FX.co ★ TSX Gives Up Record High

The S&P/TSX Composite Index decreased by approximately 0.4%, dipping below the 30,730 mark on Thursday. This decline follows a record high achieved yesterday, driven by a renewed shift away from highly valued technology stocks, while energy and some resilient financial sectors helped to minimize the drop. The technology sector led the decline, with Shopify and Constellation Software dropping over 3% and 2%, respectively. Celestica saw a significant decline, falling almost 7% after a ratings downgrade that noted limited potential for further growth. On the other hand, energy producers helped mitigate the overall index loss, with Canadian Natural, Suncor, Imperial Oil, and Cenovus advancing between 0.8% and 1.3% as oil prices regained earlier losses. Manulife showed a superior performance, increasing by 1.3% thanks to its robust quarterly results, driven by strong performance in its Asia operations, thus providing additional support to the financial sector. With the recent approval of the funding bill, U.S. federal operations have resumed, prompting investors to examine the released official data and updated corporate reports for insights into economic growth and the earnings forecast.