S&P/TSX Composite

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

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

Market Chatter: It's Crunch Time For Canada's Trade Deal With the U.S. and Mexico

Sluggish trade negotiations between Canada and the U.S. are finally showing faint signs of life as a milestone looms for renewal of their three-way trade deal with Mexico, Mike Crawley is reporting for Canada's CBC News 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, Crawley 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.The slow pace of negotiations, along with the way U.S. President Donald Trump's tariff regime has punched holes in the free-trade deal, have combined to raise doubts about the fate of an agreement that is crucial to the Canadian economy, Crawley said.CUSMA covers roughly $1.3 trillion in annual Canada-U.S. trade in goods and services and currently shields a large swathe of Canadian exports from Trump's tariffs. According to the text of the agreement, the three countries are to notify each other of changes they want made by next Monday, one month ahead of the formal review, which comes six years after the sweeping trade deal took effect, Crawley noted.This comes as CBC TV notes PM Mark Carney will pitch Canada as an investment hub at New York's Economic Club today. Carney will outline the federal government's new economic strategy ahead of the CUSMA review, it says.(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

PM Mark Carney Will Outline Canada Federal Govt's New Economic Strategy Ahead of CUSMA Review, says CBC TV