Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...
The Toronto Stock Exchange’s S&P/TSX composite index ended up 71.82 points, or 0.3%, at 20,990.22, its highest weekly closing level since April 2022.
The market is being driven higher by technicals, which are very bullish right now, according to Brandon Michael, senior investment analyst at ABC Funds. The Toronto market has posted a series of higher peaks and troughs since October, notching a gain of nearly 12% over that period. The technology sector added to its recent rally on Friday, rising 0.7%. Energy rose 0.6% as oil settled 0.9% higher at $72.68 a barrel following overnight air and sea strikes by the U.S. and Britain on Houthi targets in Yemen. The materials sector, which includes precious and base metals miners and fertilizer companies, was up 1.6% as the price of gold benefited from safe-haven buying and the prospect of Federal Reserve interest rate cuts.
The title of this article could be “Toronto Stock Exchange’s S&P/TSX Composite Index Reaches Highest Weekly Close in 21 Months”.
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