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The Canadian equity benchmark S&P/TSX Composite fell on Friday, May 21, amid lingering inflation concerns. The TSX index closed with marginal loss, failing to set another record high, despite the resurgence energy sector after three days of falling crude oil prices. Most sectors showed a downturn, except financial and energy, which gained 0.27% and 0.12% respectively. At the closing S&P/TSX Composite traded 0.08% or 15.65 points lower at 19,527.30.
Three-Month Price Chart (as on May 21, 2021). Source: EODHD/Others
Canadian markets remained closed on Monday, May 24, for Victory Day Celebration.
Major Movers, Gainers and Losers
Active Volume
Manulife Financial Corporation with 10.32 million shares, Sunlife Financials Inc. with 8.47 million shares and NuVista Energy Ltd. with 5.31 million shares are among the most actively traded stocks on Friday.
Wall Street Update
The Dow Jones Industrial Average finished higher for the third consecutive day, with the technology sector benefitting the most from the economic recovery. The Fed's remarks also boosted investor confidence, as policymakers underlined, the reopening of the US economy would result in temporary rather than long-term pricing pressures. The Dow rose 186.14 points to 34,394, and S&P 500 gained 41.19 points to 4,197 while the Nasdaq Composite pumped 190.18 points, to 13,661.
Commodity Update
Gold traded on a slight bearish mode at US$ 1,878.05 while a bullish trend was seen in oil prices. The Brent Oil jumped 3.10% to US$ 68.46/bbl, while WTI Crude Oil also closed higher at US$ 66.05/bbl rose 3.79%.
Multinational investment bank Goldman Sachs expects crude oil to rise to US$80/barrel by 2021-end.
Currency & Bond Update
The Canadian dollar revived after a two-day losing streak against the U.S. dollar on Monday, while USD/CAD closed at 1.2039, down 0.26%. The US Dollar Index slide on Monday after two days gain and closed at 89.85, down 0.19%.
The US 10-year bond yield fell for the fourth session and ended in red at 1.603, slump 1.05% on May 24, 2021.
The Canada 10-year bond yield was up on May 21, 2021, and closed at 1.543, up 0.06%.
Please note: The reference data in this article has been partly sourced from EODHD/Others.
