The S&P/TSX Composite Index inched higher toward 35,500 on Tuesday, supported by easing oil prices and a pullback in global bond yields. Crude prices retreated as steady Middle Eastern exports and the G7’s release of emergency stockpiles helped alleviate supply concerns, tempering energy-driven inflation pressures. Bond yields also declined from multi-year highs, providing some relief to credit-sensitive sectors.
In financials, RBC and TD Bank advanced more than 0.5%, while BMO, Scotiabank, and CIBC each rose close to 1%. Miners underperformed amid choppy gold prices, with Barrick Gold and Wheaton Precious Metals (WPM) slipping about 0.5%. Elsewhere, Jamieson Wellness was little changed after securing final court approval for its planned acquisition by Kirin Holdings.
On the macroeconomic front, Canada’s merchandise trade surplus widened to its largest level in four years in August, as US buyers accelerated orders ahead of new tariffs that took effect at the end of the month.
