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 loss of 367.05 points or 1.44% at 25,147.03, slightly off the day's low of 25,126.74. The index shed about 1.2% in the week. Macro Update: On the economic front, retail sales in Canada are expected to ease by 0.4% from the previous month in January of 2025, the first drop in seven months, according to preliminary estimates. That follows a 2.5% surge in the final month of 2024, revised higher from the preliminary estimate of 1.6%, to mark the sharpest rise in retail turnover since May of 2022. Top Movers: Tilray surged nearly 10%. Storage Vault closed 7.3% up. Innergex Renewable Energy, Lundin Gold, Bausch Health Companies, BCE Inc., Boralex, Emera Incorporated, Telus Corp and Hydro One climbed 1.3 to 5%. Our Stance: Technically, the index remains below its 21-period Simple Moving Average (SMA), a sign that the short-term bullish momentum is still under pressure. The immediate focus is on the 24,900 support level, which will be key in determining near-term direction. Holding above this level could set the stage for a rebound, potentially bringing the index back above its SMA. Commodity Update: The euro strengthened on Monday following Germany’s
Index Update: The benchmark S&P/TSX Composite Index ended with a loss of 112.08 points or 0.44% at 25,514.08, nearly 80 points off an early low of 25,436.88. Macro Update: Data from Statistics Canada showed new home prices in Canada decreased by 0.1% month-over-month in January. The house price index remained unchanged at 0.1% in January, same as in January last year. Industrial producer prices in Canada rose by 1.6% over a month in January following a 0.4% increase in December. On yearly basis, producer prices jumped by 5.8%, to the highest level in the past 12 months. Top Movers: First Majestic Silver Corp, Ivanhoe Mines, Capstone Copper Corp, Manulife Financial Corporation and TransAlta Corporation climbed 6.4 to 7.2%. Our Stance: Despite this setback, the index remains above its 50-period Simple Moving Average (SMA), indicating that the short-term uptrend is still in place. Investors should closely monitor the key support level at 25,250, a historically significant threshold. Staying above this level could pave the way for a rebound, while a breakdown below it may lead to further losses, with additional support found around 25,100 to 25,000. A breach of these levels could signal a deeper correction and a shift in overall
Index Update: The benchmark S&P/TSX Composite Index ended down 22.68 points or 0.09% at 25,626.16, recovering more than 200 points from an early low of 25,439.39. Macro Update: Tariff threats by U.S. President Donald Trump rendered the mood a bit cautious. Trump's threat to impose a 25% tariff on autos, alongside similar duties on semiconductors and pharmaceuticals. Top Movers: AtkinsRealis gained 5.1%. NorthWest Company, Riocan REIT, NuVista Energy, MDA Space, Bausch Health Companies, Parex Resources, Advantage Oil & Gas, Dollarama, Barrick Gold Corporation, Aecon Group, Tourmaline Oil Corp, Saputo, ATCO, Bombardier and MEG Energy Corp gained 2.3 to 4%. Our Stance: Despite the pullback, the index remains above its 21-period Simple Moving Average (SMA), signaling a continuation of the short-term uptrend. Investors should keep a close watch on the key support level at 25,300, which has historically served as an important threshold. Holding above this level could support a rebound, while a breakdown below it may trigger further declines, with additional support zones around 25,100 to 25,000. Commodity Update: The yen strengthened while the U.S. dollar remained steady as investors digested U.S. President Donald Trump's latest tariff proposals and their potential global economic impact. This also raised questions about future
Index Update: The benchmark S&P/TSX Composite Index, which climbed to a high of 25,668.94 intraday, ended the day's session with a gain of 165.61 points or 0.65% at 25,648.84. Macro Update: Data from Statistics Canada showed the annual inflation rate in Canada edged higher to 1.9% in January 2025, from 1.8% in the previous month. The CPI in Canada rose 0.1% from a month earlier in January 2025, as expected, compared with a 0.4% decline in December 2024. The annual core inflation rate in Canada which excludes eight of the most volatile components such as food, energy and mortgage interest costs, rose for the second month to 2.1% in January 2025, the highest in nearly a year, up from December's 1.8%. On a monthly basis, core consumer prices increased by 0.4%, after falling by 0.3% in the prior month. Top Movers: Canada Goose Holdings, Seabridge Gold, Equinox Gold, Parex Resources, Trican Well Service, Eldorado Gold, Bausch Health Companies, Aritzia, Bombardier Inc., and B2Gold Corp climbed 3 to 4.5%. Our Stance: From a technical standpoint, the index remains in a favorable position, staying above its 21-period Simple Moving Average (SMA), which suggests that the bullish trend is intact. However, the index
Index Update: The benchmark S&P/TSX Composite Index ended down 215.28 points or 0.84% at 25,483.23, slightly off the day's low of 25,470.77. The index gained a marginal 0.14% in the week. Macro Update: On the economic front, manufacturing sales in Canada rose 0.3% month-over-month in December 2024, slower than initial estimates of 0.6%, and following a revised 0.7% increase in the prior month, data from Statistics Canada showed. Meanwhile, wholesale sales in Canada fell 0.2% month-over-month in December 2024, matching the 0.2% decline in November. Top Movers: CAE Inc (CAE.TO), Interfor Corporation (IFP.TO), goeasy (GSY.TO), Velen In (VLN.TO), Bombardier Inc (BBD.B.TO), Russel Metals (RUS.TO) and Cogeco Inc (CYG.TO) closed with sharp gains. Our Stance: Despite the decline, the index remains above its 50-period Simple Moving Average (SMA), suggesting that the broader uptrend is still intact. Looking ahead, 25,200 serves as a critical support level holding above it could signal a potential rebound. A break below this level, however, may accelerate selling pressure, with 25,000 and 24,800 emerging as the next downside targets. Commodity Update: The U.S. dollar remained near two-month lows on Tuesday, as traders evaluated tariff concerns and the potential for U.S. rate cuts. Meanwhile, the Australian dollar stayed
Index Update: The benchmark S&P/TSX Composite Index settled with a gain of 135.40 points or 0.53% at 25,698.51. Macro Update: The U.S data is showing a bigger than expected increase in U.S. consumer price inflation increased speculation the Federal Reserve will leave interest rates on hold for a prolonged period. Top Movers: Shopify Inc (SHOP.TO) rallied 5.2%. Docebo Inc (DCBO.TO), Descartes Systems (DSG.TO) and Constellation Software (CSU.TO) gained 1.7 to 2%. Bitfarms (BITF.TO) gained 2.6%. Our Stance: From a technical standpoint, the index remains in a solid uptrend, trading well above its 21-period Simple Moving Average (SMA), reinforcing bullish sentiment. The index is currently testing a key support level near 25,300, which will be pivotal in sustaining the uptrend. Holding above this level could maintain bullish momentum, while a breakdown may lead to a pullback, with key support zones at 25,100 and 24,800. Commodity Update: The U.S. dollar and major currencies remained stable on Friday as traders evaluated the impact of Washington's planned reciprocal tariffs, which will not be immediately enforced. U.S. President Donald Trump instructed his economic team to develop plans for tariffs on countries taxing U.S. imports. Meanwhile, a U.S. producer price report alleviated concerns about inflation. Commodities
Index Update: The benchmark S&P/TSX Composite Index ended with a loss of 68.72 points or 0.27% at 25,563.11. Macro Update: The U.S data is showing a bigger than expected increase in U.S. consumer price inflation increased speculation the Federal Reserve will leave interest rates on hold for a prolonged period. Top Movers: BlackBerry (BB.TO), Cineplex (CPG.TO), MAG Silver Corp (MAG.TO), SilverCrest Metals (SIL.TO), Pan American Silver Corp (PAAS.TO) and Toromont Industries (TIH.TO) posted strong gains. Our Stance: Technically, the index remains above the 21-period Simple Moving Average (SMA), signaling a continued short-term uptrend. The Relative Strength Index (RSI) at approximately 56.43 supports this bullish sentiment, indicating underlying strength and potential for further gains. Key support is identified around the 25,200 level, aligning with a crucial horizontal trendline. Commodity Update: The U.S. dollar remained near a one-week high against the Japanese yen on Thursday, following a hotter-than-expected consumer price report. Meanwhile, the euro received support as news broke that Washington plans to initiate talks with Russia to end the ongoing war in Ukraine. U.S. President Donald Trump also hinted at imposing reciprocal tariffs on countries charging duties on U.S. imports, fueling concerns of an escalating global trade war that could further
Index Update: The benchmark S&P/TSX Composite Index ended with a loss of 27.03 points or 0.11% at 25,631.83. The index, which dropped to 25,480.33 early on in the session, climbed to 25,672.90 and then stayed in a tight band. Macro Update: Powell noted interest rates have been lowered by a full percentage point since last September, describing the Fed's current policy stance as "significantly less restrictive than it had been. A statement from the White House said Trump is reinstating a 25 percent tariff on steel imports and increasing tariffs on aluminum imports to 25 percent. Top Movers: orex Gold Resources, Advantage Oil & Gas, Cenovus Energy, Air Canada, PrairieSky Royalty, MEG Energy, Vermilion Energy, BCE Inc., Stella Jones, and Keyera Corp gained 1.3 to 2.4%. Our Stance: Technically, there are signs of weakening momentum, raising concerns about potential further declines. Looking ahead, the key support level to monitor is 25,300, where the index aligns with a horizontal trendline. Holding above this level could pave the way for a potential rebound, while a break below it may lead to stronger downside tests between 25,300 and 25,100. Commodity Update: On Wednesday, the dollar retreated from its tariff-driven rally, dropping below recent
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