The S&P/TSX Composite advanced about 0.3% on Friday to trade above the 33,700 level for the first time, putting the benchmark on track for a weekly gain of more than 1.7% after the U.S. Supreme Court struck down President Trump’s global tariffs. The decision triggered a relief rally in trade‑exposed sectors, with Shopify climbing nearly 5% and Constellation Software gaining more than 4%. Industrials and transportation names also strengthened, as Canadian National Railway rose over 1% and Bombardier added close to 1%.
A pullback in major gold miners was offset by upbeat earnings from Lundin Mining, which drove its shares more than 7% higher. Financials traded firmer as Royal Bank of Canada and BMO each added around 0.4%, helping to counter a weaker‑than‑expected U.S. GDP print of 1.4% and a still‑elevated 3% core PCE inflation reading.
In contrast, energy names such as Suncor and Imperial Oil fell more than 1% as crude prices pared weekly gains despite a 9‑million‑barrel draw in U.S. inventories. Overall, the index remains on course for its strongest week since January, with the removal of tariff uncertainty outweighing an otherwise mixed macroeconomic backdrop.
