FX.co ★ TSX Rebounds Toward Record Highs

On Wednesday, the S&P/TSX Composite Index experienced a 0.4% uptick, closing at 27,153. This increase was primarily attributed to robust performances in the financial and technology sectors, as investors processed the implications of softer US producer price data alongside robust Canadian housing market activity. Notably, Shopify drove gains within the tech sector with a 4% surge, fueled by discussions regarding its expanding AI checkout collaborations with ChatGPT. Brookfield also saw a 4.3% rise following a report from its infrastructure division indicating stable cash flows. The mining and energy sectors presented a mixed picture: Agnico Eagle climbed by 0.3%, while Canadian Natural Resources and Suncor saw declines due to decreasing oil prices. Market sentiment was briefly disrupted by trade tensions, as President Trump announced a new 19% tariff on Indonesian goods. Nonetheless, uncertainties surrounding prospective 30% tariffs on imports from the EU and Mexico seemed to stabilize, offering some relief to export-dependent industries.