Canada’s main stock index traded wins and losses on Thursday as the post-election volatility story continues. Energy and mining saw a lot of action on the TSX thanks to falling oil and gold prices. This was influenced by concerns over weakening demand due to a contraction in the US economy.
Meanwhile, US markets saw an uptick following strong quarterly earnings from major tech companies, Meta (NASDAQ:META) and Microsoft (NASDAQ:MSFT), the latter of which confirmed higher prices for some products. These results alleviated fears that spending on artificial intelligence might decrease amid economic instability. In contrast, General Motors (NYSE:GM) revised its 2025 forecast downward, citing worries about the impact of tariffs imposed by President Donald Trump, which are expected to cost the company at least US$4 billion.
The Canadian dollar traded for 72.25 cents US compared to 72.52 cents US on Wednesday.
US crude futures traded $0.36 higher at US$58.57 a barrel, and the Brent contract rose $0.36 to US$61.42 a barrel.
The price of gold was down US$91.43 to US$3,216.84.
In world markets, the Nikkei was up 406.92 points to ¥36,452.30, the Hang Seng remained at HK$22,119.41, the FTSE was up 1.95 point to ₤8,496.80, and the DAX was up 71.15 points to €22,496.98.
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(Top image generated with AI.)