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 fell by 0.31% to 24,953.52 on Monday, trimming last week’s 1% advance. Canadian equities faced headwinds from falling oil prices and renewed trade-policy tensions. Energy stocks bore the brunt of the decline, after OPEC+ announced a second consecutive month of accelerated output increase. Macro Update: President Trump’s unexpected 100% tariff on foreign-produced films reignited concerns over broader retaliatory measures that could weigh on global demand for Canadian resource exports. Mixed signals from Beijing regarding U.S. trade talks further dashed hopes for a near-term resolution. The S&P Global Canada Composite PMI fell to 41.7 in April 2024 from 42 in the previous month, marking the fifth consecutive contraction in the country's private sector and the steepest decline since June 2020. Both manufacturing and service sector outputs saw similar declines. On the price front, input cost inflation fell to a three-month low but remained elevated. However, as demand conditions weakened, output charges saw a slight decline, marking the first decrease in over four years. Top Movers and Losers: The biggest gainers of the session on the S&P/TSX Composite were Parkland Fuel Corporation (TSX: PKI), which rose 5.51%. Bird Construction Inc. (TSX: BDT) added 4.93% and G
Index Update: The S&P/TSX Composite Index rose over 0.95% to 25,031.51 on Friday, marking its fourth consecutive weekly gain. The underpinned sentiments were positive because of easing US-China trade tensions and a stronger than expected US jobs report lifted investor sentiments. The rally was driven by Beijing’s signal to resume trade talks, contingent on the US scaling back tariffs, easing concerns over prolonged trade frictions. Macro Update: The Canadian dollar traded at 1.38 per USD, earing its strongest level since October, supported by strong G10 currency momentum, amid softer concerns of a recession domestically and a weak dollar. Canadian GDP grew 0.1% in March, despite declines in key commodities, signaling resilience against US weakness. Politically, the Liberal Party won a fourth consecutive election by a narrow margin, placing Mark Carney as Prime Minister of a minority government. Canadian 10-year yields fell below 3.12%, hitting a near two-week low, as softer domestic and U.S. economic data led investors to price in further easing by North American central banks. Top Movers and Losers: The biggest gainers of the session on the S&P/TSX Composite were Aritzia Inc (TSX: ATZ), which rose 13.75%. TerraVest Industries Inc (TSX: TVK) added 9.47% and Algoma Steel Group
Index Update: The S&P/TSX Composite Index showed a downside of 0.19% to 24,795.55 on Thursday, weighed down by losses in major Materials, Telecoms and Consumer Staples sectors, though gains in tech and energy shares broadly offset the pressure. Macro Update: Canada's manufacturing sector contracted for the third straight month in April 2025, with the S&P Global Canada Manufacturing PMI dropping to a 5-year low of 45.3, down from 46.3 in March. Businesses attributed this significant downturn in production and new orders, largely to tariffs and the uncertainty surrounding US trade policies, which also caused a dramatic five-year high in the decline of new export orders. Meanwhile in the US, the latest GDP, private payrolls and weekly jobless claims data pointed to slowing US economic activity, supporting bets on near-term Federal Reserve rate cuts and limiting the dollar’s rally. Investors now turn their attention to the April jobs report which can give investors more insights on how shifting trade policies are affecting the economy. Top Movers and Losers: The biggest gainers of the session on the S&P/TSX Composite were Ivanhoe Mines Ltd. (TSX: IVN), which rose 9.89%. Baytex Energy Corp (TSX: BTE) added 6.10% and Aecon Group Inc. (TSX: ARE) was
Index Update: The S&P/TSX Composite Index showed a downside of 0.13% to 24,841.68 on Wednesday, as investors absorbed growing signs of slowing economic activity in North America and ongoing trade-policy challenges. Macro Update: Canada’s economy contracted by 0.2% in February, led by a 2.5% drop in mining and oil-and-gas output and a 0.5% decline in construction, underscoring weakening demand across the country’s commodity-driven sectors. Similarly, Wall Street posted notable losses as U.S. GDP unexpectedly declined in the first quarter, reflecting the initial negative impact of tariff threats and rising policy uncertainty under President Trump. Top Movers and Losers: The biggest gainers of the session on the S&P/TSX Composite were New Gold Inc (TSX: NGD), which rose 19.35%, Gildan Activewear Inc. (TSX: GIL) added 7.12% and Badger Infrastructure Solutions Ltd (TSX: BDGI) was up 6.45%. Biggest losers included Ivanhoe Mines Ltd. (TSX: IVN), which fell 5.92%, Vermilion Energy Inc. (TSX: VET) declined 5.45% and International Petroleum Corp (TSX: IPCO) down 5.17%. Our Stance: The index remains well above its 21-period Simple Moving Average (SMA), indicating that the short-term uptrend is still intact. However, the recent pullback may suggest a potential loss of momentum, prompting traders to stay alert for any signs
Index Update: The S&P/TSX Composite Index showed an upside of 0.31% to 24,874.48 on Tuesday, reaching its highest level over the three weeks. This upward momentum reflected investors’ favorable reaction to Liberty Party’s minority win. Market confidence was notably bolstered by Carney’s commitment to push back firmly against U.S. import duties, even in the absence of a parliamentary majority. Macro Update: Canadian 10-year yields have surpassed 3.18% influenced by Liberal’s fiscal outlook and Bank of Canada’s conservative stance. The central bank decided to retain 2.75% policy rate, due to sustained core inflation and the dual risks of U.S. recession or stagnation. The Canadian dollar traded near a six-month zenith at the 1.38 per USD level benefited from a sustained flight from USD assets as G10 currencies continued to be supported by a flight away from US dollar assets. The attention remained on US - China trade negotiations and the Federal Reserve’s policy direction, both are the key influences on financial conditions and industry trends in Canada’s uncertain trade landscape with Auto Industry waiting for potential tariff relief from Washington. Top Movers and Losers: The biggest gainers of the session on the S&P/TSX Composite were Brookfield Business Partners LP (TSX: BBU_u),
Index Update: The S&P/TSX Composite Index showed an upside of 0.37% at 24,798.59 on Monday, reaching its highest level over the three weeks led by gains in technology and financials stocks as investor remain cautiously optimistic as Canada approached its general election, with both major parties advocating pro-growth and trade-friendly platforms. Macro Update: Prime Minister Mark Carney and Conservative leader Pierre Poilievre concluded their campaigns on Sunday, with Liberal Party maintaining a narrow lead in popular support ahead of the final voting. Canadia Wholesale sales declined by 0.3% MoM in March 2025, reversing 0.3% gain in February. The marks the first decline in seven months, driven by decreased activities in five of the major seven subsectors. The yield on the US 10-year Treasury note hovered around 4.2% on Tuesday, depicting its lowest levels in three weeks as investors awaited crucial economic data that could reveal the early impact of President Donald Trump’s new tariffs. Top Movers and Losers: The best performers of the session on the S&P/TSX Composite were Denison Mines Corp (TSX: DML), with 4.64%. Meanwhile, NexGen Energy Ltd. (TSX: NXE) added 4.40% and Aecon Group Inc. (TSX: ARE) was up 3.25%. The worst performers of the session were
Index Update: The S&P/TSX Composite Index ended the week on Friday at 24,710.51 with a slight decline of negative 17.02 points or -0.07% from the last day closing level, as major mining companies came under pressure amid ongoing uncertainty over U.S.–China tariff talks and Canada’s April 28 federal election looming. Macro Update: Retail sales fell 0.4% in February, which highlights the pressure that higher borrowing costs are putting on domestic demand. Meanwhile, traders grappled with conflicting signals on the trade war: reports suggesting China might suspend its 125% tariffs on select U.S. goods were swiftly denied by Beijing, even as President Trump maintained that negotiations were ongoing, keeping investors on edge. Top Movers and Losers: Bullion-linked stocks led the retreat, Agnico Eagle dipped 0.8% after gold prices pulled back sharply despite the miner nearly doubling first-quarter profits on robust output and lower costs, while Wheaton Precious, Barrick Gold and Franco-Nevada slid between 0.6% and 1.8%. Tech shares proved more resilient—Shopify jumped 2.2%, cushioning the broader downturn. Our Stance: Despite the modest pullback, the index remains above its 21-period Simple Moving Average (SMA), indicating that the broader bullish trend is still intact. The index is testing a crucial support level of
Index Update: The benchmark S&P/TSX Composite Index jumped 254.85 points or 1.0 percent to 24,727.53, ending the session at its best closing level since the day U.S. President Donald Trump initially announced his "reciprocal tariff" plan. Macro Update: Data from Statistics Canada said average weekly earnings of non-agricultural workers in Canada rose 5.4% year-on-year to C$1,298.22 in February, following a 5.6% increase in January. Top Movers: Cargojet led the advance with a 15.3% surge after reporting robust quarterly results, while technology leaders Shopify, Constellation Software, Celestica and Open Text each added between 2.5% and 4.3% Our Stance: Despite the rebound, the broader technical outlook remains cautious. While recent gains offer some relief, the broader outlook remains cautious. A sustained move above critical resistance is needed to shift sentiment; until then, a defensive approach is warranted. Commodity Update: The dollar increased Friday after slight losses Thursday, as markets digested uncertainty over U.S. economic policy amid President Trump's shifting trade stances and Fed interference. Gold rose 0.35% to $3,360.55, silver gained 0.07% to $33.53, and copper climbed 0.23% to $9,437.80. Brent crude edged up 0.01% to $66.60 but was set for a weekly drop amid OPEC+ supply concerns and mixed U.S. tariff
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