S&P/TSX Composite Index

TSX up Near 70 Points at Midday as Tech Sector Soars

The Toronto Stock Exchange is up 67 points at midday in choppy trade, boosted by a tech sector that is up 5%.Sentiment is also higher on renewed hopes for a Middle East deal, with U.S. President Trump saying the U.S. blockade on the Strait of Hormuz will be lifted.Energy and utilities are the biggest decliners, down 1.3% and 1.2%, respectively.The focus was on the release of Canadian GDP data this morning, which TD Economics described as a "a disappointing report." According to TD, the surge in first quarter imports was expected to drag on growth, but with residential investment, government spending and non-residential structures investment all posting contractions, there was no room for growth. But, TD said, the wedge between the industry and expenditure measures of GDP, together with the strong flash estimate for April, suggest that growth should bounce back in the second quarter."The disappointing first quarter figure likely overstates the weakness in the economy as net trade remains noisy and materially subtracted from first quarter growth. Domestic demand growth posted a small contraction but has vacillated between growth and small contractions since late 2024. Looking to Q2, some bounce-back should be expected. Nonetheless, the Canadian economy continues to operate well below capacity, posting a contraction in Q4 and no growth in Q1, flirting with a technical recession. This suggests that ample slack remains, providing some offset to the inflationary forces coming from the energy shock. Our view remains that as the economy continues to operate below capacity, and if the inflation shock fades, the Bank of Canada will remain on the sidelines."CIBC said overall this was a "very weak report from most angles" that shows trade uncertainty and tariffs are continuing to hold back growth, while consumers have little ammunition left for spending ahead, and interest-sensitive sectors are lagging. The report missed the BoC's MPR projection for 1.5% growth. But CIBC said the positive momentum implied by the April reading, seeing a 0.4% month over month increase, will still leave policymakers on hold, with growth in Q2 likely to receive a lift as government investment normalizes. "Our base case also assumes progress towards reducing some tariffs (namely aluminum and possibly steel) in the coming months, and if the oil price shock starts to fade over that period as well, GDP will return to sustainable growth for the rest of the year," it added.

TSX Up 140 Pts, Adding to 105 Pts Gained Thursday When It Rose For First Time Since Last Monday's Record Close

Canada's March GDP Falls 0.1%, Misses Expectations; April Seen Rebounding 0.4%

Canadian real gross domestic product edged down 0.1% month over month in March, partially offsetting February's increase of 0.2% and driven by contractions in goods-producing industries, said the country's statistical agency on Friday.March's contraction was worse than a 0.1% month-over-month consensus expansion provided by MUFG.Goods-producing industries contracted 0.8% in March for the fifth decline in the last six months, noted Statistics Canada. The decrease in March was in large part a reflection of lower activity in the mining, quarrying, and oil and natural gas extraction sector, and in the construction sector. Services-producing industries tempered the decline, edging up 0.1% in March. Overall, eight of the 20 industrial sectors contracted in March.Advance information indicates that real GDP increased 0.4% in month over month April, added StatsCan. Increases in mining, quarrying, and oil and gas extraction, manufacturing and transportation, and warehousing were partially offset by decreases in agriculture, forestry, fishing and hunting.Real GDP was unchanged in Q1 quarter over quarter, after declining 0.2% in Q4 2025. Higher imports of goods, particularly gold, were offset by accumulations of business inventories. Decreased business and government capital investment was counterbalanced by higher household spending, as final domestic demand edged 0.1% lower.GDP and Income and Expenditure Accounts measure the production of goods and services in the Canadian economy as well as the incomes arising from this production and expenditure on the production. GDP represents the unduplicated value of goods and services produced during the reference period and are available for domestic consumption, investment or export.

Brief: Canada's Q1 GDP Flat Q/Q

Brief: Statistics Canada Says April Preliminary GDP Up 0.4% M/M

Brief: Canada's March GDP Contracts 0.1% M/M; MUFG Says Consensus Saw 0.1% Growth

Azimut and NorthWest Copper Among Latest TSX Venture Cos To Adopt Semi-Annual Reporting

Nasdaq 100 Futures and S&P Futures Both Up About 0.1%

NorthWest Copper Among Latest TSX Venture Cos To Adopt Semi-Annual Reporting

S&P Futures Up 0.1%

TSX Closer: The Index Closes Higher For The First Time Since Monday's Record Close

The Toronto Stock Exchange closed higher on Thursday, its first winning session since Monday's record close, with the resource-heavy index buoyed by improved commodity prices, a continuing belief among investors that equity market fundamentals are strong, bullish comments from Canada Prime Minister Mark Carney in New York and cautious positivity on the economy from the Bank of Canada.The S&P/TSX Composite Index closeds up 105.65, or 0.3%, to 34,517.70, having lost more than 400 points over the prior two days. Sectors were mixed, with Info Tech up near 2.6% and Base Metals up 2.3%, helped by a higher gold price. In contrast the Battery Metals Index was down 1.15%, Energy eased near 0.5% despite a modest rise in the oil price, and Financial lost 0.8% even as The Canadian Press reported the 'Big Six' banks see reasons for optimism while navigating a 'period of volatility'.Sluggish trade negotiations between Canada and the United States are finally showing faint signs of life as a milestone looms for renewal of their three-way trade deal with Mexico, CBC News reported on Thursday. The minister responsible for Canada-U.S. trade, Dominic LeBlanc, is planning to travel to Washington, D.C., for trade talks, although his spokespeople haven't confirmed a date, the report noted. Although the Canada-U.S.-Mexico Agreement (CUSMA) is due for its first-ever joint review on July 1, LeBlanc has held just one day of in-person talks over the past seven months with his Trump administration counterpart, U.S. Trade Representative Jamieson Greer, he also noted.That report came out as Prime Minister Mark Carney prepared to pitch Canada as an investment hub at New York's Economic Club at lunchtime today.Employing U.S. President Donald Trump's marquee slogan, PM Carney told a New York City business crowd "Canada strong will help make America great again", reported CTV News. It noted the P.M. detailed his economic diversification strategy, and his plans to recalibrate Canada's relationships and reputation. "We're focused on what we can control, and that means weaving a dense web of international partnerships abroad. That's making us a much stronger, more resilient, more independent country," Carney told the business crowd.Meanwhile, the Bank of Canada on Thursday said Canada's financial system has functioned well through a challenging year as households and businesses remain in stable financial condition, and banks have strengthened their capacity to absorb shocks.However, vulnerabilities have increased in some parts of the system, noted the central bank in its annual Financial Stability Report (FSR). Stock and corporate debt valuations have risen and are high relative to historical norms, the central bank said, adding this makes markets more vulnerable to a sharp correction.The Canadian Press is reporting that Canada's major banks say they're cautiously optimistic as their latest earnings beat expectations, with executives confident they're well equipped to handle potential risks in the Canadian economy. The Big Six grew their profits in the second quarter compared with the same three-month period a year ago, while also posting results above analysts' forecasts, the report noted. Five of those; Toronto-Dominion Bank (TD.TO), Royal Bank of Canada (RY.TO), Bank of Nova Scotia (BNS.TO), Bank of Montreal (BMO.TO) and National Bank of Canada (NA.TO) each hiked their quarterly dividend, it also noted.And while executives expressed confidence in their ability to withstand economic challenges ahead, they also acknowledged macroeconomic concerns that could shift their outlooks, according to the report. Those include the U.S.-Iran war that continues to drag on, pushing international oil prices and inflation higher. High unemployment in Canada and ongoing uncertainty over trade with the United States also cloud the outlook, they said.Of commodities, West Texas Intermediate crude oil closed with a small gain, but fell off early highs following reports the U.S. and Iran agreed to extend their ceasefire even as they earlier traded strikes. WTI crude oil for July delivery closed up US$0.22 to settle at $US$88.90 per barrel after earlier touching US$92.52. July Brent oil was down US$0.64 to US$93.65.Gold was higher midafternoon Thursday, rising off its early lows as the dollar and yields fell after reports the United States and Iran have agreed to extend a ceasefire for 60 days, lowering oil prices and easing inflation worries even a key U.S. inflation measure rose in April. Gold for July delivery was up US$52.50 to US$4,4,534.00 per ounce, after earlier touching US$4,395.60.

TSX up 100 Points at Midday With Miners, Info Tech, The Best Performers

The Toronto Stock Exchange is up 100 points midday with most sectors higher.The best performers are miners (+2%) and info tech (+1.7%). Financials and utilities are down 0.9% and 0.4%, respectively.In stocks, Morningstar Canada published a note entitled 'Energy Sector Outlook: Oil Stocks Have Growing Dividends and Room to Run' in which it said supportive economics and increased oil production will keep fueling the energy-sector revival, analysts say. The Morningstar Canada Energy Target Market Exposure Index has risen 32.1% in the year to date, outpacing the 9.8% gain for the Morningstar Canada Index.Higher oil prices will continue to drive revenue for energy companies in the short term, Morningstar said. Supportive government policies and a favorable trade deal could pave the way for the sector's long-term growth.In other news, Canada's financial system has functioned well through a challenging year as households and businesses remain in stable financial condition, and banks have strengthened their capacity to absorb shocks, said Bank of Canada on Thursday. However, vulnerabilities have increased in some parts of the system, the central bank noted in its annual Financial Stability Report (FSR). Stock and corporate debt valuations have risen and are high relative to historical norms. This makes markets more vulnerable to a sharp correction, the BoC added.The issuance of global sovereign debt is also rising, and hedge funds are playing a bigger role in buying that debt, often using borrowed money, BoC said. In normal times, hedge fund activity helps keep markets running smoothly. But if conditions become strained, this activity could amplify stress and disrupt core funding markets, the central bank added. Individually, these and other vulnerabilities look "manageable", but the economic and geopolitical environment has become more volatile. This has made it more likely that a new shock or a combination of shocks could cause several vulnerabilities to crystallize at once. If this were to happen, these vulnerabilities could interact and reinforce each other, the BoC added.A "cascading" series of events could cause a sharp loss of investor confidence and lead to a spike in demand for liquidity or rapid asset sales, the BoC continued, adding that funding markets could come under pressure, and stress could spread more broadly.The FSR is an assessment of how existing vulnerabilities, or pockets of stress, could amplify shocks and ultimately spread across the financial system, the BoC said. New risks, particularly from artificial intelligence (AI) are emerging. While AI is expected to boost productivity and economic growth over time, it's sparking concerns about disruption in some sectors and about overinvestment. AI may also increase the speed, scale and sophistication of cyber attacks, it added.

PM Mark Carney Concludes His Speech; Now Set To Take Part in Q+A

Correction: -- PM Mark Carney Says "A Stronger Canada Is a Better Ally" To the United States

PM Mark Carney Adds Canada Has Made "Specific, Practical" Proposals to the U.S. Administration In Relation To Looming Trade Talks

PM Mark Says "A Stronger Canada Is a Better Ally" To the United States

PM Mark Carney Speech In New York Comes Ahead of Planned Meetings With Business Leaders To Pitch Canadian Investment Benefits

Canada PM Mark Carney Says Due To Tectonic Shifts Across the Globe "We Have To Take Care of Ourselves and We Have To Be True To Ourselves"

PM Mark Carney Starts Address to the Economic Club of New York In French "Because Canada Is a Proudly Bilingual Country"

Canada PM Mark Carney Will Soon Address the Economic Club of New York