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: Canadian equities performed well on Monday, as investors focusing on future central bank meetings and economic data rather than trade war concerns. The benchmark S&P/TSX Composite Index ended with a gain of 231.71 points or 0.94% at 24,785.11. Macro Update: Data from Canada Mortgage and Housing Corporation said housing starts in Canada decreased to 229,000 units in February from 239,000 units in January. Furthermore, the Federal Reserve, the Bank of England, the Bank of Japan and the Swiss National Bank, are all scheduled to announce their monetary policies this week. Top Movers: TerraVest Industries skyrocketed more than 20%. B2Gold Corp climbed nearly 8.5%. K92 Mining gained 6.4%. First Majestic Silver, Storage Vault, Orla Mining, Energy Fuels, Capstone Mining, Ero Copper, Tilray, Hudbay Minerals, New Gold and AtkinsRealis surged 4 to 6%. Our Stance: Despite the rebound, the index remains below its 21-period Simple Moving Average (SMA), reinforcing the prevailing downtrend and ongoing selling pressure. Momentum indicators offer a cautious outlook, with the Relative Strength Index (RSI) at 47.80, suggesting the potential for a short-term rebound but leaving downside risks intact. Key support to watch is 24,300, aligning with a significant horizontal trendline. Commodity Update: The U.S. dollar remained
Index Update: The benchmark S&P/TSX Composite Index ended the session with a gain of 350.17 points or 1.45% at 24,553.40. For the week, the index shed about 0.8%. Macro Update: On the economic front, data from Statistics Canada said manufacturing sales in Canada rose 1.7% month-over-month in January 2025, following an upwardly revised 0.5% increase in the prior month. This marked the fourth consecutive month of increases in manufacturing sales. Wholesale sales in Canada rose by 1.2% from the previous month in January of 2025, revised lower from the preliminary estimate of 1.8% but picking up from the 0.3% increase in the earlier period. Top Movers: BlackBerry, Celestica Inc., Lightspeed Commerce and Shopify gained 4.3 to 5.6%. Bird Construction rallied 5.3%. Cargojet, Ats Corp, Aecon Group, Finning International and WSP Global gained 3 to 4.2% Our Stance: Moving Average (SMA), reinforcing the prevailing downtrend and ongoing selling pressure. Momentum indicators present a cautious outlook. The key support level to monitor is 24,300, aligning with a significant horizontal trendline. Maintaining this level could provide a base for stabilization and recovery, while a breakdown may accelerate declines, with further downside targets at 24,000 and 23,700. Commodity Update: The U.S. dollar remained near
Index Update: The Canadian market ended notably lower on Thursday, with its benchmark S&P/TSX Composite Index falling to a four-and-a-half-month low, as rising concerns about global economic growth due to the trade war triggered heavy selling at several counters from across various sectors. The S&P/TSX Composite Index closed down 220.11 points or 0.9% at 24,203.23, nearly 60 points off the day's low of 24,145.59. Macro Update: After U.S. President Donald Trump slapped new tariffs on steel and aluminum exported by Canada into the U.S., the Canadian government announced retaliatory tariffs on $29.8 billion of U.S. goods. Top Movers: Shares of First Quantum Minerals Ltd zoomed 14.4% after Panama authorized the sale of copper concentrate at the company's shuttered Cobre Panama mine. First Majestic Silver, Birchcliff Energy, Algoma Steel, Novagold, Orla Mining and B2Gold Corp climbed 6 to 9.3%. Our Stance: The index remains below its 21-period Simple Moving Average (SMA), reinforcing the prevailing downtrend and indicating sustained selling pressure. Momentum indicators suggest a cautious outlook. The key support level to watch is 24,100, aligning with a critical horizontal trendline. Holding above this level may provide a foundation for stabilization and potential recovery. However, a break below could accelerate losses, with
Index Update: The benchmark S&P/TSX Composite Index ended with a gain of 175.14 points or 0.72% at 24,423.34, nearly 100 points off the day's high of 24,516.28. Macro Update: The Bank of Canada today announced its widely expected decision to lower interest rates by another 25 basis points, making its seventh straight rate cut. While the central bank noted Canadian economic growth has come in stronger than expected, it warned the pervasive uncertainty created by continuously changing U.S. tariff threats is restraining consumers' spending intentions and businesses' plans to hire and invest. Data released by the Labor Department showed consumer prices in the U.S. increased by slightly less than expected in the month of February, edging up by 0.2%, after climbing by 0.5% in January. Economists had expected consumer prices to rise by 0.3% Top Movers: Transcontinental Inc. shares climbed 7.1% and Propel Holdings rallied 6.1%. Bombardier Inc., Aura Minerals, MEG Energy Corp., Shopify Inc., Teck Resources, Celestica Inc. and Pan American Silver Corp gained 3 to 6%. Our Stance: Despite this uptick, the index remains below its 21-period Simple Moving Average (SMA), signaling a prevailing downtrend and continued selling pressure. Momentum indicators reflect a cautious market sentiment. The key
Index Update: The Canadian market ended weak on Tuesday and the benchmark S&P/TSX Composite Index dropped to a fresh 4-month low. The S&P/TSX Composite Index closed down 132.51 points or 0.54% at 24,248.20, after scaling a low of 24,155.63 and a high of 24,493.46 intraday. Macro Update: The Canadian central bank is widely expected to lower interest rate by 25 basis points. After speaking about hiking tariffs on Canadian steel and aluminum to 50%, and raising duties on auto parts, the Trump administration said the hike will not become effective tomorrow, as Canada agreed to suspend a 25% tariff on electricity exports. Top Movers: First Majestic Silver soared 10.3% and Knight Theapeutics surged 10.1%. Iamgold Corp., New Gold, MAG Silver, Silvercorp Metals, Celestica Inc., Hudbay Minerals, Vermilion Energy, Kinross Gold, Pan American Silver Corp, SSR Mining and Enerflex rallied 4 to 8%. Our Stance: The index remains below its 21-period Simple Moving Average (SMA), reinforcing the prevailing downtrend and indicating continued selling pressure. Momentum indicators suggest a cautious outlook. The key support level to watch is 24,100, aligning with a crucial horizontal trendline. Holding this level could provide a foundation for stabilization and potential recovery. However, a break below may
Index Update: The S&P/TSX Composite Index ended down 378.05 points or 1.53% at 24,380.71. The index tumbled to a low of 24,249.96 in the final hour. Macro Update: The Canadian central bank is widely expected to lower interest rate by 25 basis points, amid trade uncertainty with the U.S. If the rate cut happens, then it will be the seventh concecutive reduction by the central bank. Top Movers: Technology stocks were the major losers. The Information Technology Capped Index closed down 3.64%. BlackBerry, Shopify, Celestica, Computer Modelling Group, Coveo Solutions, Docebo, Lightspeed Commerce, Descartes Systems Group and Constellation Software ended lower by 3 to 7%. Our Stance: The index remains below its 21-period Simple Moving Average (SMA), reinforcing the prevailing downtrend and indicating continued selling pressure. Momentum indicators suggest a cautious outlook. The key support level to monitor is 24,100, aligning with a crucial horizontal trendline. Maintaining this level could provide a foundation for stabilization and potential recovery. However, a break below may accelerate losses, with additional downside targets at 23,900 and 23,700. Commodity Update: The U.S. dollar weakened against the yen on Tuesday amid concerns about a potential U.S. economic slowdown and ongoing uncertainty surrounding the Trump administration's trade
Index Update: The benchmark S&P/TSX Composite Index swung back and forth across the unchanged line but closed up 174.72 points or 0.7 percent at 24,758.76. Macro Update: Statistics Canada released a report showing Canadian employment inched up by just 1,100 jobs in February, while the unemployment rate was unchanged at 6.6 percent. Job gains in wholesale and retail trade and finance, insurance, real estate, rental and leasing were largely offset by declines in professional, scientific and technical services and transportation and warehousing. Meanwhile, the Labor Department released a report showing employment in the U.S. increased by slightly less than expected in the month of February. Top Movers: The energy sector led the rebound, with Canadian Natural, Suncor, and Imperial Oil posting gains between 2% and 5.8%, while major mining equities also rallied. Our Stance: Despite the gains, the index remains below its 21-period Simple Moving Average (SMA), signaling that the short-term downtrend is still in place. Traders should closely watch the immediate support level at 24,500. Holding above this level could open the door for a potential rebound, while a break below 24,300 would increase the likelihood of further downside. Commodity Update: The dollar started Monday weak after significant losses
Index Update: The Canadian market closed notably lower on Thursday amid uncertainty about the Trump administration's moves with regard to tariffs and economic policies. The benchmark S&P/TSX Composite Index ended down 286.78 points or 1.15% at 24,584.04, more than 100 points off the day's low of 24,476.47. Macro Update: The 25% tariffs by U.S. on Canadian goods and 10% on Canadian energy products came into force earlier this week. The Trump administration decided to delay the levy on auto companies for a month. The Canadian government, for its part, announced reciprocal tariffs on over $150 billion of US imports. On the economic the Canadian trade surplus widened to CAD 4.0 billion in January 2025, the largest since May 2022. Canada's merchandise exports rose 5.5% to a record CAD 74.5 billion, while imports increased 2.3%, marking the fourth consecutive monthly rise for both. Productivity in Canada increased to 102.37 points in the fourth quarter of 2024 from 101.78 points in the third quarter of 2024, as per data from Statistics Canada. Top Movers: Parkland Corporation, Badger Infrastructure, Rogers Communications, Telesat Corporation, Seabridge, Alimentation Couche-Tard, Wajax Corporation, Stella-Jones, MEG Energy, BCE, Cenovus Energy, Nutrien, Ag Growth International and BRP Inc., gained 2
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