Driven by gains in mining shares, Canada’s main stock index reached a record high on Friday. Markets assessed an overnight jump in bets for a larger U.S. interest-rate cut by the Federal Reserve next week. The tech and energy sectors were also top supporters of the broad-based rally on the TSX. A new report stated that wholesale trade grew by 0.4 per cent in July from June, while Canadian industries’ capacity ran at 79.1 per cent of capacity in Q2 2024.
U.S. markets rose near record highs as they finished out their fourth winning week in the past five.
The Canadian dollar traded for 73.58 cents U.S. compared with 73.64 cents U.S. on Thursday.
U.S. crude futures traded $0.19 higher at $69.16 a barrel, and the Brent contract rose $0.07 to $72.04 a barrel.
The price of gold was up US$23.34 to US$2,581.16.
In world markets, the Nikkei was down 251.51 points to 36,581.76, the Hang Seng was up 128.70 points to 17,369.09, the FTSE was up 32.12 points at 8,273.09, and the DAX was up 170.42 points to 18,688.81.
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(Top image generated with AI)