13.08.202520:01:58UTC+00TSX Renews Record High

The S&P/TSX Composite Index in Canada increased by 0.3%, reaching a historic high of 27,993 on Wednesday. This rise was influenced by tempered inflation figures from the United States, which strengthened the likelihood of the Federal Reserve implementing a rate cut in September. The moderate Consumer Price Index (CPI) for July suggested that the impact of tariffs on consumer prices has been minimal, thus alleviating concerns about another surge in inflation. This supports the argument for easing monetary policy, particularly after some members of the Federal Open Market Committee (FOMC) indicated that tariff-related risks may have postponed the Fed’s plans to loosen policy. Financial stocks were at the forefront of this upward movement, with gains ranging from 0.7% to 1.6% for Royal Bank of Canada, TD Bank, Brookfield, and Bank of Montreal. On the other hand, commodity producers finished the day with mixed results.