TSX closes at fresh record high on mining, tech boost
By Nivedita Balu
Canada's main stock index closed at a record high on Monday, fueled by positive sentiment from Wall Street and gains in mining and tech stocks.
Toronto's S&P/TSX composite index 
TSX climbed 60.20 points, or 0.20%, to 30,531.88, closing its seventh consecutive session of gains and building on its 2.4% gain from the previous week.
The bullish momentum mirrored Wall Street, where markets rallied after AMD 
AMD announced a chip-supply partnership with OpenAI, becoming the latest in a series of artificial intelligence deals that have driven markets higher recently.
"The market just keeps climbing higher and it feels like commodities are definitely leading. Gold is on $4,000 watch... It's putting more emphasis on the material sector," said Greg Taylor, chief investment officer at PenderFund Capital Management.
Materials stocks 
TTMT added 1.3%, bolstered by gold prices reaching historic highs. The precious metal benefited from safe-haven demand and growing expectations for an interest rate cut at the U.S. Federal Reserve's October meeting.
TSX's information and technology sector TTTTK gained 0.3%, led by cryptocurrency miner Bitfarms 
BITF, which soared 14.8% as bitcoin hovered near an all-time high.
The energy sector 
TTEN contributed to the positive momentum, rising 1.6%, after oil prices increased about 1% on the day as OPEC+'s planned production increase for November was more modest than expected.
On Tuesday, Canadian Prime Minister Mark Carney will meet U.S. President Donald Trump in Washington to discuss economic and security issues as the two nations review a North American trade pact.
"Hopefully there is some good news to come. It does feel like the switch is flipped and Trump is trying to become more market-friendly," Taylor said.
While a U.S. government shutdown entering its sixth day has paused economic data releases south of the border, Canadian investors are turning their attention to domestic employment figures expected later this week.
