Tariffs postponed, markets stabilize

Allan Tong Posted On February 4, 2025

After Prime Minister Trudeau had a phone meeting with Trump late Monday, Trump postponed tariffs on Canadian goods for a month. Markets stabilized Tuesday to show modest gains. The TSX added 0.15% as eight sectors rose, led by energy, tech and staples to counter weakness in sectors including financials.

Key movers: TMX 8.33%, Celestica 7.34%, Cenovus 4.38%, MDA Space 7.08%, Brookfield Asset Management -3.57%. On a record run, gold increased another US$26 to US$2,841, while WTI declined 0.85% to US$72.55.

American indices fared slightly better: the S&P 0.72%, Nasdaq 1.35% and the Dow 0.3%. Palantir soared 23.99% after delivering a blow-out quarter, Apple rose 2.1%, Nvidia 1.71%, though PayPal Holdings closed at -13.17% and Estee Lauder -16.07%. The U.S. 10-year yield held around 4.513% as Bitcoin tumbled 5% to US$96,900.

🏛 TMX Group (X-T) +8.33%

🧬 Celestica Inc (CLS-T) +7.34%

🛢 Cenovus Energy (CVE-T) +4.38%

🧬 MDA Ltd. (MDA-T) +7.08%

🏛 Brookfield Asset Management Inc. (BAM-N) -3.57%

💾 Palantir Technologies (PLTR-N) +23.99%

🍎 Apple Inc (AAPL-Q) +2.1%

💾 NVIDIA Corporation (NVDA-Q) +1.71%

🛒 PayPal Holdings Inc. (PYPL-Q) -13.17%

💄 Estee Lauder (EL-N) -16.07%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -5%