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 S&P/TSX Composite Index rose 0.80% to close at 25,897.48 on Thursday, its eighth consecutive session of gains and a fresh all-time high, after strength in mining and financials counterbalanced weakness in energy. Macro Update: Canadian manufacturing sales saw a moderate contraction of 1.4% month-over-month in March to CAD 71.9 billion, yet this was less severe than anticipated. Declines were broad-based across most industries, notably in primary metals (-6.5%) and petroleum/coal products (-4.2%), although furniture sales provided a strong positive offset (+11.9%). Regionally, most provinces experienced lower sales, with Ontario (-1.0%) and Quebec (-1.6%) leading the decrease. In April, Canadian housing starts exhibited a significant surge, jumping 30% month-over-month to 278,606 units, considerably exceeding market forecasts. Urban starts drove this growth (+28%), particularly in Montréal (+64%) and Vancouver (+6%) due to increased multi-unit projects, while Toronto saw a notable decline (-25%). Top Movers and Losers: The biggest gainers of the session on the S&P/TSX Composite were Atkinsrealis Group Inc (TSX: ATRL), which rose 10.93%. MDA Ltd (TSX: MDA) added 7.72% and Secure Energy Services Inc. (TSX: SES) was up 6.90%. Biggest losers included Baytex Energy Corp (TSX: BTE), which fell 8.27%. Vermilion Energy Inc. (TSX: VET) declined 4.35%
Index Update: The S&P/TSX Composite Index rose 0.30% to close at 25,692.45 on Wednesday, marking its seventh consecutive gain. This positive close was primarily driven by the decent performance of technology and railway sector giants, which successfully counteracted the negative impact of losses experienced in the mining sector. Easing global trade tensions and softer US inflation boosted sentiment as investors awaited further international trade agreement news. Macro Update: Prime Minister Carney's Liberal government will implement a middle-income tax cut before July 1 to boost affordability and economic growth. However, the government will not present a full annual budget this year, opting instead for an economic update in the fall. US inflation continues trending toward the Fed's 2% goal, as evidenced by April's softer-than-anticipated CPI. Vice Chair, Jefferson has identified new import tariffs as a material downside risk. These tariffs could disrupt the current disinflationary trajectory, potentially inducing a temporary inflationary surge, thereby complicating the Fed's monetary policy objectives. Top Movers and Losers: The biggest gainers of the session on the S&P/TSX Composite were Finning International Inc. (TSX: FTT), which rose 6.62%. Canadian Pacific Kansas City Limited (TSX: CP) added 3.82% and Shopify Inc (TSX: SHOP) was up 3.81%. Biggest losers
Index Update: The S&P/TSX Composite Index rose 0.33% to close at 25,616.86 on Tuesday, marking its highest level in twelve weeks, driven by positive movement in sectors connected to natural resources. The upward trend was further supported by the recently established 90-day accord between the US and China to lower tariffs on each other's goods Macro Update: On May 13, 2025, the US Consumer Price Index (CPI) data for April revealed an annualized inflation rate of 2.3%, a decrease from March's 2.4%, suggesting a deceleration in price increases. Core inflation, excluding food and energy, rose to 2.8% from 2.4%. This unexpected moderation in inflation has fueled expectations of potential Federal Reserve rate cuts later this year. Goldman Sachs has revised its forecast for US GDP growth in Q4 2025, increasing it to 1.0% from a previous estimate of 0.5%. This adjustment reflects a more optimistic outlook amid evolving trade dynamics and economic indicators. Top Movers and Losers: The biggest gainers of the session on the S&P/TSX Composite were Finning International Inc. (TSX: FTT), which rose 13.78%. Aya Gold & Silver Inc (TSX: AYA) added 12.06% and Celestica Inc. (TSX: CLS) was up 9.12%. Biggest losers included Orla Mining Ltd (TSX:
Index Update: The S&P/TSX Composite Index rose 0.69% to close at 25,532.18 on Monday, reaching its highest level in twelve weeks as the 90-day US-China tariff rollback reignited appetite for commodities and risk assets. Most sectors were trending higher on Monday, led primarily by gains in consumer durables, tech and commercial services. Of the few decliners, materials stocks were the lowest, as the price gold pulled back after news of easing trade tensions. Macro Update: Canada’s labour market posted a modest rebound in April 2025, adding 7,400 jobs, surpassing market expectations of a 2,500 gain and partially offsetting the 32,600-contraction recorded in March. The headline growth was underpinned by a robust 31,500 increase in full-time positions, while part-time employment contracted by 24,200, suggesting a shift toward more stable, higher-quality jobs. At the provincial level, job gains were concentrated in Quebec, Alberta, Manitoba, and Newfoundland and Labrador, while Ontario and Nova Scotia experienced declines. Employment levels remained relatively stable across the remaining provinces. US - China trade negotiations in Geneva over the weekend yielded a breakthrough, with Washington agreeing to reduce its punitive tariffs on Chinese goods from 145% to 30%, while Beijing reciprocated by lowering duties on U.S. imports from
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
Index Update: The S&P/TSX Composite Index rose 0.37% to 25,254.06 on Thursday, a one-month high as energy stocks rallied on firmer oil prices and a wave of reassuring corporate results. Global stock markets experienced a further boost following US President Donald Trump's announcement of a broad trade agreement with the UK. This deal igniting optimism about a potential reduction in trade barriers and strengthening investors' willingness to take on risk in equity markets worldwide. Macro Update: Canada's longer-term borrowing costs have risen, pushing the 10-year government bond yield above 3.22%, a two-week peak. This increase stems from a combination of domestic factors, including the Bank of Canada's cautious approach to interest rate cuts due to high household debt and the significant role of leveraged hedge funds in bond auctions. International pressures also contribute, with the U.S. Federal Reserve's decision to maintain rates and its warnings about persistent inflation bolstering U.S. Treasury yields. Furthermore, ongoing trade tensions between the U.S. and Canada, only partially mitigated by other trade agreements, have increased the risk premium sought by investors. The Canadian dollar has weakened past 1.39 per US dollar, retreating from its strongest levels since early May, as a resurgent U.S. dollar exerts
Index Update: The S&P/TSX Composite Index edged 0.75% to 25,161.18 on Wednesday, a one-month high. Markets were buoyed by a de-escalation in global trade tensions and a more accommodative stance from the US Federal Reserve, which signaled a potential pause or slowdown in rate hikes. This supportive policy backdrop helped fuel investor optimism, particularly benefiting interest rate-sensitive sectors like financial and growth-oriented industries such as technology. Macro Update: Investor sentiment received an additional boost following Prime Minister Mark Carney’s first meeting with U.S. President Donald Trump at the White House on Tuesday, which both leaders described as constructive, though no concrete trade shifts were announced. Hopes of de-escalation were reinforced by plans for U.S. and Chinese officials to meet in Switzerland this weekend—an encouraging sign for Canada’s trade-exposed economy. Meanwhile, the Fed held rates steady and maintained its balance sheet runoff, though it flagged rising economic uncertainty amid ongoing trade frictions. Top Movers and Losers: The biggest gainers of the session on the S&P/TSX Composite were Premium Brands Holdings Corporation (TSX: PBH), which rose 9.45%. Spin Master Corp (TSX: TOY) added 6.71% and Stella-Jones Inc. (TSX: SJ) was up 4.73%. Biggest losers included NovaGold Resources Inc (TSX: NG), which fell
Index Update: The S&P/TSX Composite Index edged 0.08% to 24,974.72 on Tuesday, as strong gains in the energy and materials sectors were offset by renewed trade-war jitters and defensive positioning ahead of key central-bank meetings. Meanwhile, diplomatic strains added to market unease, following a pointed exchange between Trump and Prime Minister Mark Carney, when Carney declared “Canada is not for sale.” Macro Update: Canada’s economic momentum softened in early 2025, as the Ivey PMI slipped into contraction territory at 47.9 in April, signaling a contraction in economic activity for the first time since January. The employment index also declined to 48 from 48.2, pointing to a reduction in workforce levels. Meanwhile, exports edged down 0.2% in March, hitting their lowest level since November, largely due to new U.S. tariffs. Exports to the US fell by 6.6%, but this was nearly offset by a 24.8% rebound in shipments to non-US markets. Canada’s trade deficit narrowed to CAD 0.51 bn as imports fell more sharply, partly due to reciprocal tariffs and consumer boycotts of American goods. Top Movers and Losers: The biggest gainers of the session on the S&P/TSX Composite were Centerra Gold Inc (TSX: CG), which rose 15.68%. Ero Copper Corp
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