TSX Renews Record High
The S&P/TSX Composite index saw a 0.3% increase, reaching a new high of 30,108 on Wednesday. This uptick was driven by advances in major mining companies and Canadian tech firms, even as concerns loomed due to a partial U.S. government shutdown, which threatened to delay critical employment data and affect perceptions about future interest rate changes. Investors continue to exercise caution amid signs of a decelerating labor market, ongoing inflationary pressures, and high stock valuations concentrated in a limited number of companies. The demand for safe-haven assets led gold prices to new records, benefiting Agnico Eagle Mines and Barrick Gold, which saw gains of 1.2% and 2.8%, respectively. Meanwhile, Canadian technology leaders Shopify and Constellation Software improved by 0.9% and 1.4%. Overall, the strength in financial and energy sectors contributed to maintaining a positive outlook for the TSX.
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