TSX Sets Fresh Record High
On Monday, the S&P/TSX Composite index rose by 0.7%, reaching a new high of 29,972, driven by gains in the technology and mining sectors alongside optimism for potential easing of US policy. Concerns over a partial US government shutdown elevated safe-haven investments in gold and metals, while a US PCE report in line with expectations encouraged speculation that the Federal Reserve could relax its policy later this year. Additionally, OpenAI's introduction of the Instant Checkout feature, which allows users to make purchases directly within ChatGPT and is expected to roll out to Shopify merchants, bolstered Shopify shares by 6.2% and provided a boost to the tech sector overall. The surge in gold prices also benefited major mining companies such as Agnico Eagle, Wheaton Precious Metals, and Franco Nevada, which saw increases ranging from 0.7% to 1.9%.
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