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 ended with a gain of 200.72 points or 0.82% at 24,789.30, about 100 points off the day's high of 24,879.24. Macro Update: U.S. consumer prices data showed headline inflation in the world's largest economy rose marginally above forecasts in December, while the core number came in softer than expected on an annual basis. Canadian factory sales grew by 0.8% in November on higher sales of aerospace products and parts, as well as petroleum and coal products. Top Movers: Celestica Inc (CLS.TO), Converge Technoloy Services (CTS.TO), BlackBerry (BB.TO), Tecsys (TCS.TO), Sangoma Technologies (STC.TO), Shopify Inc (SHOP.TO), Enghouse Systems (ENGH.TO), Open Text Corporation (OTEX.TO) and Descartes Systems Group (DSG.TO) gained 2 to 4%. Bitfarms (BITF.TO) climbed nearly 5%. Our Stance: The …
Image Source : Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index closed with a gain of 52.26 points or about 0.2% at 24,588.58. Macro Update: The U.S Labor Department said its producer price index for final demand crept up by 0.2 percent in December after climbing by 0.4 percent in November. Economists had expected producer prices to rise by 0.3 percent. Top Movers: The Materials Capped Index climbed nearly 1.5%. Fortuna Silver Mines (FVI.TO), Silvercrest Metals (SIL.TO) and MAG Silver Corp (MAG.TO) gained 6.4 to 7.4%. First Majestic Silver Corp (AG.TO), Kinross Gold Corp (K.TO), New Gold (NGD.TO), Oceanagold Corp (OGC.TO) and Ssr Mining (SSRM.TO) climbed 4 to 5%. Our Stance: This neutral RSI reading suggests that while the market is not overheating, there is still some strength in the rally, …
Image Source : Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index, which tumbled to 24,693.75 in early trades, closed down 305.63 points or 1.22% at 24,767.73. The index shed about 1.1% in the week. Macro Update: Canadian employment data came in stronger than expected, reducing prospects of any significant monetary easing by the Bank of Canada. Data from Statistics Canada showed employment in Canada advanced by 91,000 in December 2024, the largest gain since January 2023, following a 51,000 rise in the previous month. Meanwhile, the unemployment rate in Canada dropped to 6.7% in December, from 6.8% a month earlier. Top Movers: Maple Leaf Foods (MFI.TO), Aura Minerals (ORA.TO), Canadian Tire Corporation (CTC.TO), Gildan Activewear (GIL.TO), Lundin Gold (LUG.TO), Suncor Energy (SU.TO), Hut 8 Corp (HUT.TO) and Imperial Oil (IMO.TO) …
Image Source : Krish Capital Pty Ltd Index Update: The market gained despite reports that U.S. President-elect Donald Trump is planning to impose new tariffs. The benchmark S&P/TSX Composite Index ended the session with a gain of 121.79 points or 0.49% at 25,051.68, slightly off the day's high of 25,061.55. Macro Update: The Federal Reserve released the minutes of its latest monetary policy meeting later in the day, they did not provide much insight into the outlook for interest rates other than to suggest officials plan to take a "careful approach" to future decisions. Top Movers: K92 Mining Inc (KNT.TO) zoomed nearly 16%. Equinox Gold Corp (EQX.TO) climbed 10%. Eldorado Gold (ELD.TO), Celestica Inc (CLS.TO), ATCO (ACO.Y.TO), Constellation Software (CSU.TO), Franco-Nevada Corporation (FNV.TO), Brookfield Asset Management (BAM.TO), Alamos Gold (AGI.TO) and Arc Resources …
Image Source : Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index ended with a loss of 69.90 points or 0.28% at 24,929.89. The index, which climbed to 25,197.00 in early trades, dropped to a low of 24,863.85 in the final hour. Macro Update: Data from Statistics Canada showed the nation's trade deficit stood at C$ 0.32 billion in November, narrowing from an upwardly revised C$ 0.54 billion gap in the previous month. Top Movers: Precision Drilling Corporation (PD.TO) climbed 4.7%. Imperial Oil (IMO.TO), Suncor Energy (SU.TO), Cogeco Communications (CCA.TO), Quebecor Inc (QBR.TO), Franco-Nevada Corporation (FNV.TO) and Agnico Eagle Mines (AEM.TO) lost 2 to 4.5%. Our Stance: Traders are closely monitoring technical indicators to gauge the market's direction in the short term. Key levels are critical in determining the next potential move. …
Image Source: Krish Capital Pty Ltd Index Update: The Canadian market closed on a firm note on Monday, lifted by gains in energy stocks. The benchmark S&P/TSX Composite Index, which dropped to 24,510.50, rallied to close with a gain of 149.50 points or 0.61% at 24,748,98. Macro Update: The Canadian GDP contracted for the first time in eleven months, declining by 0.1% from the previous month in November. In October, the Canadian GDP expanded by 0.3%, revised higher from the flash reading of a 0.1% rise, after rising by a revised 0.2% in September. Industrial product prices in Canada rose by 0.6% month-over-month in November, following a 1.2% increase in October. Producer prices increased 2.2% year-over-year in November, following a 1.1% rise in October. Top Movers: Paramount Resources (POU.TO) and North American Construction …
Image Source: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index fell to 24,250.02 in early trades but recovered soon and then kept moving higher to eventually settle at 24,599.48 with a gain of 185.54 points or 0.76% at 24,599.48. Macro Update: Data from Statistics Canada showed retail sales in Canada increased 1.5% in October over the same month in the previous year. Top Movers: Lightspeed Commerce (LSPD.TO) gained about 4%. Sangoma Technologies (STC.TO), Celestica Inc (CLS.TO), Tecsys (TCS.TO) and Shopify Inc (SHOP.TO) gained 1.7 to 2.25%. Our Stance: With the index holding above its immediate support and displaying strong technical signs, a continued rally could unfold in the upcoming trading sessions. The nearest resistance at 25,000 points, defined by the 21-period Simple Moving Average (SMA), could serve as the initial target …
Image Source: Krish Capital Pty Ltd Index Update: The Canadian market closed weak on Thursday, falling for the sixth consecutive session, as fears of tariff hikes, hawkish comments from the Federal Reserve, and concerns about economic slowdown. The benchmark S&P/TSX Composite Index settled with a loss of 143.06 points or 0.58% at 24,413.94. Macro Update: Data from Statistics Canada said average weekly earnings of non-farm payroll employees in Canada rose by 5.3% year-on-year to $1,284.43 in October 2024, the fastest pace since March 2021, following a downwardly revised 4.9% increase in September. Top Movers: Propel Holdings (PRL.TO) rallied 6.75%. Aecon Group (ARE.TO), BRP Inc (DOO.TO), TerraVest Industries (TVK.TO), goeasy (GSY.TO), CCL Industries (CCL.B.TO), CGI Inc (GIB.TO), Cameco Corporation (CCO.TO) and Sprott Inc (SII.TO) gained 1.3 to 3.5%. Our Stance: The index is trading near …
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