FX.co ★ Baystreet Set for Fresh Record High

The S&P/TSX Composite index gained approximately 0.3%, surpassing the 29,150 level for the first time on Tuesday. This increase followed a US Producer Price Index report that was softer than anticipated, bolstering expectations that the Federal Reserve has the flexibility to reduce interest rates in the upcoming week and further into the year. This sentiment is based on the notion that tariff-induced price pressures have not yet fully surfaced, giving policymakers more leeway to initiate easing measures as the labor market begins to show signs of slowing down. In response, major mining companies such as Agnico Eagle, Wheaton Precious Metals, and Barrick experienced a rally, gaining between 1.2% and 1.9%, as the reduced opportunity cost of holding bullion supported gold prices. Energy producers also saw gains, buoyed by an uptick in oil benchmarks stemming from concerns over potential supply disruptions in the Middle East. Furthermore, technology stocks contributed to the overall market advance, benefiting from the heightened anticipation of monetary easing in North America, which favors sectors sensitive to interest rate changes.