TSX Closer: The Market Sets a Fresh Record as the Post-Election Rally Continues While Shopify Had a Very Good Day

MT Newswires11-13

The Toronto Stock Exchange closed at a record high on Tuesday, pushed up as investors continue to add risk following the U.S. elections while Shopify (SHOP.TO, SHOP) rose 21% following its third-...

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Information Technology, up 6.38%, was the day's biggest gainer following Shopify's results, while Base and Battery Metals, down 2.3%, were the biggest decliners.\"Shopify reported strong FQ3 results. While revenue was essentially in line - profitability was firmly ahead of expectations. Importantly, that profitability was confirmation of the company's narrative this past year towards  capital discipline which began less than a year ago at the company's investor day when it laid out a number of initiatives in that effort. The FQ3 results  confirmed that narrative,\" the investment bank wrote.But, Scotia said, there are new cracks emerging. It noted private pension assets largel","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4548":"巴美列捷福持仓","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","BK4213":"石油与天然气的勘探与生产","BK4528":"SaaS概念","POST":"Post Holdings","BK4212":"包装食品与肉类","BK4532":"文艺复兴科技持仓","SHOP":"Shopify Inc","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","WTI":"W&T海底钻探","BK4585":"ETF&股票定投概念","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","BK4566":"资本集团","BK4524":"宅经济概念","BK4116":"互联网服务与基础架构","BK4588":"碎股","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU1548497426.USD":"安联环球人工智能AT Acc","BK4551":"寇图资本持仓","LU1861558580.USD":"日兴方舟颠覆性创新基金B"},"translate_title":"多伦多证券交易所收盘：选举后反弹持续，市场创下新纪录，而Shopify度过了非常美好的一天","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WTI":1,"SHOP":1,"POST":1},"content_text":"The Toronto Stock Exchange closed at a record high on Tuesday, pushed up as investors continue to add risk following the U.S. elections while Shopify (SHOP.TO, SHOP) rose 21% following its third-quarter earnings release. \n\n The S&P/TSX Composite Index closed up 133.73 points to 24,923.01, topping the prior high of 24,845,93 on Nov.7. Information Technology, up 6.38%, was the day's biggest gainer following Shopify's results, while Base and Battery Metals, down 2.3%, were the biggest decliners.\n\n Shopify closed up $26.89 to $152.26, its highest since January, 2022. National Bank Financial reiterated its outperform rating on the shares while boosting its price target to US$140.00 from US$100.00.\n\n \"Shopify reported strong FQ3 results. While revenue was essentially in line - profitability was firmly ahead of expectations. Importantly, that profitability was confirmation of the company's narrative this past year towards (increased) capital discipline which began less than a year ago at the company's investor day when it laid out a number of initiatives in that effort. The FQ3 results (and outlook) confirmed that narrative,\" the investment bank wrote. \n\n West Texas Intermediate (WTI) crude oil closed with a minor gain on Tuesday, rebounding from two losing sessions that pushed prices 6% lower, even after OPEC again lowered its demand forecast for this year and next.\n WTI crude for December delivery closed up US$0.08 to settle at US$68.12 per barrel, while January Brent crude, the global benchmark, closed up US$0.06 to US$71.89.\n\n Gold traded late afternoon on Tuesday as the dollar and treasury yields continued their post-election advance. Gold for December delivery was last seen down US$10.60 to US$2,607.10 per ounce.\n\n Scotiabank today noted new data that confirms most Canadian households are \"holding up,\" albeit \"not all.\" For the first time since 2019, the bank said, Canada provided a more granular look at the financial health of households with the release of the 2023 Survey of Financial Security. Scotia added it corroborates its earlier effort to piece together such a picture using more timely but aggregated data.\n\n According to Scotia, \"the picture is remarkable\". It noted the median net worth of all households jumped by over a third, to $520,000, in 2023 relative to its pre-pandemic, inflation-adjusted level. The imputed annual pace of wealth accumulation at 8% was twice the average of the previous two decades. And, it also noted, survey data would already reflect house price corrections that occurred mostly in 2022.\n\n But, Scotia said, there are new cracks emerging. It noted private pension assets largely flatlined for the first time ever with a serious contraction in employee-sponsored pension assets, masked by otherwise exceptional financial asset gains. It also noted lifetime renters also continue to confront compounding vulnerabilities, though the statistical agency notes more young households are amassing wealth outside home ownership.\n\n \"Sentiment remains weak and these data points are not going to tip the balance. Nor are they likely to repeat given exceptional pandemic related drivers behind the broad based gains,\" Scotia said, before adding, \"Policymakers should double-down on fixing the cracks -- not plastering the walls -- while reinforcing the foundational drivers of sustainable wealth creation.\"","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483069708"}