TSX Extends Record Streak

The S&P/TSX Composite Index added 0.3% to close at 36,759, extending its record-breaking streak amid lower oil prices and soft US producer inflation. Oil prices fell on weakening demand prospects. Easing inflationary pressures in the US, following tame PPI data, supported financials and other credit-sensitive shares. RBC added 0.6% and CIBC gained 1.1%. Tech stocks posted gains, tracking a strong session for US chipmakers and hyperscalers. Shopify advanced 5.3%, Constellation Software gained 2.8%, and Celestica added 2.6%. Brookfield (+0.7%) reported higher second-quarter distributable earnings per share. CCL jumped 6.9% after posting 9.1% sales growth and 10.7% adjusted EPS growth. Pan American Silver slumped 9.8% after posting EPS below expectations. Hydro One shed 0.5% despite beating quarterly estimates. Metro lost 0.5% after reporting weaker fiscal third-quarter adjusted earnings.

The S&P/TSX Composite Index traded near flat above 36,500, holding onto yesterday's record amid a fresh batch of corporate earnings and lower oil prices. Brookfield (+0.5%) reported higher second-quarter distributable earnings per share. Hydro One (+1%) reported higher profit and EPS of C$0.62, beating forecasts. Metro (+1%) posted 4.1% sales growth and 8.8% adjusted EPS growth, although same-store food sales remained modest and fiscal third-quarter adjusted earnings were weaker. CCL Industries (-1.2%) posted 9.1% sales growth and 10.7% adjusted EPS growth. Pan American Silver (-7%) reported 38% revenue growth and strong free cash flow, although EPS of $0.73 came in below expectations. . Meanwhile, oil prices fell on weakening demand prospects. Easing inflationary pressures in the US, following tame PPI data, supported financials and other credit-sensitive shares. RBC and TD Bank added 0.5%, while CICB gained 1%. Miners fell on lower gold prices, with Agnico Eagle down 1.5%.

Futures tracking Canadian equities edged higher amid a fresh batch of corporate earnings and lower oil prices. Brookfield reported higher second-quarter distributable earnings per share. CCL Industries posted 9.1% sales growth and 10.7% adjusted EPS growth. Pan American Silver reported 38% revenue growth and strong free cash flow, although EPS of $0.73 came in below expectations. Hydro One reported higher profit and EPS of C$0.62, beating forecasts. Metro posted 4.1% sales growth and 8.8% adjusted EPS growth, although same-store food sales remained modest and fiscal third-quarter adjusted earnings were weaker. Meanwhile, oil prices fell on weakening demand prospects. Easing inflationary pressures, following tame US PPI data, supported financials and other credit-sensitive shares, while lower oil and gold prices pressured commodity-related stocks.