TSX Tests Record High

The S&P/TSX Composite rose nearly 1% to above the 30,600 mark for the first time on Wednesday, as dovish signals from Fed Chair Jerome Powell outweighed ongoing US–China trade tensions and lifted both tech and major mining equities.

Agnico Eagle and Barrick each added roughly 2.5% as bullion pushed to fresh highs.

Rate-sensitive techs outperformed with Shopify rising over 1% and Celestica surged more than 4%.

With the US earnings season kicking off on a strong note with major banks, Canadian financials traded firmly higher as optimism spilled over into domestic bank stocks.

Elsewhere, markets remained watchful of the trade spat between the US and China after President Donald Trump threatened a cooking-oil embargo late in the session in retaliation for Beijing’s decision not to buy US soybeans.