FX.co ★ TSX Poised to Set Record High

The S&P/TSX Composite Index advanced approximately 0.3%, surpassing the 30,700 mark for the first time on Thursday. This performance was bolstered by notable gains in the technology sector and a sustained rally among leading mining stocks amid growing trade tensions between the United States and China. Celestica emerged as the standout performer, climbing nearly 5% due to strong demand for AI infrastructure. This followed Goldman Sachs initiating coverage with a Buy rating and setting a target of $340, acknowledging Celestica’s capability to expand for hyperscale data centers. Shopify saw an increase of over 3%, driven by enhanced analyst targets and renewed optimism surrounding merchant growth and AI-augmented tools. Agnico Eagle, Barrick Mining, and Franco-Nevada also outpaced peers, with growth between approximately 1% and 2.5%, as gold prices continued to test new peaks. Meanwhile, US officials, on Wednesday, expressed criticism over China's stringent controls on rare-earth exports and hinted at possible retaliatory actions, prompting traders to remain vigilant.