FX.co ★ Canadian Stocks Set for New Record

Futures linked to the S&P/TSX Composite Index were up on Friday, building on the strong gains achieved throughout the week. This period saw the index repeatedly breach its record high, largely driven by resource-backed and technology companies. Crude oil prices also experienced a rebound, moderating the significant increases seen the previous day as markets reassessed the global supply scenario in light of reduced military conflict risks between Iran and the US. Concurrently, technology firms in North America witnessed further gains, spurred by optimistic results from TSMC, an important indicator of demand in the AI and computing sectors. Additionally, the outlook for Canadian trade has brightened following a meeting between Prime Minister Carney and a Chinese delegation, which indicated potential reductions in tariffs on electric vehicles and canola as both nations seek to mend trade relations strained by issues with the US.