TSX Ends On Strong Note On Optimism About Interest Rates

RTTNews | hace 752

(RTTNews) - The Canadian market ended on a buoyant note on Friday with investors picking up stocks amid rising optimism the Federal Reserve is done with interest rate hikes.

The mood remained bullish despite Fed Chair Jerome Powell calling speculation about interest rate cuts "premature" during remarks at Spelman College today.

Buying was so widespread that all the sectoral indices in the Canadian market moved higher. However, energy and consumer staples sectors, and to an extent - the financials sector - were a bit subdued.

The benchmark S&P/TSX Composite Index ended with a strong gain of 216.58 points or 1.07% at 20,452.87, the highest close since September 18.

The Health Care Capped Index climbed 3.42%. Tilray Inc (TLRY.TO) surged 6.2%. Sienna Senior Living (SIA.TO), Bausch Health Companies (BHC.TO) and Chartwell Retirement Residences (CSH.UN.TO) gained 2.1 to 3%.

The Communications Capped Index surged 2.79%. Quebecor Inc (QBR.B.TO), Rogers Communications (RCI.B.TO), Cogeco Communications (CCA.TO) and Telus Corp (T.TO) gained 2.8 to 3.3%, while BCE Inc (BCE.TO) ended 1.8% up.

The Real Estate Capped Index gained 2.24%, the Industrials Capped Index advanced 2.07%, and the Utilities Index climbed 2.01%. The indices tracking the performances of stocks from materials, consumer discretionary and technology sectors gained 1.67%, 1.62% and 1.24%, respectively.

Bank of Montreal (BMO.TO) gained about 2%. The bank reported fourth-quarter earnings of C$1.49 billion, or C$2.06 per share, compared to C$4.41 billion, or C$6.51 per share a year earlier. Excluding items, adjusted earnings were C$2.02 billion, or C$2.81 per share, compared to C$2.06 billion, or C$3.04 per share, in the previous year.

National Bank of Canada (NA.TO) climbed nearly 5% after reporting fourth-quarter net income of $768 million, up 4% from $738 million in the fourth quarter of 2022.

Data from Statistics Canada showed employment in Canada increased by 24,900 jobs in November, following an addition of 17,500 jobs in the previous month.

Meanwhile, the unemployment rate in Canada incrased to 5.8% in November, up from 5.7% in the previous month.

Average hourly earnings for permanent employees in Canada rose by 5% year-on-year to reach $35.16 in November.

Canada's manufacturing activity contracted in November, data from S&P Global showed. The S&P Global Canada Manufacturing PMI contraction accelerated to 47.7 in November from 48.6 in the previous month, slowing down for the seventh consecutive month.

U.S. Consumer Confidence Deteriorates For Fifth Straight Month In December

Consumer confidence in the U.S. deteriorated for the fifth consecutive month in December, according to a report released by the Conference Board on Tuesday. The Conference Board said its consumer confidence index slid to 89.1 in December from an upwardly revised 92.9 in November.

RTTNews | hace 1h 6min

U.S. Industrial Production Rises 0.2% In November, Slightly More Than Expected

A report released by the Federal Reserve on Tuesday showed industrial production in the U.S. increased by slightly more than expected in the month of November. The Fed said industrial production rose by 0.2 percent in November after edging down by 0.1 percent in October. Economists had expected industrial production to inch up by 0.1 percent.

RTTNews | hace 1h 10min

U.S. Economy Grows Much More Than Expected In Q3

A report released by the Commerce Department on Tuesday showed the U.S. economy grew by much more than expected in the third quarter of 2025. The Commerce Department said real gross domestic product spiked by 4.3 percent in the third quarter after surging by 3.8 percent in the second quarter. Economists had expected GDP to jump by 3.3 percent.

RTTNews | hace 1h 31min

U.S. Durable Goods Orders Plunge 2.2% In October, More Than Expected

Reflecting a steep drop in orders for transportation equipment, the Commerce Department released a report on Tuesday showing new orders for U.S. manufactured durable goods fell by more than expected in the month of October. The report said durable goods orders tumbled by 2.2 percent in October after climbing by an upwardly revised 0.7 percent in September.

RTTNews | hace 1h 45min

U.S. Industrial Production Rises Slightly More Than Expected In November

A report released by the Federal Reserve on Tuesday showed industrial production in the U.S. increased by slightly more than expected in the month of November.

RTTNews | hace 2h 4min

Gold Rises To Fresh Record High On Safe-haven Buying

Gold prices surged to fresh record highs Tuesday morning on safe-haven buying amid escalating US-Venezuela tensions, and somewhat fading possibility of any quick end to the Russia-Ukraine war. A weak dollar contributed as well to the yellow metal's rise.

RTTNews | hace 2h 28min

TSX May Climb To Fresh Record Highs

Canadian shares look set to extend recent gains, and the benchmark S&P/TSX Composite is seen climbing to new highs Wednesday morning as metal stocks may see another round of buying, tracking firm precious metal prices.

RTTNews | hace 2h 47min

U.S. Gross Domestic Product Spikes Much More Than Expected In Q3

A report released by the Commerce Department on Tuesday showed the U.S. economy grew by much more than expected in the third quarter of 2025.

RTTNews | hace 2h 50min

EURUSD	1.17725	GBPUSD	1.34898	AUDUSD	0.6685
USDJPY	156.242	USDCAD	1.37192	USDCHF	0.79003