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Market update Score 45 Neutral

Canadian Stocks Show Mixed Results Amid Holiday-Driven Caution

Apr 06, 2026 15:38 UTC
^GSPTSE, CL=F, ^VIX
Short term

Canadian equities posted a modest gain on Thursday as traders remained cautious ahead of a U.S. holiday and awaited key economic data. The S&P/TSX Composite Index edged higher while energy and defense sectors saw divergent performances.

  • S&P/TSX Composite Index rose 0.09% to 31,209.15
  • Energy and defense sectors showed divergent performances
  • Tilray fell over 12% while Badger Infrastructure and Interfor gained 1-2.2%
  • Average weekly earnings rose 3.1% year-on-year in September 2025
  • Current account deficit narrowed by C$11.9 billion to C$9.7 billion in Q3 2025
  • Investors await Canadian GDP data and potential Fed rate cut in December

Canadian stocks delivered a mixed performance on Thursday, with the S&P/TSX Composite Index rising 0.09% to 31,209.15 as traders adopted a wait-and-see approach ahead of the U.S. Thanksgiving holiday. The market's muted movement reflected investor reluctance to make large trades without fresh data, though expectations of a potential Federal Reserve rate cut in December provided some support. Energy and defense sectors showed contrasting trends, with energy stocks underperforming while defense-related names gained traction. Among individual stocks, Badger Infrastructure, Interfor, and Northland Power rose between 1% and 2.2%, while Tilray experienced a sharp decline of over 12%. The mixed session also saw Canopy Growth Corp fall by 2.3%, while Empire Company, Cascades, and Wesdome Gold Mines declined between 1% and 1.5%. Recent economic data from Statistics Canada revealed a 3.1% year-on-year increase in average weekly earnings for non-farm payroll employees in September 2025, following August's 2.7% rise. Additionally, Canada's current account deficit narrowed by C$11.9 billion to C$9.7 billion in Q3 2025, offering some positive economic signals. Investors are now turning attention to Friday's Canadian GDP data release, which could provide further direction for the market. The cautious tone in trading was also influenced by ongoing geopolitical uncertainties, though no immediate developments emerged to significantly impact stock prices.

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