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: Canada equities were higher at the close on Monday as gains in the IT, Industrials and REITs sector led shares higher. The benchmark S&P/TSX Composite added 0.65% to hit a new all-time high. Macro Update: The EU announced it will suspend the implementation of its trade countermeasures against the U.S. until early August to allow more time for a negotiated settlement to the issue. The EU's retaliatory tariff on $25 billion worth of American goods for the 25 percent import duty that the U.S. imposed on steel and aluminum imports from Europe was set to come into force Monday. Top Movers: Thomson Reuters Corp rose 7.74% to trade at 293.53 at the close. Energy Fuels Inc. added 6.08% to end at 9.59 and Shopify Inc was up 4.26% to 159.95 in late trade. Our Stance: From a technical perspective, the index is currently testing a critical support zone near 26,900. Holding above this level is crucial for maintaining upward momentum. A decisive break below 26,900 could signal a potential retracement, with the next key support levels seen between 26,600 and 26,400 on the daily chart. Sustaining these levels will be essential for the bullish trend to remain intact
Index Update: Canadian stocks turned lower on Friday as US President Donald Trump suddenly intensified his tariff pressure on Canada. The benchmark S&P/TSX Composite Index moved lower and after swinging until post noon, managed to settle at 27,023.25, down by 59.05 (or 0.22 %). Macro Update: Canadian PM Mark Carney has stated in response that Canada would continue to defend workers and businesses even as it continues negotiations with the US ahead of the August 1 deadline. Blaming Canada for failing to check illicit drug entry via Canadian borders into the US, Trump announced plans to impose a 35% levy on imports from Canada starting next month. It is an increase from the current 25% imposed in March. He also added that any counter-tariff by Canada will be met by re-imposing the same number on Canada over and top of the 35%. Jobs data released by Statistics Canada today revealed that the unemployment rate eased to 6.9% in June from 7% in the previous month. Total employment grew by 83,100 jobs. Top Movers: Kelt Exploration Ltd (3.93%), Advantage Oil & Gas Ltd (2.41%), Aya Gold and Silver Inc (9.25%), and First Majestic Silver Corp (7.36%) were the prominent gainers. Our
Index Update: After opening near yesterday's close, the benchmark S&P/TSX Composite Index entered positive territory and climbed to an intraday high of 27,120.00 post noon. Holding the momentum, the index settled at 27,082.30, up by 109.98 (or 0.41 %). Macro Update: Trump extended the "reciprocal tariff" suspension period from July 9 to August 1. Already the UK, China, and Vietnam are done with trade agreements with the US. India and the EU are close on the heels. The Canadian government and companies are hunting for fresh markets outside of the US and have so far found decent success. Thee Canadian foreign minister is pushing to seal free-trade pacts with Southeast Asian countries. Exports to non-US nations rose 5.7% in May, a new high. Now the UK, Singapore, and Italy are importing more from Canada. Top Movers: Air Canada (3.74%), Bombardier Inc (3.04%), Brookfield Corporation (2.03%), and Rogers Communication (2.09%) were the prominent gainers. Our Stance: From a technical standpoint, the index is currently testing a key support zone near 26,800. Holding above this level is crucial to sustain the upward trend; however, a decisive break below it could trigger a deeper pullback, with the next notable support levels at 26,500
Index Update: After opening a little higher than the previous close, the benchmark S&P/TSX Composite Index today struggled in mid-morning trading. Later, the index gained momentum to reach an intraday high of 27,018.54 after noon. Then, after swinging a little, the index finally settled at 26,972.32, up by 68.75 (or 0.26 %). Macro Update: The US has extended the reciprocal tariff suspension period from July 9 to August 1. With the UK, China, and Vietnam done with trade agreements with the US, India and the EU are close on the heels. US President Donald Trump's announcement of an additional 10% tariff on the 11-member BRICS nations as well as his plans to impose 50% and 200% levies on Copper and pharmaceutical imports to the US, respectively, has created jitters globally. The Canadian PM is pushing for trade deals with nations other than the US to cut short over-reliance on the US for its exports. Top Movers: Endeavour Silver Corp (9.06%), First Majestic Silver Corp (5.21%), Fortuna Mines (5.02%), and H&R Real Estate (4.17%) were the prominent gainers. Our Stance: From a technical standpoint, the index is currently testing a key support zone near 26,700. Holding above this level is crucial
Index Update: Minutes after opening higher than yesterday's close, the benchmark S&P/TSX Composite Index hit an intra-day high of 27,070.18. The index then turned lower, continued to slide and finally settled at 26,903.57, down by 116.71 (or 0.43 %). Macro Update: PM Mark Carney stated last month that Canada and the US are negotiating to close a deal by July 21. Keeping investors on the hook, the government has not divulged any further details. In the absence of a good trade deal, Trump's tariffs could send Canada into a recession. On the data front, the Ivey Purchasing Managers Index, which measures the month-to-month variation in economic activity revealed an increase from 48.9 in May to 53.3 in June, above market expectations of 49.1. This indicates economic expansion even though hiring showed a slight contraction. Top Movers: Baytex Energy (9.72%), Vermillion Energy (4.86%), Cenovus Energy (4.06%), and BCE Inc (2.73%) were the prominent gainers. Our Stance: From a technical standpoint, focus now turns to key support levels. The index is currently trading above the near-term support zone at 26,700, a crucial level for sustaining bullish momentum. If this support holds, it could trigger renewed buying interest and pave the way for
Index Update: Canadian stocks slipped on Monday amid lingering global trade uncertainty and ongoing US-Canada tariff negotiations. The benchmark S&P/TSX Composite Index pushed its way to reach an intraday high of 27,100.16 within an hour after opening. However, unable to hold on to that level, it turned downwards to settle marginally lower at 27,020.28, down by 15.88 (or 0.06 %). Macro Update: Expectations of US Fed advancing their rate cut before September are now out of discussion after last week's US jobs data revealed decent numbers. Canada is trying to wean itself off from reliance on the US where it sends around 75% of its exports. To sidestep US, Canada is expanding its non-US business relations. Top Movers: Sandstorm Gold (6.16%), Ngex Minerals (5.67%), BCE Inc (3.18%), and Telus Corp (1.68%) were the prominent gainers. Our Stance: From a technical standpoint, focus now turns to key support levels. The index is currently trading above the near-term support zone at 26,700, a crucial level for sustaining bullish momentum. If this support holds, it could trigger renewed buying interest and pave the way for a potential rebound toward recent highs. However, a clear break below 26,700 may increase selling pressure and signal
Index Update: The Canadian stock market ended flat on Friday, amid uncertainty on US-Canada trade deal even as July 9 deadline set by the US President for tariff agreement is fast approaching. The benchmark S&P/TSX Composite Index opened slightly down and dropped further but recovered to reach a new record high at 27,076.75 past noon. The index eventually ended the session with a small gain of 1.90 points or 0.01% at 27,036.16. The benchmark gained about 1.3% in the week. Macro Update: Data released by S&P Global revealed that the Canada Composite PMI fell to 44.0 in June from 45.5 in May, indicating seventh consecutive monthly contraction in private sector businesses. Both the manufacturing (45.6 versus 46.1) and services (44.3 versus 45.6) sectors posted similar levels of contraction. Top Movers: H&R Real Estate (17.22%), Allied Properties (3.81%), Premium Brands Holdings (1.81%), and Cogeco Communications (1.17%) were the prominent gainers. Our Stance: At present, the index is testing a critical support level near 26,700. Sustaining this level will be crucial for preserving the prevailing upward momentum. If the index holds above this threshold, it could provide a solid foundation for a renewed rally. However, a decisive break below this support zone
Index Update: After opening higher than yesterday's record close, the benchmark S&P/TSX Composite Index today moved upwards to reach an intraday high of 27,039.30 less than an hour past noon. Continuing the momentum, it closed at a new high of 27,034.26, up by 164.60 (or 0.61%). Macro Update: Data provided by Statistics Canada revealed that Canada's trade deficits narrowed in May. Imports declined by 1.6%, while exports to non-US countries increased by 5.7%. Exports to the US fell for the fourth straight month, recording a drop of 0.9%, due to the trade war. US Federal Reserve's Chair Jerome Powell has indicated a "wait-and-watch" approach with interest rate cuts. Investors feel that today's US jobs data could take the pressure off of Fed from moving their calendar up, before September. Top Movers: Canadian tech leaders Shopify and Constellation Software jumped 2.1% and 1.1%, respectively, while financial stalwarts Brookfield Asset Management and Bank of Montreal added 2.7% and 1.1%. Those advances more than offset declines in energy and base-metal miners as global metals prices softened. Our Stance: The index is currently testing a key support level near 26,700. Holding above this threshold is essential to preserve the current bullish trend, while a
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