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 saw a notable advance early in the session and remained firmly positive throughout the day. The index climbed 168.91 points or 0.7 percent to a new record closing high of 24,471.71. Macro Update: Data from Statistics Canada showed that employment in Canada rose by 46,700 jobs in September, the most in five months and well above the market consensus of a net increase of 27,000 jobs. Meanwhile, data from the U.S. Labor Department showed the annual rate of growth by producer prices slowed to 1.8 percent in September from an upwardly revised 1.9 percent in August. Top Movers: Celestica Inc (CLS.TO), up nearly 4%, is the top gainer in the Information Technology Capped Index, which is up …
Image Souce: Krish Capital Pty Ltd Index Update: The Canadian market climbed to a new record high on Thursday, lifted by gains in energy and materials sectors. The benchmark S&P/TSX Composite Index, which dropped to 24,134.87 after opening with a negative gap of nearly 50 points at 24,176.40, climbed to a new high at 24,315.49 before settling at 24,302.26 with a gain of 77.36 points or 0.32%. Macro Update: Income inequality increased in the second quarter of 2024 as the gap in the share of disposable income between households in the top 40% and the bottom 40% of the income distribution reached 47.0 percentage points, the largest gap ever recorded. Persistently high interest rates over the course of the 12 months ending in the second quarter of 2024 had varying impacts on household finances, depending on level of income. While …
Index Update: Weak crude oil and gold prices weighed on energy and materials shares, contributing to the market’s weakness. The benchmark S&P/TSX Composite Index ended down 30.20 points or 0.13% at 24,072.51. The index touched a low of 23,969.27 and a high of 24,083.13 in the session. Macro Update: Data from Statistics Canada showed that Canada's trade deficit widened to C$ 1.10 billion in August 2024 from a revised C$ 0.29 billion gap in the previous month and exceeding market expectations of a C$ 0.5 billion deficit. This was the sixth consecutive monthly shortfall and the largest since May. Exports dropped by 1% in August, while imports inched up 0.3%. Top Movers: Materials shares Teck Resources (TECK.B.TO), Hudbay Minerals (HBM.TO), Methanex Corp (MX.TO), Ivanhoe Mines (IVN.TO), First Quantum Minerals (FM.TO), …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index ended down 60.12 points or 0.25% at 24,102.71 after scaling a low of 23,988.17 and a high of 24,173.06 intraday. Macro Update: After Friday's upbeat jobs data from the U.S, traders now expect only a quarter-point cut in interest rates at the Federal Reserve's next policy announcement on Nov. 7, with a small chance that the policy rate stays unchanged. Top Movers: Imperial Oil (IMO.TO), Athabasca Oil Corp (ATH.TO), International Petroleum Corp (IPCO.TO), Parex Resources (PXT.TO), Whitecap Resources (WCP.TO), Advantage Oil & Gas (AAV.TO) and Baytex Energy (BTE.TO) gained 2 to 3%. Our Stance: From a technical perspective, the index remains positioned above the 21-period Simple Moving Average (SMA), indicating a prevailing uptrend sentiment in the short term. The Relative Strength …
Image Souce: Krish Capital Pty Ltd Index Update: The benchmark S&P/TSX Composite Index climbed to a new high of 24,179.28 and settled at 24,162.83, gaining 194.33 points or 0.81%. The index gained about 0.45% in the week. Macro Update: Data from the U.S. Labor Department said non-farm payroll employment jumped by 254,000 jobs in September after climbing by an upwardly revised 159,000 jobs in August. Economists had expected employment to rise by 140,000 jobs compared to the addition of 142,000 jobs originally reported for the previous month. Top Movers: Tamarack Valley Energy (TVE.TO) ended 4.5% up. Cenovus Energy (CVE.TO), Arc Resources (ARX.TO), Tourmaline Oil Corp (TOU.TO), Mattr Corp (MATR.TO) and Parex Resources (PXT.TO) gained 2 to 2.7%. Our Stance: Currently, the index is testing a crucial support level around 23,450. …
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