RY 162.52 -0.3189% SHOP 135.99 3.2025% TD 85.98 -0.2552% ENB 63.8 -0.7004% BN 73.76 0.5453% TRI 250.39 -0.7492% CNQ 40.72 0.0737% CP 100.1 -1.126% CNR 134.14 -0.8574% BMO 131.55 -0.5819% BNS 67.14 -0.2526% CSU 4850.0 -0.7959% CM 84.34 0.8128% MFC 41.715 -0.3226% ATD 71.99 -0.3323% NGT 74.3 -3.7814% TRP 68.63 0.0729% SU 49.435 0.2332% WCN 267.63 -1.852% L 215.28 -0.0139%
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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 signals.
Technical Update: The S&P/TSX Composite Index gained 166.70 points, or 1.04%, on Thursday to settle at 24,727.53, breaking above the 200-day Simple Moving Average—a potential early sign of stabilization. Despite the uptick, the index continues to form lower highs and lows, signaling ongoing bearish pressure. The RSI has improved to 52.32, hinting at a short-term bounce. Key support lies at 23,700, with further levels at 23,400 and 23,000 if breached. 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.
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