Telecom stocks help lift S&P/TSX composite in late-morning trading
The S&P/TSX composite index was up 30.30 points at 27,064.56.
The move on the Toronto market came with U.S. markets closed for the Fourth of July holiday.
The Canadian dollar traded for 73.48 cents US compared with 73.66 cents US on Thursday.
The August crude oil contract was down 44 cents US at US$66.56 per barrel.
The August gold contract was up 40 cents US at US$3,343.30 an ounce.
This report by The Canadian Press was first published July 4, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
9 minutes ago
- Yahoo
3 Software Stocks to Keep an Eye On
From commerce to culture, software is digitizing every aspect of our lives. This secular theme makes SaaS companies attractive investment candidates but also comes with higher valuations that cause volatility. Unfortunately, the rich prices have haunted them over the past six months as the industry has shed 2.3%. This performance was discouraging since the S&P 500 returned 5%. However, some businesses can support their premium valuations with superior earnings growth, and our mission at StockStory is to help you find them. Keeping that in mind, here are three resilient software stocks at the top of our wish list. Market Cap: $73.9 billion Founded in 2013 by three French engineers who spent decades working for Oracle, Snowflake (NYSE:SNOW) provides a data warehouse-as-a-service in the cloud that allows companies to store large amounts of data and analyze it in real time. Why Do We Like SNOW? Billings have averaged 26.5% growth over the last year, showing it's securing new contracts that could potentially increase in value over time High switching costs and customer loyalty are evident in its net revenue retention rate of 126% Expected revenue growth of 24.4% for the next year suggests its market share will rise Snowflake is trading at $221.49 per share, or 15.4x forward price-to-sales. Is now the right time to buy? Find out in our full research report, it's free. Market Cap: $1.36 billion Started by Oleg Shchegolev while still in university, Semrush (NYSE:SEMR) is a software-as-a-service platform that helps companies optimize their search engine and content marketing efforts. Why Are We Fans of SEMR? Winning new contracts that can potentially increase in value as its billings growth has averaged 24.8% over the last year Projected revenue growth of 18.7% for the next 12 months suggests its momentum from the last three years will persist Prominent and differentiated software results in a premier gross margin of 82.1% Semrush's stock price of $9.15 implies a valuation ratio of 2.9x forward price-to-sales. Is now a good time to buy? See for yourself in our in-depth research report, it's free. Market Cap: $4.48 billion Founded in Chennai, India in 2010 with the idea of creating a 'fresh' helpdesk product, Freshworks (NASDAQ: FRSH) offers a broad range of software targeted at small and medium-sized businesses. Why Are We Positive On FRSH? Ability to secure long-term commitments with customers is evident in its 19.7% ARR growth over the last year Superior software functionality and low servicing costs result in a stellar gross margin of 84.4% Operating margin expanded by 9.2 percentage points over the last year as it scaled and became more efficient At $15.40 per share, Freshworks trades at 5.4x forward price-to-sales. Is now the time to initiate a position? Find out in our full research report, it's free. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today for free. Find your next big winner with StockStory today. Find your next big winner with StockStory today
Yahoo
32 minutes ago
- Yahoo
Elon Musk and Sam Altman have something else in common: Dissatisfaction with politics
Archrivals Elon Musk and Sam Altman may have found something to bond over. The two tech billionaires are both disenchanted with US politics. Both posted about their political frustrations on X this Fourth of July. Forget fireworks and cookouts: Elon Musk and Sam Altman are spending their Fourth of July sharing their frustrations about US politics. The rival tech billionaires each celebrated Independence Day with social-media posts in which they vented about the state of the 50 states. Musk rekindled his idea of starting a new political party called the "America Party" in an X post. This comes after a falling out between the Tesla CEO and his former ally, President Donald Trump. "Independence Day is the perfect time to ask if you want independence from the two-party (some would say uniparty) system!" Musk wrote on X. Musk's musings may have been prompted by Trump's so-called "big, beautiful bill," which the billionaire slammed as being full of bloat. OpenAI CEO Sam Altman also expressed dissatisfaction with politics, specifically with the Democratic Party. Once a Democratic mega-donor, Altman wrote on X that he's now "politically homeless." Altman's missive started as a love letter to the US. "I'm not big on identities, but I am extremely proud to be American," he wrote. "This is true every day, but especially today — I firmly believe this is the greatest country ever on Earth." But don't expect Altman to host fundraisers for Democrats anytime soon. The tech mogul said he's a believer in "techno-capitalism," where wealth flows from innovation, entrepreneurship, and education. In his view, the Democratic Party is now out of step with that mission. "The Democratic party seemed reasonably aligned with it when I was 20, losing the plot when I was 30, and completely to have moved [sic] somewhere else at this point," Altman wrote. The billionaire added that "I care much, much more about being American than any political party." Altman's shift may come as anti-billionaire sentiment among Democrats, including New York City mayoral candidate Zohran Mamdani, is on the rise. "I'd rather hear from candidates about how they are going to make everyone have the stuff billionaires have instead of how they are going to eliminate billionaires," Altman wrote. Musk is also a former self-identifying Democrat who became alienated from the party and eventually threw his support behind Republicans, culminating in his former leadership role in Trump's DOGE project. Despite his frustrations, Altman might not join Musk's America Party, given their squabbles. But if Altman and Musk do squash their beef, it could be because of this Fourth of July — and it won't be because they're grilling. Read the original article on Business Insider
Yahoo
32 minutes ago
- Yahoo
Trump news at a glance: Republicans pass bill that will cut federal safety net and boost immigration enforcement
The US House of Representatives passed Donald Trump's sweeping tax and spending bill on Thursday, handing the president the first major legislative victory of his second term, with the bill expected to supercharge immigration enforcement and slash federal safety net programs. For decades, Republicans have argued that the US would be better off if taxes were low, and programs to help low-income Americans were harder to access. Thursday's bill will in effect make this a reality, fundamentally reordering two major social safety net programs, slashing funding and imposing new work requirements. Nonpartisan estimates say it will cost millions of people their benefits and the ripple effects, experts say, will be felt across the country, and not just by the poor. Meanwhile big tax cuts that were set to expire this year will be made permanent, with these provisions expected to generally benefit high earners more than most. Here's the latest: The 218-214 vote came after weeks of wrangling over the measure that Trump demanded be ready for his signature by Friday, the Independence Day holiday. Written by his Republican allies in Congress and unanimously rejected by Democrats, the bill traveled an uncertain road to passage that saw multiple all-night votes in the House and Senate and negotiations that lasted until the final hours before passage. Ultimately, Republicans who had objected to its cost and contents folded, and the bill passed with just two GOP defections: Thomas Massie, a rightwing Kentucky lawmaker, and Brian Fitzpatrick, who represents a Pennsylvania district that voted for Kamala Harris in last year's election. Read the full story Despite the many cuts to the social safety net, the bill is still hugely expensive. The CBO forecasts it will add $3.3tn to the deficit through 2034, mostly due to the tax cuts. For fiscal hawks concerned about the sustainability of the country's budget deficit, which has yawned higher in recent years as Washington DC battled the Covid-19 pandemic with massive fiscal stimulus, there's little beauty in Trump's bill. Read the full story The supreme court on Thursday cleared the way for the deportation of several immigrants who were put on a flight in May bound for South Sudan, a war-ravaged country where they have no ties. The decision comes after the court's conservative majority found that immigration officials can quickly deport people to third countries. The majority halted an order that had allowed immigrants to challenge any removals to countries outside their homeland where they could be in danger. Read the full story The US supreme court announced on Thursday that it will consider a bid by West Virginia and Idaho to enforce their state laws banning transgender athletes from female sports teams at public sector schools. The decision means the court is prepared to take up another civil rights challenge to Republican-backed restrictions on transgender people. Read the full story Barack Obama, the former US president, sounded the alarm about Joe Biden's ailing re-election bid almost a year before polling day, warning his former vice-president's staff 'your campaign is a mess', a new book reveals. Read the full story A former CBS News anchor and 60 minutes correspondent, Dan Rather, has blasted the $16m settlement between Paramount, the parent company of CBS News, and Donald Trump, calling it a 'sad day for journalism'. 'It's a sad day for 60 Minutes and CBS News,' Rather, a veteran journalist who was a CBS News anchor for over 20 years, told Variety in an interview published on Wednesday. 'I hope people will read the details of this and understand what it was. It was distortion by the president and a kneeling down and saying, 'yes, sir,' by billionaire corporate owners.' Read the full story A generation of scientific talent is at the brink of being lost to overseas competitors by the Trump administration's dismantling of the National Science Foundation (NSF), with unprecedented political interference at the agency jeopardizing the future of US industries and economic growth, according to a Guardian investigation. Read the full story The US economy added 147,000 jobs in June, a sign of continuing strength in the labor market amid Donald Trump's trade war. The EU and US are closing in on a high-level 'framework' trade deal that would avert 50% tariffs on all exports from the bloc next Wednesday, Trump's self-imposed deadline. ever on Thursday after he spoke for more than eight hours to delay a vote on Donald Trump's signature tax-and-spending bill. Donald Trump signed to increase entry fees for foreign tourists visiting US national parks. Catching up? Here's what happened on .
