周四，标准普尔/多伦多证交所综合指数微涨至28435点，保持在创纪录水平，因为投资者利用了最近的强势，尤其是在道明银行和加拿大帝国商业银行强劲盈利后的金融领域。道明银行第三季度强劲的头条新闻最初推动了反弹，但一旦交易员深入了解细节、更高的非利息成本、更疲软的利润前景和增长不明朗的指导，该股逆转并收盘下跌4.5%。另一方面，加拿大帝国商业银行确实保持了2%的涨幅，此前该行凭借强大的资本市场部门超过了预期，净收入激增和适度拨备帮助其每股2.16加元，而预期为2.00加元。在其他地方，科技巨头Shopify上涨0.9%，追随Nvidia强于预期的收益。

The S&P/TSX Composite closed marginally higher at 28,435 on Thursday, holding to its record levels as investors take advantage of recent strength, especially in financials following robust earnings from TD Bank and CIBC. TD Bank’s strong headline Q3 print initially powered the rally, but once traders dug into the details, higher noninterest costs, a softer margin outlook and guidance that left growth unclear, the stock reversed and closed 4.5% lower. On the other hand, CIBC did hold on to gains rising 2% after it beat forecasts with a strong capital markets unit, a net income surge and modest provisions helped it post C$2.16 per share versus a C$2.00 estimate. Elsewhere, tech mega-cap Shopify added 0.9% tracking Nvidia’s stronger-than-expected earnings.

2025年第二季度，由于商品贸易平衡急剧恶化，加拿大的经常账户赤字扩大了198亿加元，达到创纪录的212亿加元。由于美国关税和加元走强的压力，出口下降13.1%，至1822亿加元，为2021年底以来的最低水平，商品赤字增加了191亿加元，达到前所未有的196亿加元。进口下降4.0%，至2018亿加元。在服务业，余额转为1亿加元的小额盈余，出口和进口均有所下降。外国投资组合投资者剥离了168亿加元的加拿大证券，这是自2007年以来的最大规模，而加拿大投资者购买了268亿加元的外国资产。

Canada’s current account deficit widened by C$19.8 billion in Q2 2025 to a record C$21.2 billion, driven by a sharp deterioration in the goods trade balance. The goods deficit rose by C$19.1 billion to an unprecedented C$19.6 billion, as exports dropped 13.1% to C$182.2 billion, the lowest since late 2021, pressured by US tariffs and a stronger Canadian dollar. Imports fell 4.0% to C$201.8 billion. In services, the balance shifted to a small surplus of C$0.1 billion, with declines in both exports and imports. Foreign portfolio investors divested C$16.8 billion in Canadian securities, the largest since 2007, while Canadian investors bought C$26.8 billion in foreign assets.

2025年6月，加拿大的平均每周收入同比增长3.7%，达到1302.11加元，高于上个月的3.3%。一般来说，平均每周收入的增长可以反映一系列因素，包括工资、就业构成、工作时间和基准年效应的变化。6月份，平均每周收入环比增长0.7%。6月份的平均每周工作时间（33.4小时）与去年同期相比变化不大。

Average weekly earnings in Canada rose by 3.7% year-over-year to CAD 1,302.11 in June 2025, accelerating from a 3.3% gain in the previous month. In general, growth in average weekly earnings can reflect a range of factors, including changes in wages, composition of employment, hours worked and base-year effects.Month over month, average weekly earnings were up 0.7% in June. Average weekly hours worked (33.4 hours) were little changed in June both on a month-over-month and year-over-year basis.

周四，标准普尔/多伦多证交所综合指数上涨约0.2%，首次突破28450点大关，此前一周银行业绩突出，增强了人们对市场最大行业的信心。道明银行在公布9.71亿加元的拨备后上涨了2.5%以上，远低于预期的12.1亿加元，每股收益为2.20加元，超出预期并提振了股价。同样，加拿大帝国商业银行股价上涨超过1%，此前该行凭借强大的资本市场部门、净收入激增和适度拨备击败了预期，帮助其公布每股2.16加元，而预期为2.00加元。这两份报告都是在加拿大皇家银行早些时候走强之后发布的，共同表明短期信贷风险大幅降低，支持股息和回购的资本更加自由。Shopify的表现也优于其他公司，涨幅超过1%，因为投资者正在等待Nvidia的业绩，以评估科技反弹的可持续性。然而，商品名称在很大程度上受到范围限制。

The S&P/TSX Composite rose around 0.2% to above the 28,450 mark for the first time on Thursday as a week of standout bank earnings concluded and reinforced confidence in the market’s largest sector. TD Bank added over 2.5% after posting provisions of C$971 million, well under the C$1.21 billion expected, and delivered earnings per share of C$2.20, which topped expectations and lifted shares. Similarly, CIBC rose over 1% after it beat forecasts with a strong capital markets unit, a net income surge and modest provisions helped it post C$2.16 per share versus a C$2.00 estimate. Both reports followed earlier strength at Royal Bank of Canada and together signalled materially lower near-term credit risk and freer capital to support dividends and buybacks. Shopify also outperformed, adding over 1% as investors awaited Nvidia’s results to assess the sustainability of the tech rally. However, commodity names were largely range bound.