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: Following the rally seen in the previous session, Canadian stocks turned in another strong performance during trading on Wednesday. The S&P/TSX Composite Index gave pull back off early highs but still ended the day up 166.70 points or 0.7 percent at 24,472.68. Macro Update: The U.S president suggested he's willing to take a less confrontational approach to trade talks with China, predicting the current 145 percent tariff on Chinese imports will "come down substantially. Top Movers: Technology stocks led the advance—Shopify surged 6.6%, Celestica jumped 7.1%, and Constellation Software added 2.7%. Financial heavyweights Brookfield (2.6%), Manulife Financial (2.3%), and Sun Life Financial (1.6%) also outperformed. Our Stance: Despite the rebound, the broader technical outlook remains cautious. Key support is seen near 23,700, which could act as a short-term floor. A clear break below this level may open the door to further declines, with additional support at 23,400 and 23,000. Until the index regains key technical levels, caution is advised. Commodity Update: The dollar paused on Thursday after rebounding sharply, as President Trump stepped back from threats to fire Fed Chair Jerome Powell and signaled a softer China tariff stance. Gold jumped 1.79% to $3,352.10, silver dipped 0.38% to
Index Update: The benchmark S&P/TSX Composite Index surged early in the session and remained firmly positive throughout the day before closing up 297.12 points or 1.2 percent at 24,305.98. Macro Update: Statistics Canada released a report showing prices of products manufactured in Canada rose 0.5 percent month over month in March and surged 4.7 percent year-over-year. Meanwhile, prices of raw materials purchased by manufacturers operating in Canada declined 1.0 percent in March but still jumped by 3.9 percent year-over-year. Top Movers: Energy heavyweights Canadian Natural, Suncor, Imperial Oil, and Cenovus led the advance, climbing between 2.3% and 5% amid firmer oil prices. Financial and tech giants—including RBC, TD Bank, Shopify, and Brookfield—also supported the rally, gaining between 1.7% and 4.9%. Our Stance: Despite the rebound, the index remains below its 21-period Simple Moving Average (SMA), reflecting ongoing downward pressure. However, the broader technical outlook remains cautious. Key support is seen near 23,700, which could act as a short-term floor. Commodity Update: The U.S. dollar surged then stabilized Wednesday as President Trump eased investor fears by backing away from firing Fed Chair Jerome Powell. This reassurance, along with optimism over trade deals, lifted market sentiment. Gold dropped 1.68% to $3,362.25, silver
Index Update: The S&P/TSX Composite Index closed in red on Monday at 24,008.86 with a broad-based decline of negative 183.95 points or (-0.76%) from the last trading day closing level, mainly driven by tariff uncertainties, pre-election polls showing a six-point lead over Conservatives, renewed Fed‑independence concerns from President Trump’s criticism. Macro Update: Macroeconomic landscape is facing strain from escalating trade tensions, with OECD forecasts stating slowdown in Canada’s GDP growth to 0.7% in 2025 due to U.S. imposed tariffs and rising inflation pressures beyond the BoC’s comfort zone. The growing tension between U.S. – China and U.S. – Iran have dim growth prospects with a upside pressure on inflation expectations. The April 28, 2025, vote adds a layer of policy uncertainty, especially around trade measures, fiscal transfers and stimulus measures. Key event to watch out is the upcoming Canadian Federal Election scheduled for April 28, 2025, Bank of Canada Rate Decision on June 4, 2025, and U.S. Federal Reserve FOMC Meeting on May 6 – 7, 2025. Top Movers and losers: Mining and Gold sector contributed to the uptick with the energy sector experiencing a fall mainly due to a sharp drop in oil prices. Stocks which have shown a
Index Update: After moving higher early in the session, the S&P/TSX Composite Index pulled back into negative territory before rebounding, going into the close to end the day up 38.86 points or 0.2 percent at 24,106.79. Macro Update: The Bank of Canada said it decided to maintain its target for the overnight rate at 2.75 percent, with the Bank Rate at 3 percent and the deposit rate at 2.70 percent. The accompanying statement noted increased uncertainty due to the major shift in direction of U.S. trade policy and the unpredictability of tariffs makes it unusually challenging to project GDP growth and inflation in Canada and globally. Top Movers and losers: Heavyweight financials, technology, and rail sectors led the decline, with notable losses in shares of Shopify (-0.7%), Brookfield (-1.6%), Canadian Pacific Railway (1.7%), BMO (-0.6%), and Manulife (-2.1%). In contrast, commodity producers, especially major mining and energy stocks posted decent gains. Our Stance: The index remains below its 21-period Simple Moving Average (SMA), signaling ongoing downward momentum and persistent selling pressure. From a technical standpoint, Immediate support is seen near the 23,700 mark a key horizontal level that could act as a short-term floor, allowing for consolidation or a relief
Index Update: The S&P/TSX Composite Index rose 0.8% to close at 24,067.93 on Tuesday, outperforming its U.S. counterparts as investors embraced unexpectedly cooler inflation. Macro Update: Data from Statistics Canada showed the annual inflation rate in Canada dropped to 2.3% in March from an eight-month high of 2.6% in the previous month. The consumer price index increased 0.3% in March. In other economic news, Canadian housing starts dropped 3.3% month-over-month in March, data from Canada Mortgage and Housing Corporation said. Top Movers: Credit-sensitive tech giants like Shopify and Celestica led the gains with increases of 2.2% and 2.8%, respectively, and financial institutions such as RBC, TD Bank, Brookfield, BMO, and Scotiabank advanced between 0.5% and 1.1%. Major mining equities Agnico Eagle Mines and Wheaton Precious Metals added 2.5% and 1.9%. Our Stance: Despite the upbeat session, the index remains below its 21-period Simple Moving Average (SMA), reflecting continued downward momentum and underlying selling pressure. From a technical standpoint, the broader outlook remains cautious. The index faces immediate support at the 23,500 level, a key horizontal zone that could serve as a near-term floor and foster consolidation or a relief rally. Commodity Update: The dollar saw a slight rebound Wednesday as
Index Update: The S&P/TSX Composite Index climbed 1.2% to close at 23,867 on Monday, lifted by broad-based gains in the financial sector. Investor sentiment improved after President Trump announced exemptions for select tech products—including smartphones, laptops, and other electronics—from the newly imposed 145% China-specific and 10% baseline tariffs. Macro Update: Data from Statistics Canada said new motor vehicles sales in Canada increased to 125,402 Units in February from 121,258 Units in January of 2025. A separate data from Statistics Canada showed wholesale sales in Canada increased 0.3% month-over-month to $85.7 billion in February. Top Movers: MAG Silver, First Majestic Silver, Cogeco Communications, B2Gold Corp, Empire Company, Torex Gold Resources, Premium Brands Holdings, Novagold, Lundin Mining, CT Real Estate, Great-West Lifeco and TerraVest Industries are up 2 to 4%. Our Stance: The broader trend remains cautious. Immediate support is seen at 23,500, a key horizontal level that may provide a near-term floor and spark consolidation or a relief rally. However, a decisive break below this threshold could open the door to a further downside, with additional support levels at 23,000 and 22,800. Commodity Update: The dollar remained steady on Tuesday but stayed close to recent lows against the euro and yen
Index Update: The benchmark S&P/TSX Composite Index moved higher early in the session and climbed even more firmly into positive territory as the day progressed before closing up 572.93 points or 2.5 percent at 23,587.80. Macro Update: On the U.S. economic front, preliminary data released by the University of Michigan showed a continued slump by U.S. consumer sentiment in the month of April. A separate report released by the Labor Department showed an unexpected decrease by producer prices in the month of March Top Movers: Agnico Eagle, Wheaton Precious Metals, Barrick Gold, and Franco-Nevada, which surged between 4.7% and 6.4%, tracking record-high gold prices. Our Stance: Technically, the broader trend remains cautious. Immediate support lies at 23,200—a key horizontal level that may act as a near-term floor, potentially prompting consolidation or a technical bounce. A decisive break below this level, however, could trigger further downside, with subsequent support levels at 22,900 and 22,600. Commodity Update: The U.S. dollar weakened Monday, hovering near a three-year low after a volatile week triggered by President Trump’s tariff plans, which rattled global markets. Investor confidence in the dollar wavered as fears of a trade war grew. Gold reached a record high at $3,248.90, up
Index Update: Canadian stocks moved sharply lower during trading on Thursday, giving back ground following the spike seen over the course of Wednesday's session. After soaring 1,220.13 points or 5.4 percent to 23,727.03 on Wednesday, the benchmark S&P/TSX Composite Index plunged 712.16 points or 3.0 percent to 23,014.87. Macro Update: The U.S Labor Department report said the consumer price index edged down by 0.1 percent in March after rising by 0.2 percent in February. Economists had expected consumer prices to inch up by 0.1 percent. Excluding food and energy prices, the core consumer price index crept up by 0.1 in March after rising by 0.2 percent in February. Core prices were expected to rise by 0.3 percent. The report also said the annual rate of consumer price growth slowed to 2.4 in March from 2.8 percent in February. Economists had expected the pace of price growth to slow to 2.6 percent. Top Losers: Worries over global growth drove benchmark oil futures to slump toward four-year lows, pressuring Canadian Natural, Suncor, Imperial Oil, and Cenovus to plunge between 6.7% and 8.4%. Tech and consumer discretionary were also pressured by the pessimistic momentum, driving e-commerce mega-cap Shopify to sink 8.4%. Our Stance:
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