RY 161.2 -1.8509% SHOP 138.97 -5.2176% TD 86.42 -0.9967% ENB 63.565 0.1024% BN 74.36 -4.0145% TRI 244.82 -0.9027% CNQ 43.695 -1.3211% CP 100.11 -2.4269% CNR 140.04 -1.8641% BMO 137.15 -1.267% BNS 68.325 -1.2645% CSU 4591.96 -1.5043% CM 80.13 -2.3043% MFC 44.03 -1.1672% ATD 69.99 -0.5683% NGT 68.92 -0.4478% TRP 68.76 -0.5064% SU 54.77 -0.9405% WCN 276.03 -0.4867% L 197.94 0.7226%
Image Source : Krish Capital Pty Ltd
Index Update: The benchmark S&P/TSX Composite Index closed down 391.88 points or 1.54% at 25,001.57. The index dropped to a low of 24,885.70 in the final hour, before staging a modest recovery from that level.
Macro Update: The mood remained bearish on Bay Street as U.S. President Donald Trump confirmed that the 25% tariffs on Canada and Mexico will take effect Tuesday.
Trump also announced plans to impose tariffs on imported agricultural products from April 2.
The S&P Global Canada Manufacturing PMI fell to 47.8 in February of 2025 from 51.6 in the previous month, contrasting sharply with market expectations of 51.9. The result pointed to the first decline in factory activity since August of last year and the sharpest since December 2023.
Top Movers: Stella-Jones, Docebo, GFL Environmental, GDI Integrated Facility Services, Pet Valu Holdings, Kinaxis, ATCO, Quebecor, Canadian Tire Corporation, Emera, BCE Inc., and Endeavour Mining gained 1.5 to 4%.
Our Stance: The index remains below its 21-period Simple Moving Average, indicating that the short-term downtrend persists. Additionally, the Relative Strength Index (RSI) sits at 42.40, signaling potential underlying weakness that traders should closely monitor. The key support level at 24,800 will be crucial holding above it could trigger a rebound, while a breakdown may lead to stronger support zones between 24,600 and 24,400.
Commodity Update: The Canadian dollar and Mexican peso remained near their lowest levels in a month on Tuesday, driven by fears of a trade war after U.S. President Donald Trump announced 25% tariffs on goods from both countries. Trump stated that there was "no room left" for a deal unless fentanyl flows into the U.S. were curtailed. In commodities, gold dropped 0.12% to $2,897.80, silver fell 0.55% to $32.13, and copper slid 0.35% to $9,377.80. Brent crude oil declined 0.75% to $71.08, as markets reacted to Trump’s pause in military aid to Ukraine and tariff threats. Investors are watching upcoming NFP data.
Technical Update: On Monday, the S&P/TSX Composite Index declined by 1.54%, closing at 25,001.57. The energy sector experienced significant pressure, falling 2.83% and contributing to the overall bearish sentiment. The index remains below its 21-period Simple Moving Average, indicating that the short-term downtrend persists. Additionally, the Relative Strength Index (RSI) sits at 42.40, signaling potential underlying weakness that traders should closely monitor. The key support level at 24,800 will be crucial holding above it could trigger a rebound, while a breakdown may lead to stronger support zones between 24,600 and 24,400. Moving forward, market participants will be watching for signals that could influence the index’s direction.
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...