RY 157.905 -2.654% SHOP 106.93 -7.7235% TD 81.31 -1.6094% ENB 61.56 -3.6167% BN 66.26 -6.584% TRI 238.37 -3.7977% CNQ 38.78 -7.7765% CP 100.22 1.0079% CNR 137.95 -0.3035% BMO 126.54 -6.4814% BNS 66.57 -2.3614% CSU 4323.9849 -4.3277% CM 80.21 -3.408% MFC 39.3 -8.9856% ATD 70.67 -3.2183% NGT 62.76 -7.8279% TRP 65.19 -5.0539% SU 47.03 -9.261% WCN 270.4 -3.9534% L 204.81 -2.2667%
Image Source : Krish Capital Pty Ltd
Index Update: After ending yesterday's volatile session mostly higher, Canadian stocks saw further upside over the course of the trading day on Wednesday. The benchmark S&P/TSX Composite Index moved to the downside early in the session but showed a significant turnaround to end the day up 273.90 points or 1.1 percent at 25,307.18.
Macro Update: The yield on the Canadian 10-year government bond fell past 2.95%, nearing the two-year low of 2.83% seen in early March, as weak economic data and escalating trade tensions heightened expectations of further monetary easing.
Top Movers: The tech sector enjoyed a respite, with Shopify (+3.2%), Constellation Software (+3%), CGI (+1.3%), and Celestica (+4.3%) posting strong gains, while financial heavyweights such as RBC, TD Bank, Brookfield, BMO, and Scotiabank added around 1% each.
Our Stance: Currently, the index is testing a key support level of around 25,000. Holding above this threshold is crucial to sustaining upward momentum, while a drop below could trigger a pullback toward support zones between 24,800 and 24,500. Maintaining these levels will be vital for continued growth.
Commodity Update: The dollar weakened broadly on Thursday, and the euro gained strength after President Donald Trump announced aggressive tariffs, including a 10% baseline on all U.S. imports, effective April 9, targeting around 60 countries. This move raised concerns about a global trade war, potentially reducing demand for crude oil. In commodities, gold rose 0.05% to $3,167.55, silver fell 2.22% to $33.88, and copper decreased 1.33% to $9,565.50. Brent oil dropped 2.63% to $72.98 per barrel, reflecting fears of economic slowdown due to escalating trade tensions. The market reacted sharply to the unexpected trade policy shift.
Technical Update: On Wednesday, the S&P/TSX Composite Index climbed 273.90 points, closing at 25,307.18, marking a 1.09% increase. This rise reflects sustained investor confidence, particularly in the technology sector, which advanced by 2.50%. From a technical perspective, the index remains above its 21-period Simple Moving Average (SMA), reinforcing a bullish trend. The Relative Strength Index (RSI) sits at 56.03, indicating a healthy market with room for further gains. Currently, the index is testing a key support level of around 25,000. Holding above this threshold is crucial to sustaining upward momentum, while a drop below could trigger a pullback toward support zones between 24,800 and 24,500. Maintaining these levels will be vital for continued growth.
The advice given by Kalkine Canada Advisory Services Inc. and provided on this website is general information only and it does not take into account your investment objectives, financial situation and the particular needs of any particular person. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. The website www.kalkine.ca is published by Kalkine Canada Advisory Services Inc. The link to our Terms & Conditions has been provided please go through them. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations later.
CA
AU
UK
US
NZ
IND
Please wait processing your request...