S&P/TSX composite falls Monday, U.S. markets mixed
The S&P/TSX composite index closed down 88.93 points at 27,405.42.
In New York, the Dow Jones industrial average was down 64.36 points at 44,837.56. The S&P 500 index was up 1.13 points at 6,389.77, while the Nasdaq composite was up 70.27 points at 21,178.58.
The Canadian dollar traded for 72.87 cents US compared with 72.97 cents US on Friday.
The September crude oil contract was up US$1.55 at US$66.71 per barrel.
The August gold contract was down US$25.60 at US$3,310.00 an ounce.
This report by The Canadian Press was first published July 28, 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
15 minutes ago
- Yahoo
China's manufacturing activity shrinks as exports drag, S&P PMI shows
BEIJING (Reuters) -China's factory activity deteriorated in July, as a softening of new business growth led manufacturers to scale back production, a private-sector survey showed on Friday. The S&P Global China General Manufacturing PMI fell to 49.5 in July from 50.4 in June, undershooting analysts' expectations of 50.4 in a Reuters poll. The 50-mark separates growth from contraction. The reading, combined with Thursday's official survey, bodes ill for growth momentum at the start of the third quarter, following robust growth in the first half of the year. Amid a trade truce with Washington, economists say the support of exports front-loading ahead of higher U.S. tariffs to the world's second-biggest economy may fade over the remainder of the year. According to the S&P Global survey, new export orders contracted for a fourth straight month and at a faster pace than in June. After rising in June, manufacturing output declined in July. Firms looked to utilise their current stock holdings for the fulfilment of orders, which contributed to a second successive monthly decline in post-production inventories. Falling production together with a stable backlog prompted factory owners to lower their headcount in July. Firms also said cost concerns had underpinned decisions to shed staff. However, business sentiment improved at the start of the second half of 2025 but was still below the series average. Manufacturers expected better economic conditions and promotional efforts to spur sales in the year ahead. As Beijing started to tackle "price wars" among manufacturers, average input prices increased for the first time in five months. Firms nevertheless lowered their selling prices again as competition for new business intensified. But export charges increased at the fastest pace in a year due to rising shipping and logistics costs. Top leaders on Wednesday pledged to support an economy that is facing various risks, by managing what is viewed as disorderly competition in the second half of the year. Markets expected that Beijing may be about to start a new round of factory capacity cuts in a long-awaited but challenging campaign against deflation. From July, Caixin no longer sponsors the S&P Global China PMI. Sign in to access your portfolio
Yahoo
15 minutes ago
- Yahoo
Asian Stocks Decline on Tariffs, Dollar Edges Up: Markets Wrap
(Bloomberg) -- Asian stocks fell for a sixth straight session — the longest losing streak this year — as President Donald Trump announced new tariff rates and solid earnings from megacap tech firms failed to lift sentiment. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival We Should All Be Biking Along the Beach Budapest's Most Historic Site Gets a Controversial Rebuild San Francisco in Talks With Vanderbilt for Downtown Campus The MSCI Asia Pacific Index dropped 0.6% as South Korean shares sank 3%. Contracts for the S&P 500 and European stocks fell 0.2%. Trump announced a slew of new tariffs, including a 10% global minimum and 15% or higher duties for countries with trade surpluses with the US. The dollar edged higher Friday after posting its first monthly gain since Trump took office in January. The Taiwan dollar fell for a seventh consecutive day, the longest losing streak since June 2023, as the island got a 20% tariff rate. The Swiss franc edged lower after Trump put a 39% levy on the country's exports to the US. The moves signaled that concerns over tariffs and economic growth were starting to outweigh the AI-driven optimism that has buoyed megacap tech stocks. While artificial intelligence remains a pillar of long-term bullishness, investors are bracing for potential trade disruptions as the US and key partners weigh new levies. 'The announcement brings clarity on paper, but uncertainty in practice,' said Charu Chanana, chief investment strategist at Saxo Markets. 'While markets now know the numbers, the lack of a clear framework behind these tariffs — and the seemingly arbitrary rates — only reinforces the sense of policy unpredictability. This makes it harder for businesses and investors to plan ahead.' The White House issued a statement just hours before midnight, the deadline Trump set last month after pausing his country-based tariffs for a second time to allow for negotiations. It was unclear exactly when the new rates would take effect. Markets Live Strategist Garfield Reynolds says: We're now officially entering the era of substantial barriers to trade. The impact will hurt global trade and growth, and that's likely to bring equities down from their recent peaks. Lingering uncertainty will also weigh on corporate decision-making, further chilling growth. While most of the levies just announced are lower than the extremes flagged on April 2, there's a lack of rationale for many of the rates set that will add to the air of policy volatility. Some of the tariffs were expected, such as a 25% levy on Indian exports. Others included charges of 20% on Taiwanese products, 39% on Swiss goods and 30% on South African products. Thailand and Cambodia, two countries that were said to have struck a last-minute deal, received a 19% duty. Taiwan and the US haven't yet held a summary meeting due to scheduling conflicts and the tariff rate of 20% is temporary, according to a statement from Taiwan's cabinet. Taiwan will work to reach an agreement with the US as soon as possible to seek a further reduction in reciprocal tariffs. Read the Full List of US Tariff Rates on Global Trading Partners US stocks fell Thursday, erasing an initial advance on tech earnings that sent Microsoft Corp. above $4 trillion in market value. Apple Inc. shares rose in after-market trading following a sales beat, while those for Inc. fell as its outlook underwhelmed. Meanwhile, Trump sent letters to 17 of the largest pharmaceutical companies in a bid to lower prices, weakening their shares Thursday. Trump is also asking bank chief executive officers for their pitches on monetizing mortgage giants Fannie Mae and Freddie Mac, including a major public offering of stock, according to people familiar with the matter. The market's attention will soon turn to Friday's jobs report for July, which is forecast to show companies are becoming more deliberate in their hiring. Employment likely moderated after a June increase, while the unemployment rate is seen ticking up to 4.2%. In the run-up, the Fed's preferred measure of underlying inflation accelerated in June to one of the fastest paces this year while consumer spending barely rose, underscoring the dueling forces dividing policymakers over the path of rates. The core personal consumption expenditures price index rose 0.3% from May. It advanced 2.8% on an annual basis, a pickup from June 2024 that underscores limited progress on taming inflation in the past year. The data also showed inflation-adjusted consumer spending edged up last month. Corporate Highlights: Apple Inc. reported its fastest quarterly revenue growth in more than three years, easily topping Wall Street estimates. Inc. dropped in late trading after projecting weaker-than-expected operating income. Tokyo Electron Ltd. shares dived 18% — the most in nearly a year — after the chip tool maker slashed its full-year earnings outlook. Oversea-Chinese Banking Corp.'s second-quarter profit topped estimates thanks to a fee jump. Shein Group Ltd.'s net income rose to over $400 million and revenue was almost $10 billion in the first quarter as consumers snapped up the fast-fashion retailer's products ahead of US tariffs. Asian pharmaceutical companies that sell products in the US slid after Trump demanded drug companies lower US prices. Some of the main moves in markets: Stocks S&P 500 futures fell 0.2% as of 10:54 a.m. Tokyo time Japan's Topix rose 0.4% Australia's S&P/ASX 200 fell 0.8% Hong Kong's Hang Seng was little changed The Shanghai Composite fell 0.1% Euro Stoxx 50 futures fell 0.2% Currencies The Bloomberg Dollar Spot Index rose 0.1% The euro was little changed at $1.1406 The Japanese yen was little changed at 150.90 per dollar The offshore yuan fell 0.2% to 7.2202 per dollar Cryptocurrencies Bitcoin fell 1% to $115,321.97 Ether fell 1.3% to $3,684.9 Bonds The yield on 10-year Treasuries was little changed at 4.38% Japan's 10-year yield was little changed at 1.540% Australia's 10-year yield advanced five basis points to 4.31% Commodities West Texas Intermediate crude was little changed Spot gold fell 0.2% to $3,282.52 an ounce This story was produced with the assistance of Bloomberg Automation. --With assistance from Winnie Hsu and Richard Henderson. Burning Man Is Burning Through Cash Russia Builds a New Web Around Kremlin's Handpicked Super App Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
17 minutes ago
- Bloomberg
China's Factory Activity Unexpectedly Contracts in Private Poll
China's manufacturing activity unexpectedly contracted in July from a month ago, according to a private survey, adding to worrying signs about the economy's momentum in the coming months. The S&P Global manufacturing purchasing managers' index for China fell to 49.5 from 50.4 in June, according to a statement released Friday. That compared with the median forecast of 50.2 by economists. A reading above 50 indicates improving conditions from the previous month.
