TSX Flat Amid US Tariff, Debt Concerns, Bank Canada Warns
TSX Flat Amid US Tariff, Debt Concerns, Bank Canada Warns

TSX Flat Amid US Tariff, Debt Concerns, Bank Canada Warns

News summary

Canada's main stock index, the TSX Composite, showed modest gains on Friday despite ongoing concerns about global trade tensions and U.S. fiscal policy. Renewed trade tensions arose after U.S. President Donald Trump proposed 50% tariffs on European Union imports, causing global equities to tumble. The U.S. House of Representatives passed a sweeping tax and spending bill expected to add significantly to the U.S. debt, raising economic uncertainty. Bank of Canada Governor Tiff Macklem warned that second-quarter growth could be weaker than the first, especially if trade uncertainties persist, with official GDP numbers due soon. Retail sales in Canada increased in March, led by motor vehicle and parts dealers, while market sectors were mixed, with gains in gold, materials, and consumer staples offset by declines in telecoms and technology. Additionally, TD Bank reported a drop in quarterly profits amid economic uncertainties but saw its shares rise following cost-cutting announcements.

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