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Canadian Stocks Rise on First Day of 2025, US Markets Dip

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Stocks,Canada,US Markets

Canada's main stock index climbed on the first trading day of 2025, fueled by energy and base metals, while US markets started the year with losses. US markets fell due to strong job market data, which raised concerns about the Federal Reserve's interest rate cuts. In contrast, Canadian markets were buoyed by energy and materials, despite challenges like a stalled GDP and rising unemployment.

TORONTO — Energy and base metals stocks led Canada's main stock index higher on the first trading day of 2025, while U.S. stock markets started the year in the red.

U.S. markets drooped halfway through the day, likely in part due to new data showing fewer workers applied for unemployment benefits last week than expected, said Chopra, the latest sign of a robust job market even under the pressure of higher interest rates. “You’ve still got a strong job market, and that ... tends to mean that rates may not go down as quickly as investors have assumed they would,” he said.

Certain large names dragged U.S. markets lower Thursday, including Apple and Tesla, which dropped 2.6 per cent and 6.1 per cent, respectively.Meanwhile in Canada, markets moved higher thanks to energy and materials, said Chopra.

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