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Hamilton Spectator
a day ago
- Business
- Hamilton Spectator
S&P/TSX composite up as energy stocks rise, U.S. markets end higher
TORONTO - Energy stocks rode a jump in oil prices Monday to push Canada's main stock index to a record close as it kicked off a new month. The S&P/TSX composite index was up 213.91 points at 26,388.96, its highest-ever figure at day's end. In New York, the Dow Jones industrial average rose 35.41 points to 42,305.48. The S&P 500 index inched up 24.25 points to 5,935.94, while the Nasdaq composite increased 128.85 points to 19,242.61. The Canadian dollar traded for 72.96 cents US compared with 72.68 cents US on Friday. The July crude oil contract was up US$1.73 at US$62.52 per barrel and the July natural gas contract was up 24 cents US at US$3.69 per mmBTU. The August gold contract was up US$81.80 at US$3,397.20 an ounce and the July copper contract was up 18 cents US at US$4.86 a pound. This report by The Canadian Press was first published June 2, 2025. Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
India Today
2 days ago
- Business
- India Today
Sensex, Nifty open lower as IT, metal stocks drag market despite good GDP data
Benchmark stock market indices opened lower on Monday, dragged by a decline in Reliance Industries (RIL) stock, along with IT and metal sector S&P BSE Sensex declined 723 points to 80,728.03, while the NSE Nifty50 lost 191 points to 24,559.95 as of 9:25 VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that the market structure favours continuation of the ongoing consolidation "There are global headwinds like renewed tariff concerns that will restrain a breakout rally. At the same time there are domestic tailwinds that will support the market at lower levels. President Trump's 50% tariffs on steel and aluminium is a clear message that the tariff and trade scenario will continue to be uncertain and turbulent. This headwind will impact markets," he Unilever emerged as the top performer in early trading, gaining 1.43%, followed by Adani Ports and Special Economic Zone which advanced by 0.84%. Mahindra & Mahindra showed resilience with a 0.56% uptick, while IndusInd Bank and Nestle India posted gains of 0.51% and 0.43% Bank faced the steepest decline, dropping 1.71% in opening trades. HCL Technologies was under significant pressure, falling 1.65%, while Infosys retreated by 1.45%. Reliance Industries slipped 1.43%, and Bajaj Finance rounded out the top five losers with a decline of 1.41%.advertisementNifty Midcap100 posted a marginal gain of 0.01% while Nifty Smallcap100 declined by 0.09%. The India VIX surged by 5.86%, indicating increased volatility in early indices displayed a mixed performance with both gains and losses across various segments. On the positive side, Nifty PSU Bank emerged as the top gainer with a rise of 1.45%, followed by Nifty FMCG advancing 0.50%, Nifty Realty climbing 0.25%, and Nifty Financial Services posting a modest gain of 0.83%.However, several sectors opened in negative territory with Nifty IT facing the steepest decline of 1.40%, followed by Nifty Metal dropping 1.21% and Nifty Private Bank falling 0.66%. Other notable losers included Nifty Consumer Durables down 0.83%, Nifty Pharma retreating 0.61%, Nifty Oil & Gas declining 0.61%, Nifty Media slipping 0.55%, Nifty Auto falling 0.46%, and Nifty Healthcare Index dropping marginally by 0.15%.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch
Business Insider
3 days ago
- Business
- Business Insider
3 Economic Events That Could Affect Your Portfolio This Week, June 2-6, 2025
Here are three key economic events that could affect your portfolio this week. For a full listing of additional economic reports, check out the TipRanks Economic Calendar. Confident Investing Starts Here: » May's S&P Global Manufacturing PMI – Monday, 06/2 – This report measures business activity in the manufacturing sector, a critical component of U.S. GDP. As a leading economic indicator, this index provides timely insight into current and future economic conditions. Investors closely monitor this data for signs of strength or weakness in industrial output, which can influence corporate earnings, inflation trends, and Fed policy expectations. » May's S&P Global Services PMI – Wednesday, 06/4 – This report gauges activity in the services sector, which accounts for more than two-thirds of the U.S. economy. This index is closely watched as a bellwether of broader economic momentum. Because it reflects both consumer and business sentiment, movements in the Services PMI often precede shifts in overall economic performance. » May's Nonfarm Payrolls and Unemployment Rate – Friday, 06/06 – The Nonfarm Payrolls and Unemployment reports present the number of new jobs created during the previous month, along with the percentage of people actively seeking employment in the previous month. These reports are two of the most important economic indicators, as the shift in the number of positions since it is strongly associated with the overall health of the economy. One of the Federal Reserve's mandates is full employment, and it considers labor market changes when determining its policy decisions.
Economic Times
4 days ago
- Business
- Economic Times
S&P 500 ends near flat but posts biggest monthly percentage gain since November 2023
The S&P 500 concluded a turbulent session with minimal change as President Trump's remarks on China caused market fluctuations. Despite initial losses triggered by trade concerns, positive earnings and inflation data contributed to the S&P 500's rebound, achieving its largest monthly gain since November 2023. Investors are closely monitoring tariff developments and anticipating potential Federal Reserve interest rate cuts. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads NEW YORK - The S&P 500 ended a volatile session little changed on Friday as U.S. President Donald Trump slammed China before sounding upbeat about reaching a trade deal , but the benchmark index tallied its biggest monthly increase since November Nasdaq also registered its biggest monthly percentage gain since November was a choppy month for stocks as Trump's erratic trade policies kept investors on edge, but his softening tariff stance, along with upbeat earnings and tame inflation data, helped the S&P 500 rebound from its April Friday, all three major stock indexes opened lower after Trumpaccused China on his Truth Social platform of breaching a trade agreement with the U.S. and issued a new veiled threat to get tougher with the market pared losses as Trump said on Friday afternoon he will speak to China's President Xi Jinping and hopefully work out their differences on trade and said the constant stream of tariff news is "don't know how to react to tariff" news at this point, said Jake Dollarhide, CEO of Longbow Asset Management in Tulsa, Oklahoma. "The news cycle is maddening."The Dow Jones Industrial Average rose 54.34 points, or 0.13%, to 42,270.07. The S&P 500 lost 0.48 points, or 0.01%, at 5,911.69 and the Nasdaq Composite fell 62.11 points, or 0.32%, to 19, S&P 500 also finished Friday with a weekly gain that lifted it less than 4% from its February all-time high. The benchmark index rose about 6.2% in May, while the Nasdaq surged 9.6% for the month."February, March and April was one of the worst three-month periods since COVID, so we needed some gains," Dollarhide the effective U.S. tariff on imports was 2% to 3% before Trump took office, it stands at about 15%, according to Oxford Research estimates. This would have been lowered to about 6% by a trade court ruling, but an appeals court's emergency stay has kept the higher rate in place for on Friday also digested data showing U.S. consumer spending increased 2.1% year-on-year in April after advancing 2.3% in March. The Federal Reserve tracks the PCE price measures for its 2% inflation maintained bets that the U.S. central bank would cut its target for short-term borrowing costs in the earnings front, shares of Ulta Beauty jumped 11.8% after the cosmetics retailer raised its annual profit forecast after beating quarterly issues outnumbered advancers by a 1.14-to-1 ratio on the NYSE. There were 94 new highs and 62 new lows on the the Nasdaq, 1,849 stocks rose and 2,651 fell as declining issues outnumbered advancers by a 1.43-to-1 on U.S. exchanges was 19.34 billion shares, compared with the roughly 18 billion average for the full session over the last 20 trading days.
Mint
4 days ago
- Business
- Mint
TSX posts biggest monthly gain since November as political risk potentially peaks
TSX ends down 0.1% at 26,175.05 For the month, the index gains 5.4% First-quarter GDP increases 2.2% May 30 - Canada's main stock index edged lower on Friday as energy and metal mining shares lost ground, but the index still posted its biggest monthly advance since November, helped by easing global trade tensions. The Toronto Stock Exchange's S&P/TSX composite index ended down 35.51 points, or 0.1%, at 26,175.05, its second straight day of declines after posting a record closing high on Wednesday. For May, the index was up 5.4%. "I wouldn't be surprised to see some consolidation after a big run, but intermediate-term the path of least resistance is up," said Joseph Abramson, co-chief investment officer at Northland Wealth Management. "I think that political risk has peaked in terms of tariffs." The U.S. has suspended in recent weeks some of the sweeping tariffs it has imposed on goods from other countries, while Canada's economy has fared better during the first few months of the global trade war than some economists had expected. Canadian gross domestic product increased at an annualized rate of 2.2% in the first quarter, beating estimates for a gain of 1.7%. The energy sector fell 1.8% on Friday as the price of oil settled 0.25% lower at $60.79 a barrel and after oil sands company MEG Energy said it evacuated all nonessential workers from its Christina Lake production facility in northern Alberta due to wildfires burning in the area. The company's shares ended 2.8% lower. The materials group, which includes metal mining shares, also lost ground as the price of gold dipped. Heavily weighted financials added 0.2%, and were up 1.3% for the week in which Canada's biggest banks reported quarterly earnings. This article was generated from an automated news agency feed without modifications to text.
