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Hamilton Spectator
3 hours ago
- Business
- Hamilton Spectator
Oil prices help S&P/TSX composite close higher on Tuesday, U.S. markets fall
TORONTO - Canada's main stock index finished higher to cap off trading on Tuesday, benefiting from a rise in oil prices, while U.S. markets moved lower. The S&P/TSX composite index closed up 134.46 points at 27,539.88. 'It's been a mixed day, following a very strong rally over the last three months. What's unique about the TSX in Canada is that it is getting the benefit of higher oil prices today,' said Angelo Kourkafas, a senior global investment strategist at Edward Jones. Kourkafas said oil prices were rising on the news that U.S. President Donald Trump said Monday he is giving Russian President Vladimir Putin 10 to 12 days to stop the killing in Ukraine, shortening a 50-day deadline he had given the Russian leader two weeks ago. He said the move triggered a rally in crude prices, 'boosting the energy sector which has a large representation in the TSX.' The September crude oil contract was up US$2.50 at US$69.21 per barrel. Aside from energy names, other companies that also traded higher on Tuesday included Celestica Inc., which rose after reporting second-quarter earnings Monday and raising its full-year outlook. Shares of the Toronto-based tech firm gained about 17 per cent on the day. Meanwhile, Air Canada shares fell 12.3 per cent during the trading session after reporting its latest results. The airline said it has been shifting capacity toward high-demand international markets as Canadians' appetite for U.S. travel continues to lag. 'Airlines, and Air Canada, have been impacted by what is going on on the trade front and lower traffic with Canadians travelling less to the U.S.,' Kourkafas said. In New York, the Dow Jones industrial average was down 204.57 points at 44,632.99. The S&P 500 index was down 18.91 points at 6,370.86, while the Nasdaq composite was down 80.29 points at 21,098.29. The S&P 500 slipped 0.3 per cent for its first drop after closing at an all-time high in six successive days. The Nasdaq composite shaved 0.4 per cent off its own record. On the trade front, Kourkafas said markets are 'taking a glass half full approach' ahead of the looming Aug. 1 tariff deadline, when a pause on a slew of U.S. tariffs is set to expire. 'It is encouraging that some of the trade policy uncertainty is reduced as we got the EU-U.S. trade agreement, and also with Japan the week before. As it relates to Canada, it seems like negotiations remain challenging, but talks are continuing to find a late breakthrough,' he said. A deal struck by the U.S. with the European Union on Sunday imposes a 15 per cent tariff on most goods imported into the U.S., including European automobiles, and no carveouts for key products like pharmaceuticals and steel. Going forward, Kourkafas said there could be some market volatility, but he expects more clarity to emerge in 2026. 'We've enjoyed over the past month a period of strong returns and very low volatility, so the best of both worlds, which as we know, this unique combination doesn't last forever. So, potentially there are some catalysts for volatility ahead at the same time, continuing to highlight that the broader backdrop remains positive,' he said. 'Especially as we look into 2026 with more clarity, hopefully on trade, lower interest rates by the Fed and corporate profits that continue to grow.' The Canadian dollar traded for 72.62 cents US compared with 72.87 cents US on Monday. The August gold contract was up US$14 at US$3,324 an ounce. — With files from The Associated Press This report by The Canadian Press was first published July 29, 2025. Companies in this story: (TSX:GSPTSE, TSX:CADUSD, TSX: AC, TSX: CLS)
CTV News
4 days ago
- Business
- CTV News
All in on ETFs? Experts share how to diversify your portfolio — without overdoing it
TORONTO — Exchange-traded funds have exploded in popularity, and so have investment strategies based only on ETFs, but some investors might be wondering whether that could lead to their portfolio being too diversified. Financial experts say allocating an entire portfolio to ETFs can be a viable strategy, but it's important for investors to know what holdings are in the funds they're buying. When looking at portfolio diversification for ETF-focused investors, Jonathan Rivard, general principal at Edward Jones, said it's important to consider the individual's time horizon and risk appetite. 'You could absolutely be 100 per cent invested in ETFs. But you want to know what's in the ETF and what the allocation looks like. Some ETFs will be balanced; they'll have a mix of stocks and bonds in them. Some will be sector products,' Rivard said. 'The important thing comes down to understanding what does this basket hold? And if I own multiple ETFs, what does it look like across multiple ETFs in terms of asset allocation?' Prerna Mathews, Mackenzie Investments' vice-president of ETF product strategy, said there are a few key points to keep in mind regarding diversification, notably, it is important to think beyond just diversifying by geography. 'So (if) you're starting with the core Canadian, U.S., international exposure, don't stop there. Think about how fixed income plays a role in your portfolio, real assets, there are thematic products, and there are alternative ETFs. There are a lot of different drivers of return that can be added to a portfolio available in ETF form,' she said. Another consideration is buying ETFs with different investment styles, she said, which may include combining traditional index ETFs with others that are actively managed or have low volatility. Time horizon is also an important consideration, where those with a longer investment horizon may want to focus on growth, she said, taking on more risk with higher equity exposure. Regarding fixed income, Mathews said to be aware of the differences between short- and longer-term yields, adding that most investors will likely not have exposure to every duration of fixed income and should know the relevant trade-offs. 'In some cases, you can get a very attractive yield at the short end of the curve without taking on significant risk as you would on the long end,' she said. 'Really understanding the trade-off there and likely having some short-term fixed income in the portfolio would be viable. But aggregate bonds over a 30-year time period are generally a good place to be.' Mathews said there is also a growing number of investors opting for an asset allocation ETF. She said this type of ETF is essentially eight to 12 ETFs 'all packaged up in one,' and has served as a core holding for those looking for a 'set it and forget it' investment. Despite the benefits of diversification, Mathews said there are dangers to being overly diversified. This might occur for someone investing in Canadian equities through an ETF but also buying into an asset allocation ETF, Mathews said. In that case, the investor may end up with more Canadian equity exposure than anticipated. Similarly, with the TSX financials sector representing around 30 per cent of the overall index, an investor with a TSX-focused ETF and a Canadian banks-focused ETF could end up with too much exposure to Canadian bank stocks. 'There is a risk of having too much product in your portfolio. Sometimes that can creep up on us when we're not doing a full look through to what each ETF might be investing in,' she said. This report by The Canadian Press was first published July 24, 2025. Daniel Johnson, The Canadian Press
Business Times
4 days ago
- Business
- Business Times
US: S&P 500 closes at 5th straight record
[NEW YORK] The S&P 500 and Nasdaq finished at fresh all-time records on Friday (Jul 25) amid optimism over US trade deals, concluding a winning week on a positive note. Markets stayed hopeful that US President Donald Trump's trade deal with Japan this week will be followed by accords with other major trade partners, averting major tariffs due at the White House's Aug 1 deadline. Investors have also greeted generally benign data that suggest the US economy is on solid ground, said Angelo Kourkafas of Edward Jones. 'That might change in the months ahead, but for now, we have an economy that is holding up,' Kourkafas said. The broad-based S&P 500 finished at 6,388.64, up 0.4 per cent, its fifth straight closing record. The tech-rich Nasdaq Composite Index rose 0.2 per cent to 21,108.32, closing at a third straight record, while the Dow Jones Industrial Average climbed 0.5 per cent to 44,901.92. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Besides trade negotiations, investors are looking ahead to a heavy earnings calendar next week, with Apple, Amazon and other large tech companies reporting results. Those are the market's largest companies, 'so any hiccups there will have an implication for the broader market,' Kourkafas said. Among individual companies, Intel dropped 8.5 per cent after reporting a US$2.9 billion loss as it announced further cost-cutting initiatives. The company said it has cut about 15 per cent of its workforce. But Deckers Outdoor surged 11.4 per cent after reporting better than expected results. Revenues at the footwear retailer jumped 16.9 per cent to US$964.5 million. AFP
RTHK
4 days ago
- Business
- RTHK
US stocks see more all-time highs on US trade deals
US stocks see more all-time highs on US trade deals Wall Street is also looking ahead to a heavy earnings calendar next week. Photo: Reuters The S&P 500 and Nasdaq finished at fresh all-time records on Friday amid optimism over US trade deals, concluding a winning week on a positive note. Markets stayed hopeful that US President Donald Trump's trade deal with Japan this week will be followed by accords with other major trading partners, averting major tariffs due at the White House's August 1 deadline. Investors have also greeted generally benign data that suggest the US economy is on solid ground, said Angelo Kourkafas of Edward Jones. "That might change in the months ahead, but for now, we have an economy that is holding up," Kourkafas said. The S&P 500 finished at 6,388, up 0.4 percent, its fifth straight closing record. The Nasdaq rose 0.2 percent to 21,108, closing at a third straight record, while the Dow Jones climbed 0.5 percent to 44,901. Besides trade negotiations, investors are looking ahead to a heavy earnings calendar next week, with Apple, Amazon and other large tech companies reporting results. Those are the market's largest companies, "so any hiccups there will have an implication for the broader market," Kourkafas said. Among individual companies, Intel dropped 8.5 percent after reporting a US$2.9 billion loss as it announced further cost-cutting initiatives. The company said it has cut about 15 percent of its workforce. But Deckers Outdoor surged 11.4 percent after reporting better than expected results. Revenues at the footwear retailer jumped 16.9 percent to US$964.5 million. (AFP)
Reuters
4 days ago
- Business
- Reuters
TSX adds to weekly gains as technology shares climb
July 25 (Reuters) - Canada's main stock index rose to a record high on Friday, with technology shares leading gains as investors turned attention to key events next week, including a Bank of Canada policy decision. The S&P/TSX Composite Index (.GSPTSE), opens new tab ended up 122.09 points, or 0.5%, at 27,494.35, eclipsing Wednesday's record closing high. For the week, the index was up 0.7%. The move has been supported by trade optimism "as negotiations have progressed on the U.S. side and also corporate profits that are coming in pretty strong," said Angelo Kourkafas, senior global investment strategist at Edward Jones. Policy decisions are due from both the BoC and the Federal Reserve on Wednesday, while an August 1 deadline looms for Canada to reach a trade deal with the United States. "That summer calm may be tested," Kourkafas said. "We are seeing some signs of complacency, which raise the risk of near-term volatility, but fundamentals remain supportive." The Canadian central bank will hold its overnight interest rate steady at 2.75% for the third consecutive meeting, thanks to a recent rise in inflation and a fall in unemployment, according to a Reuters poll of economists that still found many expect at least two more cuts this year. The technology sector (.SPTTTK), opens new tab rose 1.8%, boosted by a 4.7% gain for the shares of Lightspeed Commerce ( opens new tab, which is due to release earnings next Thursday. Shares of e-commerce company Shopify ( opens new tab added 2.5%. Industrials were up 0.7% as railroad shares notched gains and heavily weighted financials ended 0.5% higher. Energy was a drag, dipping 0.5%, as the price of oil settled 1.3% lower at $65.16 a barrel.
