TSX Hits All-Time High

The S&P/TSX Composite Index advanced 0.4% to a record high of 23,569 on Friday, securing a weekly gain of 3.5%, driven by strength in commodity producers, financial institutions, and tech stocks.

Gold prices soared to all-time highs on expectations of a rate cut by the US Federal Reserve, boosting mining giants Agnico, Barrick Gold, and Wheaton Precious, which rose between 1.1% and 1.9%.

Tech and financial sectors also outperformed, with TD Bank adding 0.6%, Shopify up 1.7%, Brookfield rising 0.9%, Scotiabank gaining 0.7%, and CIBC climbing 1%.

Oil prices marked their third consecutive session of gains amid supply disruptions caused by Hurricane Francine's impact on the Gulf Coast, supporting energy stocks such as Suncor and Imperial Oil, both up over 0.5%.

Meanwhile, uncertainty persisted regarding the magnitude of the Fed's anticipated rate cut next week, expected to initiate a broader monetary easing cycle for the US economy.