Canadian markets are moving higher this morning as strength in commodities, crypto assets, and improving retail data help offset lingering concerns about inflation and energy prices. The TSX is up 0.86%, while the TSX Venture Index is gaining 1.49%, supported by broader risk sentiment and continued strength in resource-related sectors.
In the U.S., markets are mixed. The Dow is up 0.59%, while the Nasdaq is down 0.04% as investors continue digesting higher energy costs, retail-sector weakness, and the latest economic data. Added context suggests markets are finding some stability as bond market volatility eases, while commodity and crypto strength continue to attract investor flows. US stocks rise as the bond market steadies a bit and Stocks trade higher, lifted by crypto, commodities: AlphaCheck highlight the improving tone across several asset classes.
Market numbers
TSX: Up (+0.86%) 36,679.79
TSXV: Up (+1.49%) 987.62
DOW: Up (+0.59%) 53,096.7
NASDAQ: Down (‑0.04%) 29,229.3
FTSE 100: Up (+0.78%) 10,811.75
In the headlines
- Walmart hit by fuel-driven consumer pressure: Walmart (TSX:WMT), the world’s largest retailer, fell sharply after investors reacted to concerns that rising fuel costs are putting pressure on consumer spending. Higher gasoline prices are increasingly impacting household budgets and discretionary purchases, weighing on retail sentiment.
- Canadian retail sales rise, but slowdown expected: Statistics Canada reports retail sales up 0.6 per cent in June at $74.3B. Canadian retail sales rose for a seventh consecutive month, reaching $74.3 billion. However, Canadian retail sales look set to fall after seven months of gains suggests momentum may be fading as higher living costs begin to weigh on consumers.
- Transat warns about higher fuel costs: Transat (TSX:TRZ), the Canadian travel and leisure company, expects approximately $105 million in additional jet fuel costs during the third quarter. Rising energy prices continue to pressure airline profitability and create uncertainty for the broader travel sector.
Currencies
USD: Up (+0.29%) $0.7271
GBP: Up (+0.17%) $0.5327
EUR: Up (+0.26%) $0.62262
JPY: Up (+0.11%) ¥115.496
AUD: Down (‑0.56%) $1.0139
Bitcoin (BTC/CAD): Up (+5.51%) 106,205.3
(Conversion to C$1)
Commodities
Copper: Up (+1.54%) 6.67167
Gold: Up (+1.46%) 4,585.53
WTI: Down (‑0.25%) 86.30
Natural Gas: Up (+0.80%) 2.775
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