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 Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index, which hit a new record high at 25,826.98, closed up 11.76 points or 0.05% at 25,691.80. The index gained 0.17% in the week. Macro Update: Data from Statistics Canada said employment in Canada rose by 51,000 in November of 2024, the most in seven months, extending the slight change of 14,500 from the previous month and well above the market consensus of 25,000. Meanwhile, the unemployment rate in Canada rose to 6.8% in November, from 6.5% in the previous month. The unemployment rate was expected to come in at 6.6%. Top Movers: Technology stock Bitfarms (BITF.TO) soared nearly 10%. Shopify Inc (SHOP.TO), Sangoma Technologies (STC.TO), Enghouse Systems (ENGH.TO), Celestica Inc (CLS.TO), Coveo Solutions (CVO.TO), Descartes Systems Group (DSG.TO) and Lightspeed …
Image Souce: Krish Capital Pty Ltd Index Update: The Canadian market hit new intraday and closing highs on Thursday. The benchmark S&P/TSX Composite Index, which posted a new high 25,760.15 around mid afternoon, gave up some gains, and settled at 25,680.04, up 38.86 points or 0.15% from Wednesday's close. Macro Update: Economists currently expect the U.S employment to jump by 200,000 jobs in November after inching up by 12,000 jobs in October, while the unemployment rate is expected to tick up to 4.2 percent from 4.1 percent. The jobs data could impact the outlook for interest rates ahead of the Federal Reserve's next monetary policy meeting later this month. Top Movers: Capital Power Corporation (CPX.TO) climbed 6%. First Quantum Minerals (FM.TO) rallied 5.2%. Cineplex (CGX.TO) gained nearly 4.5%. Bombardier Inc (BBD.B.TO), Loblaw Companies (L.TO), …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index, which posted a new intraday high at 25,743.53 in early trades, dropped to a low of 25,573.61 and finally ended the session at 25,641.18, up 5.45 points or 0.02%. Macro Update: Data from S&P Global showed that the S&P Global Canada Composite PMI rose to 51.5 in November 2024, up from 50.7 in October, marking the fastest private sector growth since May 2022 and a second consecutive month of expansion. The S&P Global Canada Services PMI rose to 51.2 in November 2024, the highest since April 2023, up from 50.4 in the prior month. Although the services sector posted a second month of growth, the expansion remained modest overall with new business largely unchanged since October. Top Movers: Hut 8 Corp (HUT.TO) …
Index Update: The benchmark S&P/TSX Composite Index, which climbed more than 100 points to 25,693.68 at the start but dropped to 25,578.72 soon thereafter, ended the day's session at 25,635.73 with a gain of 45.40 points or 0.18%. Macro Update: The U.S The Labor Department said job openings climbed to 7.744 million in October from a downwardly revised 7.372 million in September. Top Movers: Celestica (CLS.TO), Alamos Gold (AGI.TO), Propel Holdings (PRL.TO), Agnico Eagle Mines (AEM.TO), MDA Space (MDA.TO), Bombardier Inc (BBD.B.TO), Premium Brands Holdings (PBH.TO), Jamieson Wellness (JWEL.TO) and North West Company (NWC.TO) closed higher by 3 to 5.4%. Our Stance: Traders closely monitor key technical levels, particularly the immediate support at 24,900. If the index manages to stay above this level, it could pave the way for a potential rebound. However, a break …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index closed down 57.67 points or 0.22% at 25,590.33, after scaling a low of 25,492.57 and a high of 25,706.50 intraday. Macro Update: On the economic front, the S&P Global Canada Manufacturing PMI improved to 52.0 in November 2024, up from 51.1 in October, marking the strongest growth in factory activity since February 2023 and the third consecutive month of expansion. Top Movers: Methanex Corporation (MX.TO), Nutrien (NTR.TO), Dayforce (DAY.TO), BRP Inc (DOO.TO), Linamar Corporation (LNR.TO), Canadian Western Bank (CWB.TO), Loblaw (L.TO), Alimentation Couche-Tard (ATD.TO), Thomson Reuters (TRI.TO), Constellation Software (CSU.TO), Gildan Activewear (GIL.TO) and Fairfax Financial Holdings (FFH.TO) closed up 1 to 3.2%. Our Stance: Key technical levels are in focus, with immediate support at 24,900. Holding above this level could …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index climbed to 25,694.45 before settling at 25,648.00, with a gain of 104.48 points or 0.41%. Macro Update: Data from Statistics Canada showed the Canadian GDP expanded by 0.3% from the earlier quarter in the three months to September of 2024, slowing from 0.5% expansions in the first two quarters of the year. Top Movers: Atco Ltd. (ACO.Y.TO) shares rallied 6.7% and Telesat Corporation (TSAT.TO) climbed 6%. Cogeco Communications (CCA.TO) closed up 4.7%, while Quebecor (QBR.A.TO) and Hut 8 Corp (HUT.TO) gained 3.8% and 3.3%, respectively. Our Stance: Currently, the index is testing a critical support level of around 24,850. Maintaining this level is essential for sustaining upward momentum; a drop below could lead to a pullback, with important support thresholds identified …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index posted a new all-time high of 25,593.47 and closed up 55.22 points or 0.22% at 25,543.52. Macro Update: Data from Statistics Canada showed that average weekly earnings of non-farm payroll employees in Canada rose by 5.2% year-on-year to $1,280.3 in September 2024, the largest increase since March 2021, following a 4.9% increase in August. Top Movers: Dye & Durham (DND.TO), ATS Corporation (ATS.TO), Morguard Corporation (MRC.TO) and Rogers Communications (RCI.A.TO) climbed 2.3 to 4%. Celestica Inc (CLS.TO), Parkland Corporation (PKI.TO), TFI International (TFII.TO), Bombardier Inc (BBD.B.TO), goeasy (GSY.TO), Cameco Corporation (CCO.TO), Dayforce (DAY.TO) and GFL Environmental (GFL.TO) also closed notably higher. Our Stance: Currently, the index is testing a critical support level of around 24,850. Maintaining this level is essential for …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index climbed 83.16 points or 0.3 percent to a new record closing high of 25,488.30. Macro Update: While the Federal Reserve's preferred inflation readings showed an acceleration by the annual rate of consumer price growth, the data has still increased optimism the central bank will cut interest rates again next month. Top Movers: Investment management giant Brookfield led the advance with a 1.9% increase, while railway operators Canadian National and Canadian Pacific rebounded with respective gains of 1.2% and 1%. Additional contributors included Loblaw Companies, Canadian Natural, and Great West Lifeco, which added between 0.7% and 1.5%. Our Stance: Looking ahead, the index is positioned above a key rising trendline around the 24,900 mark. Staying above this trend line is critical for …
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