|
TSX
1D %
YTD %
|
26,857.11
0.6%
7.9%
|
|
|
TSXV
1D %
YTD %
|
733.37
1.3%
18.8%
|
|
|
S&P 500
1D %
YTD %
|
6,198.01
0.1%
5.6%
|
|
|
NASDAQ
1D %
YTD %
|
20,202.89
0.8%
4.8%
|
|
|
US 10Y
1D
YTD
|
4.24
2 bps
33 bps
|
|
|
DJIA
1D %
YTD %
|
44,494.94
0.9%
5.0%
|
|
|
CA 10Y
1D
YTD
|
3.27
3 bps
5 bps
|
|
|
CAD/USD
1D %
YTD %
|
0.733
0.3%
5.4%
|
|
DST dropped, trade talks resume
Bombardier signs $2B deal
Canadian lumber names shed capacity
Axe body spray or Trump fragrance?
DST gets dropped, trade talks resume
With the Digital Services Tax shelved for now, trade talks have restarted in hopes of inking a new deal by July 21st. In the meantime, LNG Canada’s first shipment left for Asia on Monday as Canada pushes to diversify its trading relationships.
Bombardier boosts backlog with $2B order
After the close Monday Bombardier (BBD) added a meaningful 50 aircraft order to its 2027 backlog, with a purchase option for an additional 70 units.
Combined with a full-suite service agreement, the deal represents just under $2B at the low end and more than $4B should the client fully exercise the purchase options.
It also reiterates the company’s focus on services and defense-led growth…
❝
If you think through the strategy we’re deploying and where the vast majority of our growth is coming from over the coming years, it’s in our services and defense businesses, which provide us with our highest EBITDA margins.
Eric Martel (CEO) - BBD Q1’25 earnings call
… which should drive continued margin expansion across BBD’s global footprint.
With shares trading more than 50% higher than liberation day lows, the market is counting on it - continued execution will be required to keep its premium.
Canadian lumber names shed capacity
Western Forest Products (WEF) announced the loss of over 50M board feet of annual lumber capacity after a fire totalled one of its sawmills in Washington.
The news follows a 350M annual board feet loss due to the closure of two U.S. sawmills by Canfor (CFP), who says the decision was driven by weak market conditions and financial losses at the facilities.
The lost capacity represents just under 1% of North American consumption, which continues to soften on the back of weaker housing demand…
… but if capacity keeps getting taken out of the market lumber could find its footing and so could Canadian lumber stocks, which trade in-line with historical averages.
Surely the presidency will go down as Trump’s greatest business venture…
I imagine it smells like the inside of a high school locker room after unloading the clip on a few cans of Axe body spray… but hey, there’s probably a market for it.
|
Patriot (PMET)
1D %
YTD %
|
2.44
6.6%
30.3%
|
|
|
Healwell (AIDX)
1D %
YTD %
|
1.30
5.8%
38.4%
|
|
|
Lundin (LUG)
1D %
YTD %
|
71.90
6.5%
134.5%
|
|
|
Roots (ROOT)
1D %
YTD %
|
2.90
4.3%
34.9%
|
|
|
Hammond (HPS-A)
1D %
YTD %
|
125.43
4.5%
2.1%
|
|
|
Baytex (BTE)
1D %
YTD %
|
2.44
3.2%
34.1%
|
|
YESTERDAY’S ECONOMIC RELEASES
| Release |
Actual |
Consensus |
| 🇺🇸 S&P Mftg. PMI |
52.9 |
52.0 |
| 🇺🇸 ISM Mftg. PMI |
49.0 |
48.8 |
| 🇺🇸 JOLTs Openings |
7.8M |
7.3M |
| 🇺🇸 Construction Spend M/M |
-0.3% |
-0.2% |
| 🇺🇸 ISM Mftg. Prices |
69.7 |
69.0 |
| 🇺🇸 Economic Optimism |
48.6 |
50.1 |
TODAY’S ECONOMIC RELEASES
| Release |
Time |
Consensus |
| 🇨🇦 S&P Mftg. PMI |
9:30AM |
- |
| 🇺🇸 ADP Employment Chg. |
8:15AM |
95K |
|
WTI Crude
1D %
YTD %
|
65.67
0.9%
8.5%
|
|
|
Gold
1D %
YTD %
|
3,338.07
1.1%
27.2%
|
|
|
Nat Gas
1D %
YTD %
|
3.41
1.4%
5.3%
|
|
|
Silver
1D %
YTD %
|
36.01
0.2%
24.7%
|
|
|
Lumber
1D %
YTD %
|
619.47
1.1%
12.5%
|
|
|
Copper
1D %
YTD %
|
5.04
0.3%
26.7%
|
|
|
Soybean
1D %
YTD %
|
1,024.69
0.0%
2.5%
|
|
|
Aluminum
1D %
YTD %
|
2,602.10
0.0%
1.8%
|
|
|
Corn
1D %
YTD %
|
419.43
0.3%
8.4%
|
|
|
Wheat
1D %
YTD %
|
537.39
1.6%
2.6%
|
|
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