After a wild ride yesterday and a false report on a tariff reprieve, equity markets are less volatile as we start the second trading day of the week.
The TSX opened down over 330 points and since Trump announced global tariffs on April 2nd, information technology has taken the biggest hit led by Shopify, In premarket trade, Shopify edged up 2 and a half percent and is down almost 30 percent year to date.
In the US, the Dow declined almost 350 points, and the Nasdaq edged up a tenth of a percent.
In Europe, markets are higher, the FTSE100 gaining around 2 and a half percent.
Market Numbers (Futures)
TSX : Down (1.44%) 22,859.46
TSXV: Down (1.48%) 567.42
DOW: Down (0.91%) 37,965.60
NASDAQ: Up (0.10%) 15,603.26
FTSE: Up (2.46%) 7,892.19
In the Headlines
China is standing firm, saying “it will fight to the end” and retaliate against the United States after U.S. President Donald Trump threatened an additional 50 percent tariff on Chinese imports. If Trump implements his new tariffs, the tariff total on Chinese goods would reach 104 percent. The European Commission has also indicated they will use “all instruments” to hit back “if necessary” in regards to Trump’s 20 percent across the board tariff on imports from the European Union, set to take effect April 9th.
Tilray Brands is under pressure after reporting its Q3 fiscal 2025 results, missing earnings estimates. Tilray has cut its full year revenue outlook and is down almost 13 percent in the last 5 days and down 61 percent year to date.
Currencies Update: (Futures)
In currencies today, The Canadian dollar is up around a half percent against the greenback, trading at 70 cents U.S. The loonie is up against the pound and gained a quarter of a percent against the Euro. Bitcoin gained 4 percent, adding around C$4400 to its price.
Commodities: (Futures)
Natural Gas: Up (1.63%), 3.71
WTI: Up (0.77%), 61.17
Gold: Up (0.80%), 3004.87
Copper: Up (0.16%) 4.28
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