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 ended with a gain of 298.82 points or 1.22% at 24,870.82. Macro Update: On the economic front, the S&P Global Canada Composite PMI declined to 46.8 in February 2025, down from 49.5 in January, marking the steepest contraction in private sector output since January 2024. 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: Ivanhoe Mines soared 12.8%. Bombardier Inc., and First Quantum Minerals climbed about 10% and 9.6%, respectively. SSR Mining, Novagold, Lundin Gold, Orla Mining, MDA Space, K92 Mining, BlackBerry, MAG Silver, Pan American Silver Corp., Alamos Gold, Aritzia, BRP, Linamar Corporation, Equinox Gold, Tilray, Air Canada, Quebecor, Premium Brands, Onex Corp, Shopify and Barrick Gold Corporation also posted strong gains. Our Stance: Despite the gains, the index remains below its 21-period Simple Moving Average (SMA), indicating a continued negative trend. However, with buying momentum intact, further upside remains possible. The index is currently testing a key support level around 24,500, a critical threshold for sustaining bullish momentum. A break below this level could trigger a pullback toward 24,200 or
Index Update: The benchmark S&P/TSX Composite Index, which tumbled to 24,344.84 around late morning, losing more than 650 points in the process, ended the session with a loss of 429.57 points or 1.72% at 24,572.00. Macro Update: Canadian retail spending increased by 3.2% to $839.8 billion in 2023, of which $67.7 billion was e-commerce revenue. Online sales increased by 7.0%, underscoring a sustained shift toward digital platforms. More than half of the retail operating revenue in 2023 was generated in four subsectors: motor vehicle and parts dealers (27.2% of retail operating revenue), food and beverage retailers (18.6%), general merchandise retailers (12.4%), and gasoline stations and fuel vendors (10.1%). Top Losers: Sangoma Technologies and Coveo Solutions tumbled 7.9% and 7.4%, respectively. Docebo ended at 6.35% down, and Lightspeed Commerce closed lower by 5.2%. Shopify Inc., Kinaxis Inc., Celestica and Sylogist lost 2.3 to 4.7%. Our Stance: The index remains below its 21-period Simple Moving Average (SMA), reinforcing the broader downtrend and signaling continued selling pressure. While this could lead to a short-term bounce, downside risks persist. The key support level to monitor is 24,200, aligning with a significant horizontal trendline. Holding above this level may provide a foundation for stabilization and
Index Update: The benchmark S&P/TSX Composite Index closed down 391.88 points or 1.54% at 25,001.57. The index dropped to a low of 24,885.70 in the final hour, before staging a modest recovery from that level. Macro Update: The mood remained bearish on Bay Street as U.S. President Donald Trump confirmed that the 25% tariffs on Canada and Mexico will take effect Tuesday. Trump also announced plans to impose tariffs on imported agricultural products from April 2. The S&P Global Canada Manufacturing PMI fell to 47.8 in February of 2025 from 51.6 in the previous month, contrasting sharply with market expectations of 51.9. The result pointed to the first decline in factory activity since August of last year and the sharpest since December 2023. Top Movers: Stella-Jones, Docebo, GFL Environmental, GDI Integrated Facility Services, Pet Valu Holdings, Kinaxis, ATCO, Quebecor, Canadian Tire Corporation, Emera, BCE Inc., and Endeavour Mining gained 1.5 to 4%. Our Stance: The index remains below its 21-period Simple Moving Average, indicating that the short-term downtrend persists. Additionally, the Relative Strength Index (RSI) sits at 42.40, signaling potential underlying weakness that traders should closely monitor. The key support level at 24,800 will be crucial holding above it could
Index Update: The benchmark S&P/TSX Composite Index ended with a gain of 265.21 points or 1.06% at 25,393.45. The index gained about 1% in the week but posted a month loss of over 1%. Macro Update: Data from Statistics Canada said the Canadian GDP rose by 0.6% over a quarter in the three months to December of 2024, following an upwardly revised 0.3% increase in the prior period. The Canadian GDP increased by 0.3% from the previous month in January of 2025, according to a flash estimate. Top Movers: Pembina Pipeline Corporation rallied 7.1%. GFL Environmental climbed 5%. Royal Bank of Canada, Enbridge, IGM Financial, TMX Group, RB Global, Canadian Pacific Kansas City, Brookfield Wealth Solutions gained 2 to 5%. Our Stance: the index is well above its 50-period Simple Moving Average (SMA), indicating a bullish trend. Currently, the index is testing a key support level around 25,100. It is crucial for the index to hold above this support to maintain its upward momentum. A drop below this level could lead to a pullback, with additional support levels seen between 24,800 and 24,600. Commodity Update: The euro bounced back from a 2.5-week low against the U.S. dollar on Monday, with
Index Update: The benchmark S&P/TSX Composite Index settled with a loss of 200.12 points or 0.79% at 25,128.24, the day's low. The index touched a high of 25,417.52 at the start. Macro Update: Data from Statistics Canada showed Canada's current account deficit widened to C$ 5.0 billion in Q4 2024, up from an upwardly revised C$ 3.6 billion in Q3. Another report from Statistics Canada said average weekly earnings of non-farm payroll employees in Canada rose by 5.8% year-on-year to $1,290.82 in December 2024, the most since March 2021, following a 5.0% year-over-year increase in November. Top Movers: Kinaxis gained 5.2%. E-L-Financial Corporation, Stella-Jones, iA Financial Corporation, Restaurant Brands International, First Quantum Minerals, ATS Corporation, Pembina Pipeline Corporation, Colliers International and Franco-Nevada Corporation advanced 1 to 4.3%. Our Stance: Investors should closely monitor the key support level at 24,900, a historically significant threshold. Holding above this level could support a potential rebound, while a break below it may lead to further declines, with additional support zones around 24,700 to 24,500. A breach of these levels could signal a deeper correction and a shift in market sentiment. Commodity Update: The U.S. dollar gained safe-haven support on Friday amid looming tariffs from
Index Update: The benchmark S&P/TSX Composite Index closed up 124.38 points or 0.49% at 25,328.36, gaining for a third straight session. The index scaled a low of 25,208.56 and a high of 25,441.73 intraday. Macro Update: On the economic front, data from Statistics Canada said wholesale sales in Canada increased by 1.8% month-over-month in January 2025, rebounding from a 0.2% decline in December, preliminary estimates showed. Top Movers: Aya Gold & Silver and Fortuna Silver Mines climbed 7% and 6.25%, respectively. Oceanagold, Orla Mining, Iamgold Corp, First Majestic Silver Corp, Hudbay Minerals, Sandstorm Gold and Ngx Minerals gained 4 to 5.3%. MAG silver, New Gold, Capstone Mining Corp, Torex Gold Resources and Kinross Gold Corp also rallied sharply. Our Stance: Despite this upward movement, the technical outlook for the index remains bearish as it continues to trade below its 21-period Simple Moving Average (SMA), indicating negative momentum. Currently, the index is testing a key support level around 25,100. For the bullish trend to remain intact, it is crucial for the index to hold above this level. A drop below this support could trigger a correction, with the next support levels at 24,800 and 24,600. Commodity Update: The U.S. dollar strengthened
Index Update: The benchmark S&P/TSX Composite Index closed up 52.72 points or 0.21% at 25,203.98, recovering well from an early low of 24,946.06. Macro Update: On the economic front, data from Statistics Canada said manufacturing sales in Canada likely rose 2% month-over-month in January, following a 0.3% rise in December, according to preliminary estimates. Top Movers: Innergex Renewable Energy shares skyrocketed nearly 55% after the company announced that it has signed a definitive agreement that will see investment group CDPQ acquire all of its issued and outstanding common shares, other than those held by CDPQ and certain members of senior management, for $13.75 per share in cash. George Weston, South Bow, Canadian Tire Corporation, TFI International, Colliers International, Manulife Financial, FirstService, CCL Industries, Stella-Jones, Empire Company, Brookfield Renewable and TerraVest Industires gained 2 to 3%. Our Stance: Despite this uptick, the index’s technical outlook remains bearish, as it continues to trade below its 21-period Simple Moving Average (SMA), maintaining negative momentum. Currently, the index is testing a key support level around 25,000. Holding above this threshold is crucial for maintaining the bullish trend, while a drop below could prompt a correction, with the next support levels at 24,800 and 24,600.
Index Update: he benchmark S&P/TSX Composite Index, which tumbled to 25,020.03 in early trades, losing nearly 130 points in the process, climbed to 25,255.92 around mid afternoon, but pared most of its gains and finally ended the day's session with a small gain of 4.23 points or 0.02% at 25,151.26. Macro Update: The uncertainty lingered as Canada and Mexico stepped up efforts to avoid 25% tariffs on exports to the United States, hoping to persuade President Donald Trump's administration that its improved border security and fentanyl trafficking measures are effective before the March 4 deadline. Top Movers: Dye & Durham soared 25%. Canada Goose Holdings zoomed 12%. Eldorado Gold, iA Financial Corporation, Lundin Gold, Westshore Terminals Investment Corporation, Cogeco Inc., E-L-Financial Corporation and Metro Inc gained 3 to 5.7%. Our Stance: The index remains below its 21-period Simple Moving Average (SMA), indicating a continued bearish trend. Currently, the index is testing a key support level at 24,900. Holding above this level is essential to sustaining upward momentum. A breakdown below could trigger a pullback, with additional support zones identified between 24,700 and 24,500 on the weekly chart. Commodity Update: The dollar strengthened on Tuesday after hitting its lowest level two
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