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 showed a strong move to the upside in morning trading and remained firmly positive throughout the day. The Index jumped 221.72 points or 0.9 percent to 25,067.92, closing higher for the fourth straight day. Macro Update: The recent retreat by treasury yields came as the U.S. inflation data released over the past few days led to renewed optimism about the outlook for interest rates. Adding to the interest rate optimism, Federal Reserve Governor Christopher Waller told CNBC the central bank could lower interest rates multiple times this year if inflation eases as he is expecting. Canadian investment in foreign securities rose by $17.8 billion in November, the highest since March 2024, while foreign investors acquired $16.4 billion in Canadian securities, driven by record money market inflows. Top Movers: TD Bank surged 4.4% following the announcement of an accelerated CEO transition and strategic review under Raymond Chun, signaling renewed focus on growth and compliance. Heavyweights RBC, Enbridge, Brookfield, Thomson Reuters, and Canadian Natural Resources also advanced between 0.8% and 1.7%. Our Stance: the index remains in a favorable position, trading above its 21-period Simple Moving Average (SMA), which is indicative of a bullish trend.
Index Update: The benchmark S&P/TSX Composite Index ended higher by 56.90 points or 0.23% at 24,846.20, after scaling a low of 24,771.89 and a high of 24,884.20 intraday. Macro Update: The Canada Mortgage & Housing Corporation, housing starts in Canada dropped by 13.35% month-over-month to 231,500 units in December, the lowest level in three months. Top Movers: Molson Coors Canada (TPX.B.TO), Aritzia Inc (ATZ.TO), Celestica Inc (CLS.TO), Capital Power Corporation (CPX.TO), Emera Inc (EMA.TO), Brookfield Renewable Corporation (BEPC.TO) gained 2.5 to 4.6%. Our Stance: The index is currently testing a key support level at 24,400, which has held steady thus far. Maintaining this level is critical to avoid a deeper pullback. A break below 24,400 could lead the index to test lower support zones in the 24,200–24,400 range. Commodity Update: The Japanese yen is set for its best weekly performance in over a month, as market expectations rise that the Bank of Japan will raise interest rates next week. Positive data, including strong wage growth and persistent price pressure, have fueled this outlook, with traders assigning an 80% probability of a rate hike. Meanwhile, in commodities, gold dipped 0.13% to $2,747.30, silver fell 0.34% to $31.61, and copper rose 0.30%
Index Update: The benchmark S&P/TSX Composite Index ended with a gain of 200.72 points or 0.82% at 24,789.30, about 100 points off the day's high of 24,879.24. Macro Update: U.S. consumer prices data showed headline inflation in the world's largest economy rose marginally above forecasts in December, while the core number came in softer than expected on an annual basis. Canadian factory sales grew by 0.8% in November on higher sales of aerospace products and parts, as well as petroleum and coal products. Top Movers: Celestica Inc (CLS.TO), Converge Technoloy Services (CTS.TO), BlackBerry (BB.TO), Tecsys (TCS.TO), Sangoma Technologies (STC.TO), Shopify Inc (SHOP.TO), Enghouse Systems (ENGH.TO), Open Text Corporation (OTEX.TO) and Descartes Systems Group (DSG.TO) gained 2 to 4%. Bitfarms (BITF.TO) climbed nearly 5%. Our Stance: The current rally appears more corrective than trend-reversing at this stage. The Relative Strength Index (RSI), sitting at 46.40, reflects a neutral positioning, indicating the market has room for additional upside before nearing overbought territory. This opens the possibility for further advances, provided key levels are maintained. Crucially, the index is testing a support level around 24,400, which has so far held firm. Commodity Update: The U.S. dollar edged lower on Thursday, retreating from recent
Index Update: The benchmark S&P/TSX Composite Index closed with a gain of 52.26 points or about 0.2% at 24,588.58. Macro Update: The U.S Labor Department said its producer price index for final demand crept up by 0.2 percent in December after climbing by 0.4 percent in November. Economists had expected producer prices to rise by 0.3 percent. Top Movers: The Materials Capped Index climbed nearly 1.5%. Fortuna Silver Mines (FVI.TO), Silvercrest Metals (SIL.TO) and MAG Silver Corp (MAG.TO) gained 6.4 to 7.4%. First Majestic Silver Corp (AG.TO), Kinross Gold Corp (K.TO), New Gold (NGD.TO), Oceanagold Corp (OGC.TO) and Ssr Mining (SSRM.TO) climbed 4 to 5%. Our Stance: This neutral RSI reading suggests that while the market is not overheating, there is still some strength in the rally, allowing for possible further upside without an immediate risk of a pullback. At present, the index is testing a critical support level around 24,200, a level that will be pivotal in determining the next direction for the market. Commodity Update: The dollar’s strong rally encountered a setback on Wednesday as traders turned cautious ahead of the U.S. consumer inflation report, leading to reluctance to take on new positions. The dollar’s decline was largely
Index Update: The benchmark S&P/TSX Composite Index, which tumbled to 24,693.75 in early trades, closed down 305.63 points or 1.22% at 24,767.73. The index shed about 1.1% in the week. Macro Update: Canadian employment data came in stronger than expected, reducing prospects of any significant monetary easing by the Bank of Canada. Data from Statistics Canada showed employment in Canada advanced by 91,000 in December 2024, the largest gain since January 2023, following a 51,000 rise in the previous month. Meanwhile, the unemployment rate in Canada dropped to 6.7% in December, from 6.8% a month earlier. Top Movers: Maple Leaf Foods (MFI.TO), Aura Minerals (ORA.TO), Canadian Tire Corporation (CTC.TO), Gildan Activewear (GIL.TO), Lundin Gold (LUG.TO), Suncor Energy (SU.TO), Hut 8 Corp (HUT.TO) and Imperial Oil (IMO.TO) also posted impressive gains. Our Stance: Key levels are critical in determining the next potential move. The immediate support for the index is seen at 24,300. If the index holds above this level, there could be a chance for a rebound. However, should the index break below 24,300, it could prompt a deeper correction, with the next support zone found at 24,000. Commodity Update: The U.S. dollar surged at the start of the week,
Index Update: The market gained despite reports that U.S. President-elect Donald Trump is planning to impose new tariffs. The benchmark S&P/TSX Composite Index ended the session with a gain of 121.79 points or 0.49% at 25,051.68, slightly off the day's high of 25,061.55. Macro Update: The Federal Reserve released the minutes of its latest monetary policy meeting later in the day, they did not provide much insight into the outlook for interest rates other than to suggest officials plan to take a "careful approach" to future decisions. Top Movers: K92 Mining Inc (KNT.TO) zoomed nearly 16%. Equinox Gold Corp (EQX.TO) climbed 10%. Eldorado Gold (ELD.TO), Celestica Inc (CLS.TO), ATCO (ACO.Y.TO), Constellation Software (CSU.TO), Franco-Nevada Corporation (FNV.TO), Brookfield Asset Management (BAM.TO), Alamos Gold (AGI.TO) and Arc Resources (ARX.TO) gained 3 to 5%. Our Stance: A breach below 24,600 could indicate a risk of retracement, with key support levels identified between 24,500 and 24,200 on the weekly chart. For the bullish trend to remain intact, it is crucial that the index holds above these support levels, ensuring continued growth potential in the near term. Commodity Update: The U.S. dollar strengthened on Thursday, driven by rising Treasury yields, putting pressure on the yen,
Index Update: The benchmark S&P/TSX Composite Index ended with a loss of 69.90 points or 0.28% at 24,929.89. The index, which climbed to 25,197.00 in early trades, dropped to a low of 24,863.85 in the final hour. Macro Update: Data from Statistics Canada showed the nation's trade deficit stood at C$ 0.32 billion in November, narrowing from an upwardly revised C$ 0.54 billion gap in the previous month. Top Movers: Precision Drilling Corporation (PD.TO) climbed 4.7%. Imperial Oil (IMO.TO), Suncor Energy (SU.TO), Cogeco Communications (CCA.TO), Quebecor Inc (QBR.TO), Franco-Nevada Corporation (FNV.TO) and Agnico Eagle Mines (AEM.TO) lost 2 to 4.5%. Our Stance: Traders are closely monitoring technical indicators to gauge the market's direction in the short term. Key levels are critical in determining the next potential move. The immediate support for the index is seen at 24,500. If the index holds above this level, there could be a chance for a rebound. However, should the index break below 24,500, it could prompt a deeper correction, with the next support zone found at 24,200. Commodity Update: The U.S. dollar strengthened on Wednesday, while the Japanese yen weakened near levels that prompted intervention last year, following strong U.S. economic data that pushed
Index Update: The Canadian market closed on a firm note on Monday, lifted by gains in energy stocks. The benchmark S&P/TSX Composite Index, which dropped to 24,510.50, rallied to close with a gain of 149.50 points or 0.61% at 24,748,98. Macro Update: The Canadian GDP contracted for the first time in eleven months, declining by 0.1% from the previous month in November. In October, the Canadian GDP expanded by 0.3%, revised higher from the flash reading of a 0.1% rise, after rising by a revised 0.2% in September. Industrial product prices in Canada rose by 0.6% month-over-month in November, following a 1.2% increase in October. Producer prices increased 2.2% year-over-year in November, following a 1.1% rise in October. Top Movers: Paramount Resources (POU.TO) and North American Construction Group (NOA.TO) gained 5.95% and 5%, respectively. CAE Inc (CAE.TO), Celestica Inc (CLS.TO), CCL Industries (CCL.A.TO), Methanex Corporaton (MX.TO) and Brookfield Infrastructure (BIPC.TO) also closed with strong gains. Our Stance: Traders are monitoring key technical levels to gauge the market's direction. Immediate support is at 24,250, which could help prevent further declines. A rebound is possible if this level holds, especially if the energy sector stabilizes. A break below 24,250, however, could signal
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