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 Canadian market ended down on Tuesday as trade war fears resurfaced after U.S. President-elect Donald Trump threatened that he will impose 25% tariffs on imports from Canada, Mexico and China. The benchmark S&P/TSX Composite Index, which fell to 25,288.46 in early trades, closed down 5.21 points or 0.02% at 25,405.14 Macro Update: Data from Statistics Canada showed wholesale sales in Canada increased by 0.5% month-over-month in October 2024, following a 0.8% gain in September, according to preliminary estimates. Top Movers: Quebecor Inc (QBR.A.TO), Brookfield Asset Management (BAM.TO), Agnico Eagle Mines (AEM.TO), Wheaton Precious Metals (WPM.TO), Russel Metals (RUS.TO), Franco-Nevada Corporation (FNV.TO), Celestica Inc (CLS.TO) and Metro (MRU.TO) lost 2 to 4.5%. Our Stance: From a technical perspective, the immediate support level is seen at 24,900. …
Image Souce: Krish Capital Pty Ltd Index Update: Despite posting a new all-time high around mid-morning, the Canadian market ended on a negative note on Monday, due to sharp losses in energy and materials sectors. The benchmark S&P/TSX Composite Index ended down 33.93 points or 0.13% at 25,410.35. Macro Update: On the economic front, data from Statistics Canada said manufacturing sales in Canada likely rose by 1.3% month-over-month in October, rebounding from a 0.5% decline in September against expectations of a 0.8% drop, according to preliminary estimates. Top Movers: Richelieu Hardware (RCH.TO), Aritzia Inc (ATZ.TO), Shopify Inc (SHOP.TO), Magna International (MG.TO), Bombardier Inc (BBD.B.TO), MTY Food Group (MTY.TO), Onex Corporation (ONEX.TO), Linamar Corporation (LNR.TO), FirstService Corporation (FSV.TO) and Canadian Tire Corporation (CTC.A.TO) gained 2.3 to 5%. Our Stance: The Relative Strength Index (RSI) …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index, which advanced to a new all-time high of 25,478.37, settled at 25,444.28 with a gain of 53.60 points or 0.21%. Macro Update: On the economic front, retail sales in Canada are expected to have surged by 0.7% from the previous month in October, according to flash estimate. Retails in Canada rose by 0.8% year-on-year in September, following a 1.4% increase in the previous month. Data from Statistics Canada showed industrial producer prices in Canada rose by 1.2% month-over-month in October, rebounding from a revised 0.8% decline in the previous month. On a yearly basis, producer prices rose by 1.1% in October, after a revised 1% fall in the previous month. Top Movers: Hut 8 Corp (HUT.TO) zoomed 10.5%. ATS Corporation …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index, which climbed to a new record high of 25,402.06, ended the session with a gain of 354.22 points or 1.41% at 25,390.68. Macro Update: The Canadian government unveiled a mini stimulus package. The measures announced by the government will cost the Canadian treasury an estimated 6.3 billion Canadian dollars, and include a temporary, two-month sales-tax exemption on certain goods and services. Furthermore, the Liberal government will issue a onetime tax-free cash transfer of C$250 to individuals who earn less than C$150,000 Canadian dollars a year. Data from Statistics Canada showed industrial producer prices in Canada rose by 1.2% month-over-month in October, rebounding from a revised 0.8% decline in the previous month. On a yearly basis, producer prices rose by 1.1% …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index closed up 25.69 points or 0.1% at 25,036.46, slightly off the day's high. The index dropped to a low of 24,909.72 a little before noon. Macro Update: Canada 10 Year Government Bond Yield increased to a 16-week high of 3.38%. Additionally, annual inflation rate in Canada rose to 2% in October from an over-three-year low of 1.6% in the previous month. Top Movers: Tenaz Energy (TNZ.TO) gained about 5.5%. Tourmaline Oil Corp (TOU.TO) climbed 4.5%. Precision Drilling Corporation (PD.TO) advanced nearly 4%. Keyera Corp (KEY.TO), K-Bro Linen (KBL.TO), CCL Industries (CCL.B.TO), Calian Group (CGY.TO) and Brookfield Renewable Corporation (BEPC.TO) moved up 2 to 3%. Our Stance: The index is currently testing a crucial support level around 24,500. Holding this level is …
Image Souce: Krish Capital Pty Ltd Index Update: Canadian stocks tumbled Tuesday morning, hurt by hot inflation data and escalating geopolitical tensions, but recovered gradually to eventually end the day's session on a slightly positive note. The benchmark S&P/TSX Composite Index, which dropped nearly 200 points to 24,787.79 in early trades, settled at 25,010.77, gaining 33.83 points or 0.14%. Macro Update: Data from Statistics Canada showed the annual inflation rate in Canada rose to 2% in October from an over-three-year low of 1.6% in the previous month. The consumer price index increased 0.4% in October over the previous month. The annual core inflation rate in Canada increased to 1.7% in October, up from 1.6% a month earlier. On a monthly basis, core consumer prices rose by 0.4% in October, after being flat …
Index Update: The Canadian market closed on a firm note on Monday, lifted by gains in energy and materials stocks as commodity prices climbed higher amid an escalation in the Russia - Ukraine war. The benchmark S&P/TSX Composite Index, which climbed to 25,082.87, ended with a gain of 86.26 points or 0.35% at 24,976.94. Macro Update: On the economic front, data from Canada Mortgage & Housing Corporation showed housing starts in Canada increased by 7.8% month-over-month to 240,761 units in October, the highest level in three months. Top Movers: Methanex Corporation (MX.TO), Capital Power Corporation (CPX.TO), Stella-Jones (SJ.TO), Teck Resources (TECK.B.TO), Bank of Nova Scotia (BNS.TO), Sprott Inc (SII.TO), TerraVest Industries (TVK.TO), Bombardier Inc (BBD.B.TO), GFL Environmental (GFL.TO) and Celestia Inc (CLS.TO), Restaurant Brands International (QSR.TO) and CGI Inc (GIB.A.TO) closed up 1.5 …
Index Update: The benchmark S&P/TSX Composite Index, which opened at 25,004.49 and dropped to a low of 24,814.91 around mid afternoon, ended the day's session at 24,890.68 with a loss of 158.99 points or 0.63%. The index posted a modest gain for the week. Macro Update: Data from Statistics Canada showed manufacturing sales in Canada decreased 0.5% month-over-month in September, less than initial estimates of a 0.8% drop and following a 1.3% fall in August. Wholesale sales in Canada declined 0.8% month-over-month in September, less than preliminary estimates of a 0.9% rise, and reversing the 0.6% decline in August. Top Movers: Pollard Banknote (PBL.TO) climbed 10.5%. Vermilion Energy (VET.TO) gained 6.8%. Maple Leaf Foods (MFI.TO) closed up 5.2%. Aecon Group (ARE.TO), CI Financial Corp (CIX.TO), Parklans Corporation (PKI.TO), Imperial Oil (IMO.TO), Precision Drilling …
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