Latest news with #SPTSX
Reuters
a day ago
- Business
- Reuters
TSX rises to record high as US inflation data supports Fed rate-cut bets
Aug 12 (Reuters) - Canada's main stock index posted on Tuesday a new record high, with financial shares participating in broad-based gains as U.S. inflation data reinforced expectations that the Federal Reserve would cut interest rates in September. The S&P/TSX composite index (.GSPTSE), opens new tab ended up 146.03 points, or 0.5%, at 27,921.26, edging past the record closing high it posted last Wednesday. U.S. consumer prices increased marginally in July, though rising costs for services such as airline fares and some tariff-sensitive goods like household furniture caused a measure of underlying inflation to post its largest gain in six months. "Inflation is on the rise, but it didn't increase as much as some people feared," said Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. "In the short term, markets will likely embrace these numbers because they should allow the Fed to focus on labor-market weakness and keep a September rate cut on the table." Canada sends about 75% of its exports to the United States, much of which are exempt from U.S. tariffs under a continental trade pact, so its economy could benefit if the Fed moves to stimulate growth. The heavily weighted financials sector (.SPTTFS), opens new tab rose 0.7%, with shares of Brookfield Corp ( opens new tab up 1.9%. Real estate was up 1.1%, while the materials group (.GSPTTMT), opens new tab, which includes metal mining shares, added 0.9% as gold and copper prices moved higher. Altus Group opens new tab is exploring a potential sale after receiving inbound acquisition interest, two people familiar with the matter said. Shares of the software and data analytics provider focused on the real estate industry jumped 9.5%xxx. Nine of 10 major sectors ended higher. The exception was utilities, which lost 0.1%. Gildan Activewear Inc ( opens new tab shares fell 3.7% after a report that the apparel manufacturer is nearing a deal to acquire Hanesbrands (HBI.N), opens new tab.
Reuters
2 days ago
- Business
- Reuters
TSX futures rise as US-China truce extension eases tariff jitters
Aug 12 (Reuters) - Futures tracking Canada's main stock index climbed on Tuesday as commodity prices firmed following the U.S.–China trade truce, while attention turned to the much-awaited U.S. inflation data for insight into the Federal Reserve's rate-cut trajectory. Futures on the S&P/TSX index (.SXFcv1), opens new tab rose 0.24% by 05:34 a.m. ET (0934 GMT). The move follows modest gains on Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE), opens new tab in the previous session. U.S. President Donald Trump extended a tariff truce with China to November 10, averting triple-digit duties on Chinese goods and allowing U.S. retailers to stock up for the critical year-end holiday season at lower tariff rates. Oil prices nudged up as the latest deadline extension eased demand concerns in the world's two largest oil consumers. Energy and mining stocks comprise a significant portion of the Canadian benchmark index, and rising demand along with easing tariff fears benefits domestic markets. Deadline extension also pushed up copper prices in Shanghai and London, while gold prices rose ahead of U.S. consumer price inflation data. U.S. inflation data, due at 8:30 a.m. ET, could allow investors to gauge the impact of tariffs on price pressures and recalibrate bets on Fed rate cuts for the rest of the year. Economists polled by Reuters expect an uptick in annual inflation. According to the CME Group's FedWatch tool, odds of a September rate cut stand at 84.5%. In other news, China announced a preliminary anti-dumping duty on Canadian canola imports, a fresh escalation in a year-long trade dispute that began with Ottawa's imposition of tariffs on Chinese electric vehicle imports last August. Apparel manufacturer Gildan Activewear ( opens new tab is nearing a $5 billion deal to acquire Hanesbrands (HBI.N), opens new tab, including debt, the Financial Times reported. FOR CANADIAN MARKETS NEWS, CLICK ON CODES: TSX market report Canadian dollar and bonds report CA/ Reuters global stocks poll for Canada , Canadian markets directory ($1 = 1.3788 Canadian dollars)
Reuters
3 days ago
- Business
- Reuters
TSX steadies as tech stocks rise amid geopolitical and trade uncertainties
Aug 11 (Reuters) - Canada's main stock index opened higher on Monday, led by technology shares, as investors looked past uncertainties surrounding upcoming U.S.-Russia talks, a China tariff deadline and key U.S. inflation data due later this week. At 9:50 a.m. ET (1350 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE), opens new tab was up 0.19% at 27,810.13 points. The technology index (.SPTTTK), opens new tab led the sectoral gains, rising about 2%, with Constellation Software ( opens new tab jumping 4.6% following its second-quarter results late on Friday. Shopify ( opens new tab also lifted the sub-index, gaining 1.5% on the day. The e-commerce firm once again became Canada's most valuable publicly traded company last week, surpassing the Royal Bank of Canada, following upbeat quarterly results. Overall gains were contained by falling materials index (.GSPTTMT), opens new tab, tracking an over 1% decline in gold prices. "Investors have mostly started to look through some of the geopolitical focus more on real economic indicators and earnings," said Josh Sheluk, portfolio manager at Verecan Capital Management, but cautioned about the risk of sudden reactions to unexpected events. Geopolitics and trade tensions are expected to dominate this week, with the scheduled high-stakes meeting between U.S. President Donald Trump and Russian leader Vladimir Putin on Friday to discuss ending the war in Ukraine. The U.S. tariff deadline on China expires on Tuesday, with hopes for another extension to avoid triple-digit percentage import levies. Tuesday's U.S. July consumer price index report will also be on the radar, which could help investors gauge the impact of Trump tariffs on inflation and may influence expectations for a September Federal Reserve rate cut. Canada is poised for a data-light week, with Friday's June wholesale trade and manufacturing sales figures to be the only notable indicators. Barrick Mining ( opens new tab slipped 3.7% after the second-quarter results failed to impress investors, despite it surpassing profit expectations.
CTV News
30-07-2025
- Business
- CTV News
S&P/TSX composite falls nearly 170 points, U.S. markets were mixed
This site can't be reached The webpage at might be temporarily down or it may have moved permanently to a new web address.
CTV News
24-07-2025
- Business
- CTV News
Gold a bright spot for TSX as Canadian index outperforms S&P 500
The TSX ticker is shown in Toronto on May 10, 2013. THE CANADIAN PRESS/Frank Gunn Gold and precious metals have been a bright spot this year, helping the S&P/TSX composite index outperform the S&P 500, with fund managers saying there could still be time for retail investors to get in on the action. 'In Canada, gold has been the huge mover, and I think if you break apart the index, gold is now at 12 per cent of our index, and that has been the huge winner,' said John Zechner, chairman and founder of J. Zechner Associates. 'That to me is the single most important reason why Canada has played such catch-up and has actually done better than the S&P 500, certainly this year so far.' The TSX was up roughly 11 per cent year-to-date, as of Wednesday afternoon, while the S&P 500 was up about eight per cent, according to LSEG Data & Analytics. Meanwhile, the price of gold has risen about 30 per cent over the course of the year so far, with the August gold contract hovering around US$3,400 an ounce. Dennis da Silva, senior portfolio manager at Middlefield, agreed that the gold sector is 'the largest contributor' in driving the TSX higher. 'If you look at the S&P/TSX global gold index, that's up 40 per cent year-to-date. So if you tie that into the TSX, I would say about 30 per cent of the index's return is driven by gold and silver names or precious metals in general,' he said in an interview last week. In contrast, U.S. markets have been primarily driven by large-cap technology companies in recent years that 'pushed forward that U.S. exceptionalism story,' said Chris McHaney, head of investment management and strategy at Global X Investments Canada. 'I won't say it's run out of steam, but it has started to look like some of those drivers are starting to slow down in terms of the amount of growth that's being provided to the U.S. market,' he said. McHaney noted the performance of the so-called magnificent seven group of stocks has been split this year. The magnificent seven is a group of large-cap U.S. tech stocks that have a major influence on equity markets. The list includes Alphabet, Amazon, Meta Platforms, Microsoft, Nvidia and Tesla. For example, Tesla shares are down nearly 20 per cent year-to-date; meanwhile, Alphabet shares are flat. On the flip side, Nvidia and Microsoft shares are up roughly 27 per cent and 20 per cent, respectively, since the start of the year. The mixed picture has helped Canada's more metal-focused index gain, said McHaney. 'It really is more of a story of gold has been on fire and in Canada, we just have more exposure to that,' he said. According to da Silva, there are a few reasons why gold prices have risen, one being that the commodity benefited from demand for safe haven assets, particularly as the global trade dispute flared up. Stock markets have been volatile this year, particularly in March and April, when U.S. President Donald Trump started rolling out tariffs on countries around the world, only to delay many. The uncertainty over how the global economy and company profits would be impacted by changing trade policies has driven investors to safe haven assets like gold. McHaney said there are a few factors that influence the price of gold — government deficits around the world, inflation concerns and trade uncertainty tend to be positive ones — but it can be difficult to assess which is driving price moves at a given time. Central banks around the world were also buying more of the key commodity as another source of reserve currency, da Silva said. He noted this trend became more common after the U.S. and European Union froze Russian assets after it invaded Ukraine. 'I think that was kind of a wake-up call that your assets are not safe. They can be frozen, and that caused countries to re-evaluate how they hold foreign reserves. I think at that point that's when we started to see pretty active buying,' da Silva said. While McHaney said it is difficult to determine whether the TSX will continue to outperform the S&P 500, he said he also doesn't think retail investors have missed the boat in terms of investing in gold specifically. 'I think some of those drivers that have been working well for Canada are not necessarily going away tomorrow either. There could be a psychological element of maybe 'I missed that performance, I'll just stay where I am,'' he said. 'We think gold itself might not keep rising in value, but it just has to stay kind of where it is now for the gold equities to continue to do very strongly.' This report by The Canadian Press was first published July 24, 2025. Daniel Johnson, The Canadian Press
