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 ended at 24,256.06, up less than a point from the previous close. The index, which climbed to 24,353.36 early morning, dropped to a low of 24,162.22 at noon. Macro Update: The Fed is widely expected to lower interest rates by another 25 basis points, but traders will be looking to the accompanying statement for clues about the likelihood of future rate cuts. Top Movers: Nutrien (NTR.TO), TerraVest Industries (TVK.TO), Brookfield Renewable Partners (BEP.UN.TO), Brookfield Renewable Corporation (BEPC.TO), Tecsys Inc (TCS.TO), Precision Drilling Corporation (PD.TO), Cogeco Inc (CGO.TO), Celestica Inc (CLS.TO) and Brookfield Asset Management (BAM.TO) gained 2.5 to 4.6%. Our Stance: The current reading still supports the idea that the market has room for further upside, assuming buying momentum continues. The index is currently testing a crucial …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index climbed to 24,365.11 by late morning, but pared a substantial portion of its gains as the day progressed and eventually closed up 98.29 points or 0.41% at 24,255.16. The index recorded a weekly loss of 0.85%. Macro Update: A report from S&P Global said that its Canada Manufacturing PMI rose to 51.1 in October from 50.4 in the previous month, marking the second consecutive expansion in the nation's factory activity after 17 consecutive monthly contractions. Top Movers: Fairfax Financial Holdings (FFH.TO) jumped more than 9%, Kinaxis Inc (KXS.TO) gained about 7.4% and Dayforce (DAY.TO) gained 7.3%. Docebo Inc (DCBO.TO) and Magna International (MG.TO) both ended higher by about 6.5%. Our Stance: Currently, the index is testing a crucial support level around …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index ended down 350.92 points or 1.43% at 24,156.87. The index tumbled to a low of 24,098.49, a three-week low, in the session. Macro Update: Canada's GDP likely grew by 0.3% in September, data from Statistics Canada showed. Economic growth in August, however, was stagnant, consistent with preliminary estimates and market expectations. Wages in Canada increased 4.6% in August 2024 over the same month in the previous year, a separate data from Statistics Canada said. Top Movers: Morguard Corporation (MRC.TO) ended down 4.4%. West Fraser Timber (WFG.TO) lost 3.7%, while Constellation Software (CSU.TO), Canadian Tire Corporation (CTC.A.TO), Franco-Nevada Corporation (FNV.TO) and Descartes Systems Group (DSG.TO) lost 2.2 to 3.1%. Our Stance: Looking ahead, the key level to watch is the immediate support …
Image Souce: Krish Capital Pty Ltd Index Update: The Canadian market ended weak on Wednesday, weighed down by losses in materials and technology sectors. The benchmark S&P/TSX Composite Index ended down 54.76 points or 0.22% at 24,507.79 after scaling a low of 24,428.10 and a high of 24,571.26 intraday. Macro Update: On the U.S. economic front, payroll processor ADP released a report showing private sector employment in the U.S. shot up by much more than anticipated in the month of October. The U.S Commerce Department said gross domestic product shot up by 2.8 percent in the third quarter after surging by 3.0 percent in the second quarter. Economists had expected another 3.0 percent jump. Top Movers: Fortuna Silver Mines (FVI.TO), Seabridge Gold (SEA.TO), First Majestic Silver Corp (AG.TO), Pan American Silver Corp (PAAS.TO) and …
Image Souce: Krish Capital Pty Ltd Index Update: the Canadian market retreated Tuesday morning and spent the rest of the day's session in negative territory as investors digested quarterly earnings updates from Canadian and U.S. companies and awaited some crucial economic data for directional cues. The benchmark S&P/TSX Composite Index ended down 3.11 points or 0.01% at 24,562.55. The index touched a low of 24,461.86 and a high of 24,591.36 intraday. Macro Update: On the economic front, data from Statistics Canada showed wholesale sales in Canada rose by 0.9% month-over-month in September, following a 0.6% decline in August, according to preliminary estimates. Top Movers: GFL Environmental (GFL.TO) gained about 3.2%. Agnico Eagle Mines (AEM.TO), Wheaton Precious Metals (WPM.TO), Waste Connections (WCN.TO), Descartes Systems Group (DSG.TO) and Onex Corporation (ONEX.TO) climbed 1.6 to 2.7%. …
Image Souce: Krish Capital Pty Ltd Index Update: After five successive days of losses, the Canadian market closed on a firm note on Monday. The benchmark S&P/TSX Composite Index ended up by 101.99 points or 0.42% at 24,565.66. The index touched a low of 24,406.42 and a high of 24,598.96. Macro Update: The U.S monthly jobs report as well as a report on personal income and spending that includes the Federal Reserve's preferred inflation readings are likely to be in the spotlight. Reports on third quarter U.S GDP, consumer confidence, pending home sales and manufacturing sector activity may also attract some attention. Another data from Statistics Canada said the new house price index in Canada remained unchanged at 0% in September. On a yearly basis, the index increased to 0.2% in September …
Image Souce: Krish Capital Pty Ltd Index Update: The TSX Composite extending losses to a fifth straight session, on concerns about the outlook for economic growth, and on uncertainty about the outcome of the upcoming U.S. presidential election. The benchmark S&P/TSX Composite Index ended the day's session with a loss of 87.88 points or 0.36% at 24,463.67. The index dropped nearly 1.5% in the week. Macro Update: Data from Statistics Canada showed retail sales in the country likely increased by 0.4% from the previous month in September, according to flash estimate. Retail sales increased 1.4% in August over the same month in the previous year while Manufacturing sales in Canada decreased by 0.8% in September from -1.3% in August. Another data from Statistics Canada said the new house price index in Canada remained …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index, which edged up slightly at the start to 24,590.52, fell to 24,372.34 around noon, but recovered gradually to settle at 24,551.55, with a loss of 22.07 points or 0.09%. Macro Update: In the U.S the Commerce Department released a report showing new home sales surged to their highest level in over a year in September. Top Movers: Celestica Inc (CLS.TO) soared 18.3%. Celestica reported revenue of $2.50 billion for the third quarter of 2024, up 22% from $2.04 billion in the corresponding quarter of the previous year. Colliers International (CIGI.TO) gained 4.8%. Brookfield Asset Management (BAM.TO), Docebo Inc (DCBO.TO), TFI International (TFII.TO), Gildan Activewear (GIL.TO) and Kinaxis Inc (KXS.TO) climbed 2 to 4%. Our Stance: The Relative Strength Index (RSI) at 64.86 points …
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