TSX Sets Record High on Monday
On Monday, the S&P/TSX Composite Index advanced by 0.2% to secure a new all-time high of 30,532. This uptick was primarily driven by strong performances in the technology and commodity sectors. Notably, Shopify, a major player in the tech industry, surged by 2.1% following fresh analyst upgrades and increased enthusiasm surrounding its artificial intelligence integrations, which are perceived as enhancing the company's potential for revenue growth. In the energy sector, Canadian Natural Resources, Imperial Oil, and Cenovus saw their shares rise between 1.2% and 2.8%, buoyed by a continued rebound in oil prices for a second consecutive session. In the mining sector, key companies such as Agnico Eagle, Wheaton Precious Metals, Barrick, and Franco-Nevada experienced gains ranging from 0.1% to 0.7%, supported by new peaks in gold prices that bolstered commodity investments. Looking ahead, investors are keenly anticipating upcoming labor market data later this week, which is expected to play a critical role in shaping future monetary policy decisions by the Bank of Canada.
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