TSX Ends Slightly Lower Amid Trade Tensions and Earnings Focus
TSX Dips Slightly as Trade Uncertainty and Earnings Reports Shape Market Sentiment
Canada’s main stock index ended slightly lower on Friday, as investors weighed U.S. trade developments and a wave of corporate earnings from American companies.
At the close of trading , the S&P/TSX 60 Index slipped by 0.2 points or 0.01%. The broader S&P/TSX Composite Index declined by 17 points, or 0.1%, following a strong rally on Thursday, when the index gained 254.85 points (1%)—marking its highest close since April 2. The TSX is now nearing the point of erasing its year-to-date losses.
According to analysts cited by Reuters, investor optimism has been fueled by solid earnings from U.S. corporations, the potential for new trade agreements by the Trump administration, and a possibility of a Federal Reserve rate cut in June.
Markets Watch Canada’s Upcoming Federal Elections
With Canada’s federal elections set for April 28, both voters and markets are closely examining campaign promises, particularly around spending and fiscal deficits. CIBC Chief Economist Avery Shenfeld warned of a possible gap between what’s presented on paper and what may appear in the official budget rollout.
U.S. Markets Edge Up as Investors Digest Alphabet’s Earnings and Trade Signals
U.S. stock markets ended Friday with modest gains, driven by optimism over earnings and signs of easing trade tensions.
As of 23:00 Turkish time, the Dow Jones Industrial Average rose by 20.1 points (+0.05%), the S&P 500 added 40.4 points (+0.7%), and the Nasdaq Composite surged by 216.9 points (+1.3%).
These moves capped a strong week, with the S&P 500 gaining around 4%, the Dow climbing over 2%, and the Nasdaq up more than 5% since last Thursday’s close.
Tech giant Alphabet (NASDAQ: GOOGL) reported better-than-expected earnings and announced a $70 billion share buyback, boosting its stock by 2.2%. Meanwhile, Intel (NASDAQ: INTC) also posted strong earnings but issued cautious guidance due to tariff-related concerns, resulting in a 7% drop in its stock price.
AbbVie Inc (NYSE: ABBV) beat expectations and raised its full-year guidance, driven by strong performance from its immunology drugs Skyrizi and Rinvoq. Its shares climbed 2.7% during the session.
Oil Posts Weekly Loss Despite Friday’s Gains
Oil prices ended the week lower overall, even though both Brent and West Texas Intermediate (WTI) crude futures rose on Friday.
Tensions within OPEC over output quota compliance have led to speculation that some producers may look to ramp up production in June following May’s unexpected output increases. OPEC and its allies (OPEC+), including Russia, are scheduled to meet on May 5 to finalize their production plans.
WTI crude was up 0.6% at $63.19 per barrel, while Brent crude gained 0.7% to trade at $66.98 per barrel.
Gold Eases Slightly as Risk Appetite Improves
Gold prices slipped slightly as investor appetite for risk improved, fueled by signs that the U.S.-China trade tensions might be easing.
Gold futures fell 0.5% to around $3,330 per ounce, weighed down in part by a rebound in the U.S. dollar from three-year lows. Despite the pullback, gold remains close to its all-time high of $3,500 per ounce reached earlier this week.
