S&P/TSX composite down in late-morning trading despite gains in energy stocks
TORONTO — Canada's main stock index was down in late-morning trading despite strength in energy stocks as the price of oil moved higher amid growing worries that the fight between Israel and Iran will escalate.
The S&P/TSX composite index was down 59.03 points at 26,500.82.
U.S. stock markets are closed for the Juneteenth holiday.
The Canadian dollar traded for 72.81 cents US compared with 73.14 cents US on Wednesday.
The August crude oil contract was up US$2.09 at US$75.59 per barrel and the July natural gas contract was up eight cents US at US$4.07 per mmBTU.
The August gold contract was down US$24.80 at US$3,383.30 an ounce and the July copper contract was down seven cents US at US$4.79 a pound.
This report by The Canadian Press was first published June 19, 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
Hamilton Spectator
10 minutes ago
- Hamilton Spectator
Aecon schedules second quarter 2025 financial results release and conference call
TORONTO, June 19, 2025 (GLOBE NEWSWIRE) — Aecon Group Inc. (TSX: ARE) announced today that it intends to release its second quarter 2025 financial results on Thursday, July 31, 2025 after market close, and has scheduled a live webcast and conference call for 9 a.m. (Eastern Time) on Friday, August 1, 2025. A live webcast of the conference call can be accessed using this link and will be available at . Participants can also dial-in to the conference call and pre-register using this link . After registering, an email will be sent, including dial-in details and a unique access code required to join the live call. Please ensure you have registered at least 15 minutes prior to the conference call time. An accompanying presentation of the second quarter 2025 financial results will also be available after market close on July 31, 2025 at . For those unable to attend, a replay will be available within one hour following the live webcast and conference call at the same webcast link above. About Aecon Aecon Group Inc. (TSX: ARE) is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment. Join our online community on X, LinkedIn, Facebook, and Instagram @AeconGroupInc. For further information: Adam Borgatti SVP, Corporate Development and Investor Relations 416-297-2600 ir@ Nicole Court Vice President, Corporate Affairs and Communications 416-297-2600 corpaffairs@
Yahoo
34 minutes ago
- Yahoo
TDSB passes budget for 2025-2026 with plan to eliminate $34.4M deficit
Trustees for the Toronto District School Board (TDSB) have approved a budget for 2025-2026 that includes a plan to balance the board's books over the next two years. The plan includes a number of cost-saving measures to eliminate a $34.4 million deficit, including a pause on issuing new Chromebooks for students in the coming school year in favour of recirculating devices returned by graduating Grade 12 students, a news release from the board said. It also includes a $9.5 million spending cut in operating expenses for central departments of the board that will have "limited impact" on services. Fees will also rise for some continuing education programming, the TDSB said. At a meeting in April, trustees heard the school board was facing a $58-million deficit for 2025-2026, with staff looking at a variety of options to balance the budget. Since then, trustees have passed more than $20 million in cuts, resulting in a current deficit of $34.4 million, a spokesperson for the school board said. One of the cost-cutting options on the table was closing school pools the board doesn't lease out, which would have saved an estimated $12.8 million. However that's not happening after public outcry. Pools and aquatics instructors will continue to be available to students and community members for another year, the TDSB said in a Thursday news release. Board staff are working on privately leasing more pools while also working with the City of Toronto on the use of TDSB pools, the release says. The budget must now be submitted to the Ministry of Education by June 30 for final approval.
Yahoo
38 minutes ago
- Yahoo
Why Tom Lee says the odds favor a stock-market rally after the Fed decision
Happy Fed Day to all who observe, and at least one widely followed analyst says there's potential for market fireworks despite the 98.8% probability (according to futures markets) the central bank won't move interest rates. That analyst is none other than Tom Lee, the head of research at Fundstrat Global Advisors, whose enthusiasm for stocks generally extends to any day ending with the letter 'Y.' 'I'm at my wit's end': My niece paid off her husband's credit card but fell behind on her taxes. How can I help her? 'I prepaid our mom's rent for a year': My sister is a millionaire and never helps our mother. How do I cut her out of her will? Israel-Iran clash delivers a fresh shock to investors. History suggests this is the move to make. I'm 51, earn $129K and have $165K in my 401(k). Can I afford to retire when my husband, 59, draws Social Security at 62? Why Tom Lee says the odds favor a stock-market rally after the Fed decision Lee, like most everyone, isn't expecting the Fed to cut interest rates later on Wednesday. But he does make a notable case for why the market may react positively. 'We believe the Fed will acknowledge that inflation is undershooting their expectations. Recall the Fed has argued that tariff uncertainty causes them to be on hold. But incoming inflation has been soft,' says Lee. The consumer price index rose a scant 0.1% on a monthly basis in May. Import prices were flat. A real-time measure of import prices, updated through data last week, also has shown little pass through from tariffs to end prices. Market-based measures have fallen to the lowest level in a year, he adds. 'So we think Fed will have to acknowledge this. And we know there is a lot of partisan bias in the inflation consumer surveys,' says Lee. 'So markets likely realize Fed will have to relent eventually and return to a dovish bias.' Lee expects the stock market to return to all-tim highs (the S&P 500 was only 3% away anyway) — he said bitcoin is a leading indicator and the cryptocurrency achievved a record last week. He still has a 6,600 target for the S&P 500 by year end. Stock-market futures ES00 NQ00 were flipping between small gains and losses after an 0.8% retreat for the S&P 500 SPX on Tuesday. Oil CL00 edged higher. Key asset performance Last 5d 1m YTD 1y S&P 500 5982.72 -0.93% 0.71% 1.72% 9.03% Nasdaq Composite 19,521.09 -0.98% 1.98% 1.09% 9.29% 10-year Treasury 4.382 -4.50 -22.30 -19.40 15.50 Gold 3396.8 0.62% 2.42% 28.70% 44.90% Oil 72.63 6.34% 18.41% 1.06% -10.09% Data: MarketWatch. Treasury yields change expressed in basis points Need to Know starts early and is updated until the opening bell, but to get it delivered once to your email box. The emailed version will be sent out at about 7:30 a.m. Eastern. At pixel time, the U.S. military still has not joined Israel's fight with Iran, which continued into Wednesday. Iran's supreme leader said the country would not surrender, replying to U.S. President Donald Trump's demand on Tuesday. The Fed decision — and importantly, the dot plot of interest-rate projections — is coming at 2 p.m. Eastern, with Fed Chair Jerome Powell's press conference at 2:30 p.m. Morgan Stanley's economists say they still expecting the dot plot to forecast two rate cuts this year. Weekly jobless claims dipped by 5,000 to 245,000, while housing starts tumbled 9.8% in May to an annual rate of 1.26 million. The Senate passed the stablecoin bill, which creates a regulatory framework for cryptocurrency tokens, and now goes to the House. Goldman ditches ban on SPACs as blank-check firms stage comeback. Jamie Dimon wants workers in the office. So why is he letting JPMorgan's European chief work remotely? The bigger picture from Bulgaria joining the euro Data on the U.S. economy is clearly deteriorating, says Neil Dutta, head of economic research at Renaissance Macro. This chart plots the decline in building material sales, which at a seasonally adjusted annual rate have tumbled 7.7% over the last six months. 'Recall that building material store sales represent an intermediate product that ultimately affects residential investment,' he says. Besides the retail sales report, Dutta also noted the New York Fed's service sector index points on ongoing contraction, industrial production fell for the second time in three months and home builder confidence fell to the lowest level since 2022. Here were the top stock-market tickers on MarketWatch as of 6 a.m. Eastern. Ticker Security name TSLA Tesla NVDA Nvidia GME GameStop PLTR Palantir Technologies AMD Advanced Micro Devices AAPL Apple TSM Taiwan Semiconductor Manufacturing AMZN MLGO MicroAlgo CRCL Circle Internet Group An Italian museum had a crystal-covered chair on display, and the inevitable happened. An 80-year old man tried driving down the famous Spanish Steps in Rome, and it didn't go well. This elderly dog, however, had more success taking on a wild bear. For more market updates plus actionable trade ideas for stocks, options and crypto, . I'm 75 and have a reverse mortgage. Should I pay it off with my $200K savings — and live off Social Security instead? 20 companies in the S&P 500 whose investors have gained the greatest rewards from stock buybacks Israel-Iran conflict poses three challenges for stocks that could slam market by up to 20%, warns RBC 'I'm 68 and my 401(k) has dwindled to $82,000': My husband committed financial infidelity and has $50,000 in credit-card debt. What now? 'It might be another Apple or Microsoft': My wife invested $100K in one stock and it exploded 1,500%. Do we sell?
