeted approach to upcoming tariffs. The benchmark S&P/TSX Composite Index closed with a gain of 335.62 points or 1.34% at 25,304.11. The index opened with a positive gap of nearly 100 points at 25,060.21 and climbed to a high of 25,357.80. Macro Update: On the economic front, manufacturing sales in Canada are expected to have declined by 0.2% month-over-month in February 2025, following a 1.7% rise in January, according to preliminary estimates. Top Movers: Aritzia, Interfor, Tilray, Shopify, NexGen Energy, Brookfield Infrastructure, Celestica, Enerflex, Canada Goose Holdings, Cronos Group, Peyto Exploration, Onex Corporation, BRP Inc., Martinrea International, Colliers International Group, CAE, Brookfield, Linamar and Aurora Cannabis gained 3 to 6%. Our Stance: The S&P/TSX holding comfortably above its 21-period Simple Moving Average (SMA), signaling an ongoing bullish trend. Moreover, the current reading still supports the idea that the market has room for further upside, assuming buying momentum continues. The index is currently testing a crucial support level of around 25,000. Commodity Update: The dollar reached a three-week high against the yen on Tuesday, bolstered by
Index Update: After ending the previous session modestly lower, Canadian stocks saw some further downside during trading on Friday. The benchmark S&P/TSX Composite Index regained ground after an early slump but still closed down 91.75 points or 0.4 percent at 24,968.49. Macro Update: Statistics Canada said core retail sales, which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers, dipped by 0.2 percent in January. Top Movers: Shopify Inc, Northland Power Inc, Tourmaline Oil Corp, Cenovus Energy Inc, ARC Resources gained 2.7 to 0.8%. Our Stance: The index remains above its 21-period Simple Moving Average (SMA), supporting a bullish outlook. Currently, the index is testing a crucial support level around 24,700. Maintaining this level is essential to sustaining the upward trend, while a break below could lead to a pullback, with key support zones between 24,500 and 24,200. To continue its rally, the index must demonstrate resilience above these critical levels. Commodity Update: The dollar dipped just below a three-week high against major currencies on Monday as traders awaited clarity on President Donald Trump’s upcoming tariff decisions. Greenback has struggled this year, with initial expectations of pro-growth policies shifting to concerns over Trump's aggressive trade stance, potentially
Index Update: The benchmark S&P/TSX Composite Index ended down by 8.97 points or 0.04% at 25,060.24. The index, which tumbled to 24,923.12 in early trades, climbed to 25,174.97 around late morning, but retreated to around 25,000 before recovering some lost ground. Macro Update: Data from Statistics Canada showed the industrial product price index grew 0.4% month over month in February and increased 4.9% year over year. The index rose 1.6% month over month in January and increased 5.8% year over year. Top Movers: Celestica Inc, MDA, Secure Energy Services, Orla Mining, TerraVest Industries, Kelt Exploration, Denison Mines, Vermilion Energy, Keyera Corp, Paramount Services, Methanex, TC Energy, AltaGas and Parex Resources gained 1.5 to 4%. Our Stance: The index remains above its 21-period Simple Moving Average (SMA), supporting a bullish outlook. Currently, the index is testing a crucial support level around 24,700. Maintaining this level is essential to sustaining the upward trend, while a break below could lead to a pullback, with key support zones between 24,500 and 24,200. To continue its rally, the index must demonstrate resilience above these critical levels. Commodity Update: The U.S. dollar strengthened on Friday, marking its best performance in three weeks, supported by the Federal
Index Update: The S&P/TSX Composite Index closed up 363.14 points or 1.47% at 25,069.21, nearly 50 points off the day's high of 25,115.52. Macro Update: The U.S. central bank announced its widely expected decision to once again leave interest rates unchanged, but projections signaled the central bank is still likely to lower rates later this year. Top Movers: Celestica, Corus Entertainment, Advantage Oil & Gas, AtkinsRealis, Baytex Energy, Computer Modelling, Interfor, Brookfield, Novagold Resources, Bombardier, Jamieson Wellness, Cineplex, Real Maters, Canfor, Brookfield Infrastructure Partners and Whitecap Resources gained 3 to 5.4%. Our Stance: The index is holding above its 21-period Simple Moving Average (SMA), reinforcing a bullish outlook. However, the index is currently testing a critical support level of around 24,700. Holding above this level is crucial to sustaining the upward trend, while a drop below could trigger a pullback, with key support levels between 24,500 and 24,200. Commodity Update: The dollar weakened on Thursday after the Federal Reserve signalled potential interest rate cuts later this year, despite concerns over U.S. tariffs. Fed policymakers forecasted two quarter-point rate cuts in 2025, maintaining their outlook from three months ago, even as they anticipate slower economic growth and higher inflation. On Wednesday,
Index Update: The Canadian market ended modestly lower on Tuesday as hot inflation data, and growth worries due to Trump's tariffs weighed on sentiment. Also, investors stayed cautious ahead of the Federal Reserve's monetary policy announcement, due on Wednesday. The benchmark S&P/TSX Composite Index closed down 79.04 points or 0.32% at 24,706.07, recovering well from a low of 24,572.33. Macro Update: Data from Statistics Canada said the annual inflation rate in Canada jumped to 2.6% in February from 1.9% in the previous month, the highest in eight months, as a sales tax break that ended mid of last month pushed prices higher amid an already broad-based price increase. Top Movers: Tilray, Westshore Terminals and Corus Entertainment gained 5.2 to 5.5%. Ero Copper, Fortuna Silver Mines, Interfor, Torex Gold Resources, Lundin Gold, Brookfield Business Partners, Centerra Gold, First Quantum Minerals, OceanaGold, Seabridge Gold, Canfor, Hudbay Minerals, Canadian Tire Corporation and B2Gold Corp climbed 1.7 to 4%. Our Stance: The index remains below its 21-period Simple Moving Average (SMA), reinforcing the ongoing downtrend and indicating sustained selling pressure. Momentum indicators suggest a cautious outlook, with the Relative Strength Index (RSI) at 46.48, approaching oversold territory. While this could signal the potential for
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