TSX Nears Record High After GDP Release

2026-08-28 13:56 By Isabela Couto 1 min. read

The S&P/TSX Composite Index inched higher to trade near 37,000 on Friday following the release of GDP data.

Canada's GDP expanded at an annualized rate of 3.3% in the second quarter, the strongest pace in nearly two years, providing some buffer against economic risks from ongoing trade disputes with the US.

Canada’s ambassador to Washington, Mark Wiseman, said on Thursday that Ottawa could not accept a trade deal unless it ensured the survival of a robust Canadian auto assembly and parts industry.

Earlier this week, US President Trump threatened to raise tariffs on all Canadian cars, trucks, and automotive parts to 50% from January 1st, 2027, following the imposition of tariffs on a range of Canadian goods.

Major banks traded higher after a largely positive batch of earnings reports, with RBC, TD Bank, Scotiabank, and CIBC, all of which beat expectations, gaining about 1% each.

Tech stocks also extended gains following Nvidia’s strong results, with Shopify up more than 0.5%.



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TSX Nears Record High After GDP Release
The S&P/TSX Composite Index inched higher to trade near 37,000 on Friday following the release of GDP data. Canada's GDP expanded at an annualized rate of 3.3% in the second quarter, the strongest pace in nearly two years, providing some buffer against economic risks from ongoing trade disputes with the US. Canada’s ambassador to Washington, Mark Wiseman, said on Thursday that Ottawa could not accept a trade deal unless it ensured the survival of a robust Canadian auto assembly and parts industry. Earlier this week, US President Trump threatened to raise tariffs on all Canadian cars, trucks, and automotive parts to 50% from January 1st, 2027, following the imposition of tariffs on a range of Canadian goods. Major banks traded higher after a largely positive batch of earnings reports, with RBC, TD Bank, Scotiabank, and CIBC, all of which beat expectations, gaining about 1% each. Tech stocks also extended gains following Nvidia’s strong results, with Shopify up more than 0.5%.
2026-08-28
TSX Futures Little Changed After GDP Data
Futures tracking Canadian stocks were little changed on Friday following the release of GDP data. Canada’s GDP expanded at an annualized rate of 3.3% in the second quarter, the strongest pace in nearly two years, adding to some buffer amid economic risks from trade disputes with the US. Canada’s ambassador to Washington, Mark Wiseman, said on Thursday that Ottawa could not accept a trade deal unless it ensured the survival of a robust Canadian auto assembly and parts industry. This week, US President Trump threatened on Monday to raise tariffs on all Canadian cars, trucks, and automotive parts to 50% from January 1st, 2027. The US also imposed 50% tariffs on selected Canadian goods on Saturday, including furniture, plastics, plywood, and electrical equipment, on top of existing duties on steel, lumber, and autos. Canada responded with retaliatory tariffs on about $20 billion of annual US imports. Concerns are that the trade tensions could derail the economic recovery.
2026-08-28
TSX Edges Higher on Mining and Energy Gains
The S&P/TSX Composite Index edged 0.1% higher to close at 36,834 on Thursday, supported by gains in gold miners, energy producers and technology stocks. Gold prices firmed as concerns over global debt continued to support demand for the precious metal, lending support to miners. Agnico Eagle rose 0.5%, Barrick added 0.6%, WPM advanced 1.2% and Franco-Nevada gained 1.4%. Crude prices moved higher after the US and Iran traded recriminations over the US pledge to increase economic pressure on Iran, lifting energy stocks. Suncor rose 1% and Cenovus gained 0.6%. Strong results from Nvidia supported the technology sector, with Shopify rising 2.5%, Constellation Software adding 1.8% and Celestica advancing 3.2%. In the financial sector, renewed inflation concerns from energy costs offset a positive batch of bank earnings. RBC shed 1.6% and CIBC lost 2.8% despite beating estimates. Meanwhile, TD Bank gained 1.2% after reporting a 38% rise in net income.
2026-08-27