The S&P/TSX Composite Index experienced a 0.5% increase, closing at 30,420 on Tuesday. This growth was primarily driven by advances in the tech sector, which counterbalanced declines in commodity stocks prior to key interest rate decisions in North America and a significant earnings season. Shares of Celestica, a data center specialist, climbed 7.3% following a revision of its 2025 revenue projections and third-quarter earnings and revenue that exceeded market expectations, indicating steady demand for outsourced data services. Meanwhile, Cameco's stock soared by 22.9% on the announcement of a collaboration between Westinghouse Electric, Brookfield, and the U.S. government to pursue the construction of at least USD 80 billion worth of new nuclear reactors. This development enhances the long-term demand forecast for uranium and positively impacted Brookfield's shares, which rose by 1.2%. Anticipation is building for Canadian Natural, Canada’s largest oil producer, as it prepares to release its earnings on Thursday. Analysts predict higher revenue but slimmer profit margins, accounting for the mixed performance of energy stocks. Investors are particularly attentive to rate sensitive growth sectors, given the widespread expectation of 25 basis point cuts from both the Bank of Canada and the U.S. Federal Reserve this week.
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