TSX Cements Gains for Positive Close

Stocks in Toronto concluded a strong week, with resource stocks pushing higher Friday.

The TSX gained 24.2 points to close the week at 19,346.12. The index leaped 361 points, or 1.9% on the week

The Canadian dollar gained 0.25 cents to 79.96 cents U.S.

Gold stocks stole the show Friday, as B2Gold gained 10 cents, or 1.6%, to $6.35, while Wesdome Gold Mines attached 10 cents, or 1%, to $9.95.

In other resource stocks, Canfor Corp. added $2.10, or 7.1%, to $31.83, while Interfor gained $1.91, or 6%, to $34.02.

Among communications winners, AcuityAd Holdings took on 33 cents, or 2.4%, to $14.12, while Shaw Communications hiked 51 cents, or 1.5%, to $34.97.

Energy, however, got somewhat bruised, as Vermilion Energy slid 36 cents, or 3.9%, to $8.77, while Crescent Point Energy dipped 14 cents, or 2.8%, to $4.86.

In techs, Hut 8 Mining lost 48 cents, or 6%, to … Read more

Canada CPI, Bank Rate Word Due Next Week

Monday

U.S.

Economic Lookahead

Durable goods orders (March)

Core capital goods orders (March)

Featured Earnings

Coca-Cola Company (NYSE:KO) (Q1) EPS projected at 50 cents, compared to 51 cents in the prior-year quarter.

International Business Machines Corporation (NYSE:IBM) (Q2) EPS projected at $1.67, compared to $1.84 in the prior-year quarter.

Prologis Inc. (NYSE:PLD) (Q1) EPS projected at 94 cents, compared to 83 cents in the prior-year quarter.

Canada

Featured Earnings

Bear Creek Mining Corporation (T.BCM) (Q4) EPS projected for loss of three cents, compared to a loss of four cents in the prior-year quarter.

People Corporation (T.PEO) (Q2) EPS projected at six cents, compared to three cents in the prior-year quarter.

PrairieSky Royalty Ltd. (T.PSK) (Q1) EPS projected at seven cents, compared to six cents in the prior-year quarter.

Tuesday

U.S.

Economic Lookahead

Case-Shiller home price index (Feb.)

Consumer confidence index (April)

Homeownership rate (Q1)

Featured Earnings

Johnson & Johnson (NYSE:JNJ) … Read more

Global Stocks Hit Record Highs On Strong Economic Data

Global stocks are at record highs after strong U.S. and Chinese economic data bolstered expectations of a solid global economic recovery from the COVID-19 pandemic.

Government stimulus, a string of strong corporate earnings and signs of economic recovery in countries ahead in COVID-19 vaccinations have helped push stock markets around the world to new highs.

MSCI’s broadest gauge of world stocks edged higher in European trading Friday, up 0.2% to a record high. Europe’s top indexes all opened higher, led by Britain’s FTSE 100, up 0.5% and passing 7,000 points for the first time since February 2020.

U.S. stock futures pointed to a mixed open on Wall Street, with the S&P 500 up 0.1% and NASDAQ futures down 0.1%

Asian markets tracked a path similar to Europe’s. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.5%, with Shanghai shares adding 0.8% and Japan’s Nikkei up 0.1%.

Driving the … Read more