Daily-Wrap

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.

Canadian stocks moved Moderately Higher on Friday

Index Update: The S&P/TSX Composite Index rose 0.41% to close at 25,357.74 on Friday, securing the Toronto exchange a weekly gain of 1.3%, primarily driven by elevated commodity prices that provided strong support to the resource-intensive index. This upward movement on the Canadian markets indicates underlying market optimism. However, it also underscored the cautious sentiment prevalent among both listed entities and investors as they navigated the complexities arising from ongoing tariff discussions and recent macroeconomic data signalling persistent inflationary pressures. Macro Update: Statistics Canada reported 7,400 new jobs in April alongside a modest uptick in the unemployment rate to 6.9%, suggesting consumer spending capacity remains intact despite job losses in manufacturing, pressured by US import tariffs. On the global stage, investor confidence received a boost following President Trump's announcement of a trade accord between the United States and the United Kingdom. This development alleviated some concerns surrounding international trade frictions, providing positive momentum to equity markets across both North America and Asia. Furthermore, U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer indicated "substantial progress" in the recent US-China trade negotiations, raising hopes for a potential de-escalation of the ongoing trade dispute between the two economic powerhouses Top Movers

By: Team Kalkine | May 12, 2025 | Read Time : 10 Mins