Here are five things you need to know this morning
TSX breaks through 27,000 points: Canada’s benchmark stock index, the S&P/TSX composite, finished at more than 27,000 for the first time ever yesterday, closing at 27,034 points. It’s now up more than nine per cent so far in 2025. The most influential gainers so far this year have been Shopify, Brookfield Corporation and Royal Bank of Canada.
No U.S. trading today: Stock market trading will be paused today in the United States for the July 4 holiday. Stock market trading will proceed as usual here in Canada.
Strategist waves caution flag on U.S. stocks: A senior Wall Street strategist says the red-hot rally in U.S. stocks investors have enjoyed since early April is now at the point where investors should consider selling some of their holdings. Michael Hartnett of Bank of America said he would consider the S&P 500 index at 6,300 points to be a sell signal. The index closed within a fraction of a percentage-point of that level Thursday. Hartnett said risks of a U.S. stock-market bubble are rising. The S&P 500 has gained 26 per cent since April 8.
Cargojet renews deal with Amazon: Shares of Cargojet, the Mississauga-based air shipper, rose by more than four per cent Thursday. The company announced an extension of its deal to ship packages for Amazon Canada. The new deal runs to the end of March 2029.
Canadian dollar traded at 73.5 cents U.S. this morning: The loonie is up 6.8 per cent from its lowest level versus the U.S. dollar over the past year, 68.8 cents U.S. on Jan. 31.