FX.co ★ Canadian Stocks Edge Lower

On Thursday, the S&P/TSX Composite Index dipped slightly, settling around the 26,240 mark after reaching an all-time high in the previous session. This performance lagged behind that of its US counterparts, primarily due to the Toronto Exchange's lower exposure to the technology sector. In a significant legal development, a US Federal court overturned a series of tariffs implemented under President Trump's international economic emergency measures, effectively lifting the 25% tariffs imposed on Canada since April. Despite this, the benchmark index remained subdued, largely due to a pullback in the dominant financial sector. Royal Bank of Canada (RBC) saw a decline of over 3% following a second-quarter earnings report that fell short of expectations, adversely affecting TD Bank and National Bank of Canada (NBC) shares. Canadian Imperial Bank of Commerce (CIBC) also traded in negative territory post its earnings announcement. Conversely, Shopify gained nearly 1%, bolstered by the broader tech sector's performance, as positive results from Nvidia buoyed technology stocks globally.