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 benchmark S&P/TSX Composite Index, which remained in negative territory right through the session, closed down 121.09 points or 0.47% at 25,504.33. Macro Update: Investors looking ahead to the Bank of Canada's interest rate decision and U.S. consumer price inflation data, due on Wednesday. The Canadian central bank is widely expected to cut interest rate by 50 basis points. Top Movers: SSR Mining (SSRM.TO) gained nearly 6%. Bausch + Lomb Corporation (BLCO.TO), TerraVest Industries (TVK.TO), Docebo Inc (DCBO.TO), Sprott Inc (SII.TO), Tecsys Inc (TCS.TO) and Dollarama Inc (DOL.TO) gained 1.5 to 3%. Our Stance: As traders monitor the situation, key technical levels are in focus. Immediate support for the index is at 25,200. If the index can hold above this level, a potential rebound may be in the cards. However, a breach of this support could trigger a deeper pullback, with support zones identified at 25,000 and 24,900. Given these mixed signals from both the broader market and individual sectors, market participants may adopt a cautious stance moving forward, balancing optimism with the awareness of potential risk. Commodity Update: The U.S. dollar reached a two-week high against the yen on Wednesday, driven
Image Souce: Krish Capital Pty Ltd Index Update: The Canadian market hit a new record high in early trades on Monday, but soon slipped and fell into negative territory and stayed weak right till the end of the session. The benchmark S&P/TSX Composite Index, which posted a new high at 25,843.20 early on in the session, closed down 66.38 points or 0.26% at 25,625.42. Macro Update: Reports on the U.S consumer and producer price inflation, which are due to be released on Wednesday and Thursday, respectively, could impact the outlook for interest rates. While the Federal Reserve is widely expected to lower rates by another 25 basis points next week, there is some uncertainty about whether the central bank will continue cutting rates early next year. Top Movers: Ssr Mining Inc (SSRM.TO), up 12.1%, was the top gainer in the Materials Capped Index. Fortuna Silver Mines (FVI.TO), Silvercrest Metals (SIL.TO), Orla Mining (OLA.TO), First Majestic Silver Corp (AG.TO), Torex Gold Resources (TXG.TO), Pan American Silver Corp (PAAS.TO), Eldorado Gold (ELD.TO), Ero Copper (ERO.TO), Hudbay Minerals (HBM.TO), Capstone Mining (CS.TO), Teck Resources (TECK.B.TO) and MAG Silver Corp (MAG.TO) gained 4 to 8%. Our Stance: Key technical levels are in focus, with
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index, which hit a new record high at 25,826.98, closed up 11.76 points or 0.05% at 25,691.80. The index gained 0.17% in the week. Macro Update: Data from Statistics Canada said employment in Canada rose by 51,000 in November of 2024, the most in seven months, extending the slight change of 14,500 from the previous month and well above the market consensus of 25,000. Meanwhile, the unemployment rate in Canada rose to 6.8% in November, from 6.5% in the previous month. The unemployment rate was expected to come in at 6.6%. Top Movers: Technology stock Bitfarms (BITF.TO) soared nearly 10%. Shopify Inc (SHOP.TO), Sangoma Technologies (STC.TO), Enghouse Systems (ENGH.TO), Celestica Inc (CLS.TO), Coveo Solutions (CVO.TO), Descartes Systems Group (DSG.TO) and Lightspeed Commerce (LSPD.TO) gained 2 to 5%. Our Stance: The index has solid support around the 25,000 mark. Maintaining above this level is critical for sustaining the bullish momentum. If the index falls below this level, it could face a retracement, with possible support found in the 25,200 to 24,900 range on the weekly chart. Keeping above these support zones will be essential for maintaining investor sentiment and
Image Souce: Krish Capital Pty Ltd Index Update: The Canadian market hit new intraday and closing highs on Thursday. The benchmark S&P/TSX Composite Index, which posted a new high 25,760.15 around mid afternoon, gave up some gains, and settled at 25,680.04, up 38.86 points or 0.15% from Wednesday's close. Macro Update: Economists currently expect the U.S employment to jump by 200,000 jobs in November after inching up by 12,000 jobs in October, while the unemployment rate is expected to tick up to 4.2 percent from 4.1 percent. The jobs data could impact the outlook for interest rates ahead of the Federal Reserve's next monetary policy meeting later this month. Top Movers: Capital Power Corporation (CPX.TO) climbed 6%. First Quantum Minerals (FM.TO) rallied 5.2%. Cineplex (CGX.TO) gained nearly 4.5%. Bombardier Inc (BBD.B.TO), Loblaw Companies (L.TO), Celestica Inc (CLS.TO), Cameco Corporation (CCO.TO), George Weston (WN.TO), iA Financial Corporation (IAG.TO) and Hut 8 Corp (HUT.TO) closed up 2 to 3.5%. Our Stance: The index is currently testing a critical support level at 25,200. Holding above this level is crucial for sustaining the upward momentum. A breakdown below this support could signal a potential pullback, with additional support levels identified between 25,200 and 24,800
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index, which posted a new intraday high at 25,743.53 in early trades, dropped to a low of 25,573.61 and finally ended the session at 25,641.18, up 5.45 points or 0.02%. Macro Update: Data from S&P Global showed that the S&P Global Canada Composite PMI rose to 51.5 in November 2024, up from 50.7 in October, marking the fastest private sector growth since May 2022 and a second consecutive month of expansion. The S&P Global Canada Services PMI rose to 51.2 in November 2024, the highest since April 2023, up from 50.4 in the prior month. Although the services sector posted a second month of growth, the expansion remained modest overall with new business largely unchanged since October. Top Movers: Hut 8 Corp (HUT.TO) climbed nearly 8%. Spin Master Corp (TOY.TO), MDA Space (MDA.TO), Descartes Systems Group (DSG.TO), Winpak (WPK.TO) and Guardian Capital Group (GCG.TO) gained 3 to 5%. Our Stance: Currently, the index is testing a critical support level of around 25,200. Maintaining this support is vital for keeping the upward momentum intact. A drop below this level could trigger a potential pullback, with key support levels on
Index Update: The benchmark S&P/TSX Composite Index, which climbed more than 100 points to 25,693.68 at the start but dropped to 25,578.72 soon thereafter, ended the day's session at 25,635.73 with a gain of 45.40 points or 0.18%. Macro Update: The U.S The Labor Department said job openings climbed to 7.744 million in October from a downwardly revised 7.372 million in September. Top Movers: Celestica (CLS.TO), Alamos Gold (AGI.TO), Propel Holdings (PRL.TO), Agnico Eagle Mines (AEM.TO), MDA Space (MDA.TO), Bombardier Inc (BBD.B.TO), Premium Brands Holdings (PBH.TO), Jamieson Wellness (JWEL.TO) and North West Company (NWC.TO) closed higher by 3 to 5.4%. Our Stance: Traders closely monitor key technical levels, particularly the immediate support at 24,900. If the index manages to stay above this level, it could pave the way for a potential rebound. However, a break below 24,900 may trigger a deeper correction, with further support zones at 25,000 and 24,600. Commodity Update: The U.S. dollar rebounded from a three-week low against the yen on Wednesday, maintaining strength against other major currencies as traders weighed the possibility of a Federal Reserve interest rate cut this month. Market participants are awaiting Friday's payroll data for more clarity on the rates outlook, with
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index closed down 57.67 points or 0.22% at 25,590.33, after scaling a low of 25,492.57 and a high of 25,706.50 intraday. Macro Update: On the economic front, the S&P Global Canada Manufacturing PMI improved to 52.0 in November 2024, up from 51.1 in October, marking the strongest growth in factory activity since February 2023 and the third consecutive month of expansion. Top Movers: Methanex Corporation (MX.TO), Nutrien (NTR.TO), Dayforce (DAY.TO), BRP Inc (DOO.TO), Linamar Corporation (LNR.TO), Canadian Western Bank (CWB.TO), Loblaw (L.TO), Alimentation Couche-Tard (ATD.TO), Thomson Reuters (TRI.TO), Constellation Software (CSU.TO), Gildan Activewear (GIL.TO) and Fairfax Financial Holdings (FFH.TO) closed up 1 to 3.2%. Our Stance: Key technical levels are in focus, with immediate support at 24,900. Holding above this level could pave the way for a rebound, while a breach could signal a deeper correction, with potential support zones at 25,000 and 24,600. As we move forward, market participants will likely be cautious, balancing optimism with the need for caution given the mixed signals in both the broader market and individual sectors. Commodity Update: The dollar strengthened on Tuesday amid political unrest in France, which pressured the
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index climbed to 25,694.45 before settling at 25,648.00, with a gain of 104.48 points or 0.41%. Macro Update: Data from Statistics Canada showed the Canadian GDP expanded by 0.3% from the earlier quarter in the three months to September of 2024, slowing from 0.5% expansions in the first two quarters of the year. Top Movers: Atco Ltd. (ACO.Y.TO) shares rallied 6.7% and Telesat Corporation (TSAT.TO) climbed 6%. Cogeco Communications (CCA.TO) closed up 4.7%, while Quebecor (QBR.A.TO) and Hut 8 Corp (HUT.TO) gained 3.8% and 3.3%, respectively. Our Stance: Currently, the index is testing a critical support level of around 24,850. Maintaining this level is essential for sustaining upward momentum; a drop below could lead to a pullback, with important support thresholds identified at 25,000 and 24,600. For the index to continue its upward trajectory, it’s crucial to stay above these key levels, as they will serve as indicators for future performance. Commodity Update: Currencies of BRICS nations weakened on Monday, while the U.S. dollar strengthened after President-elect Donald Trump threatened 100% tariffs on the bloc if it moves away from the greenback. This follows Trump's call for BRICS
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