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 settled with a gain of 215.95 points or 0.85% at 25,658.86. The index scaled a low of 25,562.84 and a high of 25,720.63 intraday. Macro Update: Trump said over the weekend that he would announce new 25% tariffs on all steel and aluminium imports, raising fears of a brewing global trade war and its potential impact on the global economy. Canada is among the largest sources of U.S. steel imports, and is also a major supplier of primary aluminum to the U.S. Top Movers: Newomont Corporation (NGT.TO), Parklans Corporation (PKI.TO), Mty Food Group (MTY.TO), Restaurant Brands International (QSR.TO), Nutrien (NTR.TO), Finning International (FTT.TO), Tourmaline Oil Corporation (TOU.TO), Kinaxis Inc (KXS.TO), Pan American Silver Corp (PAAS.TO) and Lundin Gold (LUG.TO) ended higher by 2.5 to 4%. Our Stance: Technically, the index remains in a strong position, trading well above its 21-period Simple Moving Average (SMA), reinforcing the bullish trend. However, the index is now testing an important support level around 25,300. This level will be crucial for maintaining the upward trend. If the index manages to hold above this level, the bullish sentiment could remain intact, with further gains possible. Commodity Update: Gold prices
Index Update: The benchmark S&P/TSX Composite Index ended with a loss of 91.58 points or 0.36% at 25,442.91, after scaling a low of 25,380.38 and a high of 25,587.53 intraday. The index recorded a weekly loss of 0.35%. Macro Update: Data from Statistics Canada showed employment in Canada advanced by 76,000 in January 2025, marking the sixth consecutive monthly increase. In December 2024, the economy had added 91,000 jobs. The unemployment rate in Canada fell to 6.6% in January 2025 from 6.7% in the previous month. That was less than the forecast for a 6.8% drop. Top Movers: Converge Technology Solutions (CTS.TO) soared more than 53%. Lightspeed Commerce (LSPD.TO) and Coveo Solutions (CVO.TO) gained 4% and 2.6%, respectively. BlackBerry (BB.TO) climbed 1.8%. Our Stance: The market's bullish momentum continues to hold, despite the recent pullback. Looking ahead, the 25,100 level stands as a critical support zone. If the index can maintain its position above this threshold, the potential for a rebound remains intact, supporting the outlook for continued bullishness. However, should the index break below this support, attention will shift to the 25,000 and 24,600 levels as the next key areas to watch. Commodity Update: The U.S. dollar strengthened on
Index Update: The benchmark S&P/TSX Composite Index climbed off its worst levels going into the close but still ended the day down 35.35 points or 0.1 percent at 25,534.49. Macro Update: The traders looked ahead to the release of the U.S. Labor Department's closely watched monthly employment report on Friday. The report, which is expected to show employment climbed by 170,000 jobs in January after jumping by 256,000 jobs in December, could impact the outlook for interest rates. Top Movers: Oil-linked equities led the decline, with Canadian Natural, Suncor, and Cenovus falling between 0.8% and 2.3%, including Suncor despite surpassing market expectations for fourth-quarter profit, benefiting from higher oil production and strong refined product sales. Additionally, e-commerce mega cap Shopify tumbled 2.5%, weighing heavily on the index. Our Stance: the index’s position above the 21-period Simple Moving Average (SMA) suggests that the broader short-term trend remains bullish, indicating that despite the pullback, the overall market structure is still positive. The 25,200 level, acting as immediate support, will be a key point of interest for traders. If the index holds above this level, there could be a chance for a rebound, maintaining the bullish outlook. However, if the index falls below
Index Update: The benchmark S&P/TSX Composite Index settled with a gain of 290.49 points or 1.15% at 25,569.84, rising for the second consecutive day following the U.S. President Donald Trump agreeing to hold off tariffs against Canadian imports by a month. Macro Update:In economic news, the S&P Global Canada Composite PMI improved to 49.5 in January 2025, up from 49.0 in December. The S&P Global Canada Services PMI recorded 49.0 in January 2025, slightly up from 48.2 in December 2024. Canada posted a trade surplus of C$0.7 billion in December of 2024, after recording an upwardly revised deficit of C$1 billion in November. Exports of goods jumped by 4.9% from the previous month to C$69.5 billion, while imports rose by 2.3% to a record high of $68.8 billion. Top Movers: Mattr Corp (MATR.TO), Transcontinental (TII.TO), New Gold (NG.TO), Hudbay Minerals (HBM.TO), Bombardier Inc (BBD.B.TO), MEG Energy (MEG.TO), Crescent Point Energy (CPG.TO), Oceanagold (OGC.TO), Real Matters (REAL.TO) and Precision Drilling (PD.TO) moved up 3 to 4%. Our Stance: From a technical standpoint, the index's technical outlook remains positive, as it holds well above its 21-period Simple Moving Average (SMA), maintaining its bullish momentum. At present, the index is testing a critical
Index Update: The benchmark S&P/TSX Composite Index, which climbed to 25,446.17, gaining more than 200 points in the process, pared most of its gains and ended the session just 37.59 points or 0.15% up at 25,279.35. Macro Update:Still, with the U.S. and China slapping levies on each other, worries about global economic outlook lingered, rendering the mood cautious. Top Movers: Mattr Corp (MATR.TO), Transcontinental (TII.TO), New Gold (NG.TO), Hudbay Minerals (HBM.TO), Bombardier Inc (BBD.B.TO), MEG Energy (MEG.TO), Crescent Point Energy (CPG.TO), Oceanagold (OGC.TO), Real Matters (REAL.TO) and Precision Drilling (PD.TO) moved up 3 to 4%. Our Stance: From a technical standpoint, the index is well above its 21-period Simple Moving Average (SMA), signaling a bullish trend that suggests further potential upside. The Relative Strength Index (RSI) is at 51.92, indicating a robust market environment, yet still leaving room for additional growth. Currently, the index is testing a critical support level around 24,900. Maintaining this level is essential for sustaining upward momentum; a drop below could lead to a pullback, with important support thresholds identified at 24,900 and 24,500. Commodity Update: On Wednesday, the dollar gave up some of its recent gains as investors perceived increased chances for the Federal Reserve
Index Update: The benchmark S&P/TSX Composite Index, which plunged nearly 800 points to 24,742.92 in early trades, ended the day's session with a loss of 291.34 points or 1.14% at 25,241.76. Macro Update:On the economic front, a report from S&P Global said, the S&P Global Canada Manufacturing PMI fell to 51.6 in January, down from 52.2 a month earlier, signaling a slower expansion. The reading dropped for a fifth straight month. Top Movers: Equinox Gold Corp (EQX.TO) climbed 8.7%. Aura Minerals (ORA.TO) rallied 6.5%. Iamgold Corp (IMG.TO), Pan American Silver Corp (PAAS.TO), Wesdome Gold Mines (WDO.TO), Alamos Gold Inc (AGI.TO), Agnico Eagle Mines (AEM.TO), Kinaxis Inc (KXS.TO), Dundee Precious Metals (DPM.TO), Seabridge Gold (SEA.TO), Lundin Gold (LUG.TO), Waste Connections (WCN.TO) and Wheaton Precious Metals (WPM.TO) also moved up sharply. Our Stance: Looking ahead, traders are closely monitoring the 25,000 level as a critical support zone. If the index manages to hold above this threshold, there may be potential for a recovery. However, a move below the 25,000 mark would heighten concerns of further declines. Commodity Update: The U.S. dollar and oil declined on Tuesday following President Donald Trump's decision to pause new tariffs on Mexico for a month. This decision
Index Update: The benchmark S&P/TSX Composite Index ended with a loss of 275.15 points or 1.07% at 25,533.10. The index gained 0.25% in the week. Macro Update:Data from Statistics Canada showed Canadian real gross domestic product decreased 0.2% in November. According to preliminary estimates, the economy rebounded in December and GDP likely grew 0.2%. Top Movers: Molson Coors Canada (TPX.A.TO) plunged 9%. Finning International (FTT.TO) closed down 6.5%. Propel Holdings (PRL.TO), BRP Inc (DOO.TO), MTY Food Group (MTY.TO), Russel Metals (RUS.TO), Magna International (MG.TO) and Linamar Corporation (LNR.TO) lost 4 to 5.1%. Our Stance: Traders will be watching the 25,000 level closely, as it represents immediate support. If the index maintains its position above this mark, there could be a potential for a bounce back. However, a break below 23,800 would significantly increase the chances of further declines, with support zones at 23,800 and 23,600 emerging as key levels to watch. Commodity Update: The U.S. dollar surged Monday, driving the Canadian dollar and Mexican peso to multi-year lows. At the same time, China’s yuan hit a record low in offshore trading after President Trump’s trade war intensification. The dollar’s strength was widespread, with the euro falling to a two-year low
Index Update: The benchmark S&P/TSX Composite Index ended with a solid gain of 334.95 points or 1.31% at 25,808.25. The index scaled a fresh record high of 25,875.61 in the session. Macro Update:Data from Statistics Canada said average weekly earnings of non-farm payroll employees in Canada rose by 5% year-on-year to $1,285.91 in November 2024, the most in five months, following an upwardly revised 4.2% growth in October. Top Movers: Sangoma Technologies (STC.TO) rallied 5.5%. CGI Group (GIB.A.TO), Bitfarms (BITF.TO), Open Text Corp (OTEX.TO), Shopify Inc (SHOP.TO), Coveo Solutions (CVO.TO) and Lightspeed Commerce (LSPD.TO) gained 2 to 4.1%. Our Stance: From a technical perspective, the index remains in a favorable position, trading above its 21-period Simple Moving Average (SMA), which is indicative of a bullish trend. Currently, the index is testing a crucial support level around 25,400. The ability to maintain this level is important for sustaining the upward momentum. A breach below 24,800 could signal a retracement risk, with key support levels on the weekly chart identified as around 25,200 to 25,000. Commodity Update: On Friday, tariff concerns drove the dollar and gold prices up. U.S. economic growth data for Q4 showed a slowdown yet remained strong enough for
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