RY 161.29 0.8315% SHOP 116.7 1.6108% TD 83.65 0.553% ENB 61.82 1.2613% BN 68.755 0.8729% TRI 248.88 1.754% CNQ 38.22 0.6054% CP 103.1 0.4775% CNR 138.9 -0.0576% BMO 129.44 1.1013% BNS 65.52 0.7845% CSU 4654.3901 1.9582% CM 81.81 1.3755% MFC 40.37 1.0766% ATD 69.68 -0.9805% NGT 76.14 0.2106% TRP 67.93 2.0123% SU 46.68 0.4735% WCN 273.82 0.8397% L 206.99 -1.499%
Image Source : Krish Capital Pty Ltd
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 0.13%, while silver slipped 0.25% to $31.85. Copper rose 0.19% to $9,163.20. Brent crude fell 0.30% to $64.56 due to concerns about slowing global growth.
Technical Update: On Friday, the S&P/TSX Composite Index surged by 572.93 points to close at 23,587.80, marking a 2.49% gain driven by heightened investor confidence and increased trading activity. The basic materials sector led the advance with an impressive 4.77% rise. Despite the rally, the index remains below its 21-period Simple Moving Average (SMA), signaling continued downward momentum and underlying selling pressure. The Relative Strength Index (RSI) has dipped to 43.25, approaching oversold territory, which could set the stage for a short-term relief rally. 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.
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