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Canada’s TSX composite index jumped on Friday, April 23, as US stocks rebounded after the release of new home sales data and mega cap stocks improved in the hopes of high earnings reports in the upcoming weeks. The rising employment numbers for Canada and the US, resumption of factories, rising commodities process and economic projections pumped hope in the investors. As a results, TSX Composite Index was up by 0.37% settled at 19,102.33.
1-Year S&P/TSX Composite Daily Price Chart (as on April 26, 2021). Source: EODHD/Others (Thomson Reuters)
The other indices showed upward trend as well, with TSX Venture Index climbing by 1.05% to settle at 930.63 and the S&P/TSX 60 showing an upside of 0.35% to 1,136.40.
Movers and Laggards on TSX Composite
Source: EODHD/Others (Thomson Reuters)
Wall Street Update
After manufacturing reports and new home sales underscored a thriving economy, US stocks surged on Friday. The Dow Jones Industrial Average increased by 0.67% to 34,043.49, while the Nasdaq Composite added 1.44% to 14,016.81. The S&P 500 rose 1.09% to 4,180.17.
The first-quarter GDP data for the United States is expected later this week, with hopes that activity will have risen to pre-pandemic levels.
Active Volume Leaders
The most heavily traded stock by volume on Friday were Tetra Bio-Pharma Inc, with 14.89 million shares, followed by Enbridge Inc with 8.37 million shares and Suncor Energy Inc with 7.60 million shares.
Commodity Update
Gold futures declined to US$ 1,777.00 or 0.24%.
Crude has gained some strength, as Brent Oil improved by 1.09% to US$ 66.11/bbl, and WTI Crude Oil increased by 1.16% to US$ 62.14/bbl.
Currency News
On Friday, the Canadian Dollar increased some grounds against the US greenback. At the close, USD/CAD traded 0.23% lower at 1.2475.
The US Dollar Index (DXY) was down by 0.52% at 90.86 on Friday.
Money Market:
The US 10-year bond recovered after three days correction and closed at 1.5595%, up 1.16% on April 23.
Canada 10-year bond was up by 0.20% at 1.517% on Friday.
