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, which opened with a big negative gap at 25,347.93 and slid to 25,204.06 subsequently, ended the session with a loss of 179.34 points or 0.7% at 25,289.15. Macro Update: In economic news, wholesale sales in Canada increased by 0.1% month-over-month in December after a 0.2% decline in November, according to preliminary estimates. Investors are awaiting monetary policy announcements from the Bank of Canada, the Federal Reserve and the European Central Bank this week. Top Movers: Telus Corp (T.TO), BCE Inc (BCE.TO), Riocan REIT (REI.UN.TO), Colliers International (CIGI.TO), TFI International (TFII.TO) and GFL Environmental (GFL.TO) moved higher, gaining 1.3 to 4%. Our Stance: Traders should remain cautious and watch for any signs of a shift in market dynamics. The immediate support …
Image Source : Krish Capital Pty Ltd Index Update: Despite moving in a tight band in lackluster trade, the Canadian market closed higher on Friday, extending gains to a ninth straight day, the longest winning run in over three years. The benchmark S&P/TSX Composite Index closed up 34.41 points or 0.14% at 25,468.49, the highest finish in six weeks. The index gained about 1.6% in the week. Macro Update: In economic news, new home prices in Canada decreased by 0.1% over a month in December 2024, following a 0.1% increase in November, data from Statistics Canada showed. House Price Index decreased to 0.1% (y-o-y) in December from 0.2% in November of 2024. Manufacturing sales in Canada rose by 0.6% from the previous month in December of 2024, expanding on the 0.8% rise …
Index Update: The benchmark S&P/TSX Composite Index ended with a gain of 122.58 points or 0.48% at 25,434.08, rising for the eighth consecutive session. Macro Update: On the economic front, data from Statistics Canada showed that retail sales in Canada increased 1.6% in November 2024, over the same month in the previous year. According to preliminary estimates, retail sales are expected to surge 1.6% month-over-month in December 2024. That will be the biggest gain since May 2022. Top Movers: Canadian Tire Corporation (CTC.A.TO), goeasy (GSY.TO), TerraVest Industries (TVK.TO), George Weston (WN.TO), Methanex Corporation (MX.TO), Nutrien (NTR.TO), E-L- Financial Corporation (ELF.TO) and MTY Food Group (MTY.TO) gained 2 to 4.5%. Our Stance: Technically, the index remains in a favorable position, staying above its 21-period Simple Moving Average (SMA), signaling that the bullish trend is …
Image Source : Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index closed up 29.87 points or 0.12% at 25,311.50. Macro Update: Data from Statistics Canada showed industrial producer prices in Canada rose by 0.2% month-over-month in December, following a 0.6% increase in October. On a yearly basis, producer prices surged 4.1% in December, the sharpest increase since January 2023. Concerns about tariff threats by Trump limited market's upside. The U.S. President has repeated his threat to impose tariffs on imports from European countries. He also said his administration was discussing imposing an additional 10% tariff on goods imported from China, starting in February. Top Movers: Celestica Inc (CLS.TO) gained about 4.7%. Toromont Industries (TIH.TO), GDI Integrated Facility Services (GDI.TO), Toromont Industries (TIH.TO), WSP Global (WSP.TO), Nutrien (NTR.TO), Calian Group (CGY.TO), …
Image Source : Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index ended the session with a gain of 110.05 points or 0.44% at 25,281.63. Macro Update: Data from Statistics Canada showed the annual inflation rate in Canada eased to 1.8% in December from 1.9% in the previous month. The consumer price index in Canada decreased 0.4% month-over-month in December, after a flat reading in November. Trump, who signed a slew of executive orders after taking charge, signaled imposition of tariffs on imports from Canada and Mexico, but refrained from enacting a policy. Top Movers: Cameco Corporation (CCO.TO), Celestica Inc (CLS.TO) and Calian Group (CGY.TO) gained 3 to 3.3%. MTY Food Group (MTY.TO), Dollarama Inc (DOL.TO), goeasy (GSY.TO), Shopify Inc (SHOP.TO), Constellation Software (CSU.TO), CCL Industries (CCL.B.TO), West Fraser Timber (WFG.TO), …
Image Source : Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index, which climbed to 25,245.78, ended with a gain of 103.66 points or 0.41% at 25,171.58. Macro Update: According to reports, Donald Trump will direct federal agencies to assess trade relations with China, Canada and other trade partners but will hold off on imposing new tariffs on his first day in office. Top Movers: MEG Energy Corp (MEG.TO) rallied 6.3%. Terravest Capital (TVK.TO), Athabasca Oil Corp (ATH.TO), Canadian Natural Resources (CNQ.TO), Headwater Exploration (HWX.TO) and Birchcliff Energy (BIR.TO) gained 3 to 5.2%. 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. The Relative Strength Index (RSI) stands at 56.54, signaling strength in …
Image Source : Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index showed a strong move to the upside in morning trading and remained firmly positive throughout the day. The Index jumped 221.72 points or 0.9 percent to 25,067.92, closing higher for the fourth straight day. Macro Update: The recent retreat by treasury yields came as the U.S. inflation data released over the past few days led to renewed optimism about the outlook for interest rates. Adding to the interest rate optimism, Federal Reserve Governor Christopher Waller told CNBC the central bank could lower interest rates multiple times this year if inflation eases as he is expecting. Canadian investment in foreign securities rose by $17.8 billion in November, the highest since March 2024, while foreign investors acquired $16.4 billion in …
Image Source : Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index ended higher by 56.90 points or 0.23% at 24,846.20, after scaling a low of 24,771.89 and a high of 24,884.20 intraday. Macro Update: The Canada Mortgage & Housing Corporation, housing starts in Canada dropped by 13.35% month-over-month to 231,500 units in December, the lowest level in three months. Top Movers: Molson Coors Canada (TPX.B.TO), Aritzia Inc (ATZ.TO), Celestica Inc (CLS.TO), Capital Power Corporation (CPX.TO), Emera Inc (EMA.TO), Brookfield Renewable Corporation (BEPC.TO) gained 2.5 to 4.6%. Our Stance: The index is currently testing a key support level at 24,400, which has held steady thus far. Maintaining this level is critical to avoid a deeper pullback. A break below 24,400 could lead the index to test lower support zones in the 24,200–24,400 …
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