Canada’s benchmark stock index climbed on Thursday, lifted by a rally in commodity prices, particularly crude oil and gold. Investors are now turning their attention to upcoming Canadian retail sales figures, which are expected to shed light on domestic consumer behavior.
The energy sector led the gains, driven by a sharp 4 per cent surge in oil prices following the US government’s decision to sanction Russian oil giants Rosneft and Lukoil in response to the ongoing conflict in Ukraine. Meanwhile, gold prices rebounded as escalating geopolitical tensions—including potential new export restrictions targeting China—sparked increased demand for safe-haven assets.
Traders are also closely watching earnings reports from major US corporations, which many view as pivotal to sustaining the current bull market momentum. So far, over 75 per cent of S&P 500 companies that have reported have surpassed analysts’ expectations.
Trade relations remain in focus as well. President Donald Trump announced Wednesday evening that a meeting with Chinese President Xi Jinping is officially on the schedule, helping ease investor concerns over US-China tensions that had weighed on markets earlier in the week.
| TSX | 30,186.28 | +203.30 |  |
| TSXV | 964.23 | +16.54 | |
| CSE | 174.06 | +4.01 | |
| DJIA | 46,734.61 | +144.20 | |
| NASDAQ | 22,941.80 | +201.40 | |
| S&P 500 | 6,738.44 | +39.04 | |
The Canadian dollar traded for 71.48 cents US compared to 71.47 cents US on Wednesday.
US crude futures traded US$3.18 higher at US$61.68 a barrel, and the Brent contract rose US$3.26 to US$65.85 a barrel.
The price of gold was up US$84.88 to US$4,134.93.
In world markets, the Nikkei was down a beastly 666.18 points to ¥48,641.61, the Hang Seng was up 186.21 points to HK$25,967.98, the FTSE was up 63.57 points to ₤9,578.57, and the DAX was up 56.66 points to €24,207.79.
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