Canada’s main stock index rose on Monday, despite renewed concerns over US tariffs that dampened investor sentiment. Over the weekend, US President Donald Trump announced a 30 per cent tariff on most imports from the European Union and Mexico, set to take effect on August 1st, despite ongoing trade talks. Trump also issued a letter late Thursday imposing a 35 per cent tariff on Canadian goods, threatening that the rate could increase if Canada retaliates. Trump loves his lists, I wonder if his name appears on any?
The mounting pressure on key US trade partners is challenging the market’s earlier resilience to escalating tariff threats. Optimism that Trump might ease off on his tariff plans had helped push stocks to record highs last week. However, US stocks also gained as Wall Street prepared for a volatile week, with renewed trade tensions casting a shadow over an upcoming inflation report and the start of second-quarter earnings season.
| TSX | 27,198.85 | +175.60 |  |
| TSXV | 786.54 | +2.74 | |
| CSE | 128.82 | -0.97 |  |
| DJIA | 44,459.65 | +88.14 | |
| NASDAQ | 20,640.33 | +54.80 | |
| S&P 500 | 6,268.56 | +8.81 | |
The Canadian dollar traded for 72.99 cents US compared to 73.11 cents US on Friday.
US crude futures traded US$1.46 lower at US$66.99 a barrel, and the Brent contract lost US$1.12 to US$69.24 a barrel.
The price of gold was down US$7.68 to US$3,349.27.
In world markets, the Nikkei remained at ¥39,535.89 the Hang Seng was up 311.00 points to HK$24,203.32, the FTSE was up 56.94 points to ₤8,973.15, and the DAX was down 94.67 points to €24,160.64.
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