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Hamilton Spectator
4 days ago
- Business
- Hamilton Spectator
S&P/TSX composite down in late-morning trading, U.S. stock markets also lower
TORONTO - Losses in industrial and telecommunication stocks weighed on the Toronto market as Canada's main stock index fell in late-morning trading, while U.S. stock markets also pulled back. The S&P/TSX composite index was down 78.55 points at 27,308.38. In New York, the Dow Jones industrial average was down 149.30 points at 44,335.19. The S&P 500 index was down 3.89 points at 6,293.47, while the Nasdaq composite was down 15.60 points at 20,870.05. The Canadian dollar traded for 72.89 cents US compared with 72.71 cents US on Thursday. The September crude oil contract was up 78 cents US at US$67.01 per barrel. The August gold contract was up US$14.80 at US$3,360.10 an ounce. This report by The Canadian Press was first published July 18, 2025. Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
Yahoo
04-07-2025
- Business
- Yahoo
Telecom stocks help lift S&P/TSX composite in late-morning trading
TORONTO — Canada's main stock index was up in late-morning trading, helped by strength in the telecom sector. 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) The Canadian Press 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
Canada News.Net
03-07-2025
- Business
- Canada News.Net
Record-breaking day on Wall Street for Nasdaq, S&P 500
NEW YORK, New York -U.S. stock markets closed with broad gains on Thursday, led by strong performances in U.S. tech stocks, while European and Asian indices showed mixed movements. The Nasdaq Composite and Standard and Poor's 500 hit new record highs following release of a favorable jobs report. Nvidia closed with a market capitalization of $3.89 trillion, soon to eclipse Apple as the world's most valuable company. "We are seeing a real bout of irrational exuberance; the stock market is very biased towards optimism," Kristina Hooper, Chief Market Strategist at Man Group in New York told CNBC Thursday. "But there's some basis for it. I think there is some level of relief because the jobs report was not as weak as it could have been." U.S. Markets Rally Canada Advances S&P/TSX Composite (Canada) (^GSPTSE): Up 164.60 points (0.61 percent) to 27,034.26 UK and European Markets Mostly Higher FTSE 100 (^FTSE): Up 48.51 points (0.55 percent) to 8,823.20 DAX (^GDAXI): Added 144.02 points (0.61 percent) to 23,934.13 CAC 40 (^FCHI): Edged up 16.13 points (0.21 percent) to 7,754.55 EURO STOXX 50 (^STOXX50E): Climbed 24.43 points (0.46 percent) to 5,343.15 Euronext 100 (^N100): Increased 3.87 points (0.25 percent) to 1,581.23 BEL 20 (^BFX): Declined 6.67 points (0.15 percent) to 4,486.13 Asia and Pacific Mixed SSE Composite (China) ( Edged up 6.36 points (0.18 percent) to 3,461.15 Nikkei 225 (Japan) (^N225): Inched up 23.42 points (0.06 percent) to 39,785.90 Hang Seng Index (^HSI): Fell 151.47 points (0.63 percent) to 24,069.94 STI Index (Singapore) (^STI): Gained 8.80 points (0.22 percent) to 4,019.57 S&P/ASX 200 (^AXJO): Slipped 1.90 points (0.02 percent) to 8,595.80 All Ordinaries (Australia) (^AORD): Rose 4.90 points (0.06 percent) to 8,833.60 S&P BSE SENSEX (India) (^BSESN): Dropped 170.22 points (0.20 percent) to 83,239.47 IDX COMPOSITE (Indonesia) (^JKSE): Down 3.19 points (0.05 percent) to 6,878.05 FTSE Bursa Malaysia KLCI (^KLSE): Fell 1.22 points (0.08 percent) to 1,548.99 S&P/NZX 50 (New Zealand) (^NZ50): Declined 79.81 points (0.62 percent) to 12,704.48 KOSPI (South Korea) (^KS11): Surged 41.21 points (1.34 percent) to 3,116.27 TWSE (Taiwan) (^TWII): Gained 135.23 points (0.60 percent) to 22,712.97 Middle East Markets Close Higher TA-125 (Israel) (^ Rose 28.09 points (0.91 percent) to 3,106.80 EGX 30 (Egypt) (^CASE30): Increased 113.30 points (0.35 percent) to 32,820.50 Africa Gains Johannesburg All Share (South Africa) (^ Gained 48.24 points (0.89 percent) to 5,469.10. Currency Markets US Dollar Index ( Strengthened 0.40 points (0.42 percent) to 97.18 MSCI Europe (^125904-USD-STRD): Rose 7.18 points (0.30 percent) to 2,429.92 British Pound Index (^XDB): Up 0.12 points (0.09 percent) to 136.48 Euro Currency Index (^XDE): Fell 0.42 points (0.36 percent) to 117.56 Japanese Yen Index (^XDN): Dropped 0.62 points (0.89 percent) to 68.96 Australian Dollar Index (^XDA): Slipped 0.11 points (0.17 percent) to 65.71
Reuters
24-06-2025
- Business
- Reuters
TSX climbs to record high, helped by Middle East ceasefire optimism
June 24 (Reuters) - Canada's main stock index rose to a record high on Tuesday, led by financial and technology shares, as investors cheered a cooling of Middle East tensions and found reassurance in domestic inflation data. The S&P/TSX Composite Index (.GSPTSE), opens new tab ended up 109.26 points, or 0.4%, at 26,718.62, eclipsing the record closing high it posted on June 12. "It's riding on the coattails of what's come out recently in the Middle East," said Allan Small, senior investment advisor of the Allan Small Financial Group with iA Private Wealth. "All of a sudden we went from everything around us was negative, to positive once again. That's how fast things can turn and a good example to why investors can't run and hide, (can't) try and time markets." Wall Street also rallied as investors welcomed a fragile truce with Israel and Iran while parsing Federal Reserve Chair Jerome Powell's congressional testimony for clues regarding the U.S. central bank's path forward. Canada's annual inflation rate in May was unchanged from the previous month, at 1.7%, as a drop in gasoline costs continued to keep the overall index stable while prices of shelter, food and transportation also cooled. "The CPI numbers they weren't anything that I thought anyway to be nervous about," Small said. The heavily weighted financials sector rose 1%, while technology ended 2.5% higher, helped by a gain of 4% for e-commerce company Shopify ( opens new tab. Commodity-linked stocks were a drag. The energy sector (.SPTTEN), opens new tab lost 1.5% as the price of oil settled 6% lower at $64.37 a barrel on expectations that the ceasefire will reduce the risk of oil supply disruptions in the Middle East. Energy producers in Alberta, Canada's top oil-producing province, blew past the province's self-imposed limit on annual natural gas flaring in 2024 for a second year in a row, Reuters calculations show. Safe-haven gold also declined, falling 2.5%. The materials sector, which includes metal mining shares, was down 1.7%.
Reuters
27-05-2025
- Business
- Reuters
TSX's gains set to slow as trade war hits Canada's economy
TORONTO, May 27 (Reuters) - Canada's main stock index is set to largely consolidate its recent gains through the rest of 2025 and could be at risk of another correction as the domestic economy shows signs of a slowdown due to U.S. tariffs, a Reuters poll found. The S&P/TSX Composite index (.GSPTSE), opens new tab has rebounded nearly 16% from its lowest closing level in April to post a record closing high on Monday at 26,073.13. Since the start of the year, the index has gained 5.4%, outperforming major U.S. indexes such as the S&P 500. It has been helped by a heavy weighting in metal mining shares as safe-haven demand lifted the price of gold to record highs. "We still believe that peak uncertainty is behind us but the Canadian economy is starting to show the impact from tariffs," said Angelo Kourkafas, a senior global investment strategist at Edward Jones. Canada sends about 75% of its exports to the United States, including steel, aluminum and autos which have been hit by hefty U.S. duties, while Canada's unemployment rate was at 6.9% in April, its highest level since November. The median prediction of 21 equity strategists and portfolio managers in the May 15-27 poll was for the S&P/TSX Composite index to edge 0.7% higher to 26,250 by year-end, slightly less than the 26,500 mark expected in a February poll. "As companies continue to grapple with the implications of tariffs and recalibrate their inventory strategies, alongside the inclination to delay capital expenditures, profit margins will likely face pressure," said Victor Kuntzevitsky, a portfolio manager at Stonehaven, Wellington-Altus Private Counsel. Seven out of 13 analysts who answered a separate question said corporate earnings would be lower in 2025 compared with 2024 while eight out of 13 said a correction was likely or highly likely over the coming three months. A correction, or a drop of 10% or more from the peak, was confirmed in April before the market rebounded. "We are focusing more on dividend payers as it will protect one's portfolio better during a market correction," said Ben Jang, a portfolio manager at Nicola Wealth. "Over time, falling interest rates are expected to drive outflows from money market instruments." The Bank of Canada has cut its benchmark interest rate by 2-1/4 percentage points since last June, to 2.75%, to support the economy. Lower borrowing costs and the potential for trade deals could eventually see the market take another leg higher, analysts say. The index was expected to reach 27,750 by the end of next year, a gain of 6.4%. "Once there is more clarity on trade and lower interest rates start filtering through the economy in 2026, we see a reacceleration in earnings," Kourkafas, from Edward Jones, said. (Other stories from the Reuters Q2 global stock markets poll package)
