S&P/TSX composite up in late-morning trading, U.S. stock markets also higher
The S&P/TSX composite index was up 110.49 points at 27,424.50.
In New York, the Dow Jones industrial average was up 202.54 points at 44,544.73. The S&P 500 index was up 35.76 points at 6,332.55, while the Nasdaq composite was up 151.42 points at 21,047.07.
The Canadian dollar traded for 73.09 cents US compared with 72.89 cents US on Friday.
The September crude oil contract was down 18 cents US at US$65.87 per barrel.
The August gold contract was up US$52.20 at US$3,410.50 an ounce.
This report by The Canadian Press was first published July 21, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
24 minutes ago
- Yahoo
Strong Results Boosted Cloudflare (NET) in Q2
Fred Alger Management, an investment management company, released its 'Alger Mid Cap Focus Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. Equity markets regained their strength in the second quarter of 2025. Class A shares of the fund outperformed the Russell Midcap Growth Index during the quarter. The Industrials and Energy sectors contributed to the relative performance of the strategy in the quarter, while Information Technology and Consumer Discretionary sectors detracted. In addition, please check the fund's top five holdings to know its best picks in 2025. In its second quarter 2025 investor letter, Alger Mid Cap Focus Fund highlighted stocks such as Cloudflare, Inc. (NYSE:NET). Cloudflare, Inc. (NYSE:NET) is a cloud services provider that delivers a range of services to businesses worldwide. The one-month return of Cloudflare, Inc. (NYSE:NET) was -0.95%, and its shares gained 142.38% of their value over the last 52 weeks. On July 23, 2025, Cloudflare, Inc. (NYSE:NET) stock closed at $189.15 per share, with a market capitalization of $65.561 billion. Alger Mid Cap Focus Fund stated the following regarding Cloudflare, Inc. (NYSE:NET) in its second quarter 2025 investor letter: "Cloudflare, Inc. (NYSE:NET) provides cloud-based security, performance optimization, and reliability solutions designed to enhance the speed, safety, and resilience of internet applications and websites worldwide. Its products include content delivery networks, website protection, and application performance services, as well as advanced developer tools that support building and deploying web applications. We believe the company is benefiting from several favorable product cycles, robust sales execution, and an exceptional management team. In our view, the company is well positioned to capitalize on key industry trends, including edge based AI, secure access service edge (SASE), edge security solutions, and zero trust network access. Shares contributed positively during the quarter following strong fiscal first-quarter results that exceeded analyst estimates. Better-than-expected revenues were driven by increased demand for subscription services and heightened adoption of its developer platform, Workers, and SASE offerings. Additionally, investor optimism was fueled by Cloudflare securing a significant new contract exceeding $100 million, highlighting the growing importance and scale of its platform. Management also reaffirmed robust full-year revenue guidance, signaling confidence in continued growth and strategic execution." Cloudflare, Inc. (NYSE:NET) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 65 hedge fund portfolios held Cloudflare, Inc. (NYSE:NET) at the end of the first quarter, which was 55 in the previous quarter. Cloudflare, Inc.'s (NYSE:NET) revenue for the first quarter revenue increased 27% year-over-year to $479.1 million. While we acknowledge the potential of Cloudflare, Inc. (NYSE:NET) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Cloudflare, Inc. (NYSE:NET) and shared the list of stocks Jim Cramer weighed in. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
24 minutes ago
- Yahoo
Vertiv Holdings Co (VRT) Benefited from Accelerated Demand
Fred Alger Management, an investment management company, released its 'Alger Mid Cap Focus Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. Equity markets regained their strength in the second quarter of 2025. Class A shares of the fund outperformed the Russell Midcap Growth Index during the quarter. The Industrials and Energy sectors contributed to the relative performance of the strategy in the quarter, while Information Technology and Consumer Discretionary sectors detracted. In addition, please check the fund's top five holdings to know its best picks in 2025. In its second quarter 2025 investor letter, Alger Mid Cap Focus Fund highlighted stocks such as Vertiv Holdings Co. (NYSE:VRT). Vertiv Holdings Co. (NYSE:VRT) provides critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments. The one-month return of Vertiv Holdings Co. (NYSE:VRT) was 7.03%, and its shares gained 65.66% of their value over the last 52 weeks. On June 23, 2025, Vertiv Holdings Co. (NYSE:VRT) stock closed at $130.19 per share, with a market capitalization of $49.616 billion. Alger Mid Cap Focus Fund stated the following regarding Vertiv Holdings Co (NYSE:VRT) in its second quarter 2025 investor letter: "Vertiv Holdings Co (NYSE:VRT) specializes in critical cooling and power management infrastructure technologies, catering primarily to data center clients. As an industry leader in data center power and cooling solutions, we believe Vertiv is well-positioned to benefit from long term growth driven by increasing demand for AI and computing capabilities. During the quarter, shares contributed positively to performance after the company delivered strong first-quarter results, where revenues and earnings both exceeded analyst estimates driven by rising demand from AI-enabled data centers. Investor optimism was further fueled by upbeat guidance, with management raising full-year revenue estimates and signaling continued AI-driven growth in orders and backlog." A close-up of a group of technicians working on complex data center systems. Vertiv Holdings Co (NYSE:VRT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 90 hedge fund portfolios held Vertiv Holdings Co (NYSE:VRT) at the end of the first quarter, which was 92 in the previous quarter. While we acknowledge the potential of Vertiv Holdings Co (NYSE:VRT) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Vertiv Holdings Co (NYSE:VRT) and shared the list of buzzing stocks everyone is talking about. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
24 minutes ago
- Yahoo
Mortgage Rate and Home Price Growth Forecasts Revised Lower
WASHINGTON, July 24, 2025 /PRNewswire/ -- Mortgage rates are expected to end 2025 and 2026 at 6.4 percent and 6.0 percent, respectively, downward revisions compared with last month's forecast of 6.5 percent and 6.1 percent, according to the July 2025 Economic and Housing Outlook from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. The ESR Group also updated its home price growth forecast this month and now projects annual home price growth, on a Q4/Q4 basis, of 2.8 percent in 2025 and 1.1 percent in 2026. These are downward revisions compared with the previously projected 4.1 percent and 2.0 percent. Total home sales are forecast at 4.85 million units in 2025 and 5.35 million units in 2026. Visit Fannie Mae's Data and Insights page to read the full July 2025 Economic and Housing Outlook, including the Economic Developments Commentary, Economic Forecast, and Housing Forecast. To receive email updates with other housing market research from Fannie Mae's Economic and Strategic Research Group, please click here. Opinions, analyses, estimates, forecasts, beliefs, and other views of Fannie Mae's Economic and Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae's business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, beliefs, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, beliefs, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management. About the ESR GroupFannie Mae's Economic and Strategic Research Group, led by Chief Economist Mark Palim, studies current data, analyzes historical and emerging trends, and conducts surveys of consumers and mortgage lenders to inform forecasts and analyses on the economy, housing, and mortgage markets. Follow Fannie Fannie Mae Newsroomhttps:// Photo of Fannie Maehttps:// Fannie Mae Resource Center1-800-2FANNIE View original content to download multimedia: SOURCE Fannie Mae 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
