Canadian stocks continued to trade positively for the fourth consecutive session on Wednesday, as better-than-expected big tech earnings from the U.S. market boosted investors’ confidence. The S&P/TSX Composite Index rose by 83 points, or 0.4%, to settle at 19,021 — its highest closing level in over a week. Although some metals and mining stocks were affected by lower gold prices, the main Canadian market gauge remained steady despite an increase in domestic inflation.
Top TSX movers & Active Stocks
Stocks of cannabis include Canopy Growth, Tilray Brands, Cronos Group?, and Aurora Cannabis Yesterday saw a sharp rally amid speculations regarding the U.S. Senate cannabis decriminalization bill. Canopy Growth stock surged by more than 17% to $3.93 per Share yesterday, making it the best-performing TSX stock of the day.
Shares Shopify (TSX:SHOP)(NYSE:SHOP) also popped by 12.3% Thursday to $49.66 per share with the help of a tech sector-wide rally, extending its month-to-date gains to nearly 24%. This week, Canadian ecommerce giant announced Its partnership with YouTube. Shopify merchants would be able to integrate their online stores and YouTube channels with their Shopify platforms and sell their products through live streaming, videos, and store tab. SHOP stock still trades with more than 70% losses year-to-date despite its July rally.
Metals and mining shares are like First Quantum Minerals, Wesdome Gold MinesAnd Wheaton Precious Metals These were the worst performing TSX Composite components with a drop of at least 5% on July 20.
Based on their daily trade volume Suncor EnergyCanopy Growth Baytex EnergyAnd Manulife Financial These stocks were the most active on the exchange.
Today’s TSX
Early Thursday morning commodity prices were suffering sharp losses across the board. Similarly, most key global stock indexes — except Japan’s Nikkei — also fell on July 21. These negative indicators lead me to expect TSX stocks, particularly from the energy- and mining sectors, will open sharply lower today. Canadian investors might be interested in the U.S. manufacturing data and weekly jobless claims this morning, even though there are no important domestic economic releases.
Canadian real estate firm is a leader in corporate events Choice Properties REIT Logistics company Mullen Group They are expected to announce today their latest quarterly results.