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 settled higher on Thursday with the benchmark S&P/TSX Composite Index moving on to a new record high. The benchmark S&P/TSX Composite Index, which climbed to a new all-time high of 25,137.70, settled with a gain of 60.65 points or 0.24% at 25,049.67, closing past the 25,000 mark for the first time. Macro Update: The U.S Labor Department released a report this morning showing first-time claims for U.S. unemployment benefits unexpectedly edged lower in the week ended November 9th. The report said initial jobless claims slipped to 217,000, a decrease of 4,000 from the previous week's unrevised level of 221,000. Economists had expected jobless claims to inch up to 223,000. Top Movers: Pollard Banknote (PBL.TO) climbed 10.5%. Vermilion Energy (VET.TO) gained 6.8%. Maple …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index closed up 66.01 points or 0.26% at 24,989.02. The index touched a low of 24,860.56 and a high of 25,002.96 in the session. Macro Update: Data from the Labor Department said the consumer price index crept up by 0.2% in October. The report also said the annual rate of consumer price growth accelerated to 2.6% in October from 2.4% a month earlier. The rate of core consumer price growth was unchanged from the previous month at 3.3%, which was also in line with estimates. Top Movers: CAE Inc (CAE.TO) ended with a big gain of 12%. Shopify Inc (SHOP.TO), Tecsys Inc (TCS.TO), Hammond Power Solutions (HPS.A.TO), Hut 8 Corp (HUT.TO), ATS Corporation (ATS.TO) and Molson Coors Canada (TPX.B.TO) gained 3 …
Image Souce: Krish Capital Pty Ltd Index Update: The market ended higher despite weak commodity prices triggering some heavy selling in energy and materials sectors. The benchmark S&P/TSX Composite Index, which rose to a new all-time high of 25,024.93, ended the session with a gain of 133.73 points or 0.54% at 24,923.01. Macro Update: A highly anticipated report on the U.S consumer price inflation is due to be released on Wednesday, while reports on producer price inflation, retail sales and industrial production are likely to attract attention later in the week. Top Movers: Converge Technology (CTS.TO), Sylogist (SYZ.TO) and Lightspeed Commerce (LSPD.TO) gained 5.95%, 5% and 3.75%, respectively. Bitfarms (BITF.TO) rallied 2.75%. Our Stance: Currently, the index is testing a critical support level near 23,850. Maintaining this level is essential to keep the bullish …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index closed up 29.88 points or 0.12% at 24,789.28, well off the day's high of 24,901.51, but still recorded a new closing high. Macro Update: Over the next few days, in the U.S the reports on consumer and producer price inflation are likely to attract attention along with reports on retail sales and industrial production this week. Top Movers: Technology stocks moved up sharply. Several stocks from the financials sector moved higher. Materials shares fell on weak metal prices. Technology stocks Bitfarms (BITF.TO) and Converge Technology Solutions (CTS.TO) closed stronger by about 16.9% and 7.3%, respectively. Our Stance: Currently, the index is testing a critical support level of around 23,950. Maintaining this support is vital for keeping the upward momentum intact. A …
Image Souce: Krish Capital Pty Ltd Index Update: The Canadian market ended lower on Friday as energy and materials stocks fell on weak commodity prices as the U.S. dollar climbed higher. The benchmark S&P/TSX Composite Index closed down 86.53 points or 0.35% at 24,759.40. The index, which touched a low of 24,679.72 and a high of 24,804.26 in the session, posted a gain of 2.1% in the week. Macro Update: Data from Statistics Canada showed employment in Canada rose by 14,500 in October, following a 46,700 increase in the previous month. The unemployment rate in Canada was at 6.5% in October, remaining unchanged from the previous month. Top Movers: Molson Coors Canada Inc (TPX.B.TO) rallied about 4%. RB Global (RBA.TO) climbed 3.2%. Shopify Inc (SHOP.TO), Descartes Systems Group (DSG.TO), Morguard Corporation (MRC.TO) and …
Image Souce: Krish Capital Pty Ltd Index Update: Canadian stocks moved mostly higher during trading on Thursday, extending the upward move seen over the two previous sessions. The benchmark S&P/TSX Composite Index advanced early in the session and saw further upside in the latter part of the session. The index ended the day up 208.48 points or 0.9 percent at a new record closing high of 24,845.93. Macro Update: After aggressively slashing interest rates by half a percentage point in September, the Fed said it has decided to lower the target range for the federal funds rate by 25 basis points to 4.50 to 4.75 percent. The central bank said its decision to continue lowering rates comes as labor market conditions have generally eased, while inflation continues to make progress towards its …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index closed with a gain of 249.55 points or 1.02% at 24,637.45, just a few points off the day's high. Macro Update: The Fed's monetary policy announcement is likely to be in the spotlight on Thursday, overshadowing reports on weekly jobless claims and third quarter labor productivity and costs. Top Movers: The Information Technology Capped Index climbed 3.01%. Bitfarms (BITF.TO) ended with a hefty gain of 17.8%. Celestica Inc (CLS.TO) rallied nearly 8%, while Quarterhill (QTRH.TO), Computer Modelling (CMG.TO), Converge Technology (CTS.TO) and Descartes Systems Group (DSG.TO) climbed 5.3 to 7%. Our Stance: The Relative Strength Index (RSI) sits at 61.82, indicating that while the market is in healthy territory, it is not yet overbought. This suggests room for further upside before …
Image Souce: Krish Capital Pty Ltd Index Update: The Canadian market closed higher on Tuesday, riding on strong gains in utilities, consumer staples and healthcare sectors. The benchmark S&P/TSX Composite Index closed up 131.84 points or 0.54% at 24,387.90, near the day's high of 24,393.82. Macro Update: On the economic front, the S&P Global Canada Composite PMI rose to 50.7 in October 2024 from 47.0 in September, indicating a return to marginal growth in the private sector after four months of contraction. The S&P Global Canada Services PMI rose to 50.4 in October 2024, up from 46.4 in September, signaling a marginal expansion in the services sector for the first time in five months. Top Movers: Capital Power Corporation (CPX.TO) climbed 5.3%. Sprott Inc (SII.TO), Celestica Inc (CLS.TO), Teck Resources (TECK.B.TO), goeasy (GSY.TO) …
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