The muted theme of the week came to an end as Canada’s main stock index scored a triple-digit gain on Friday. The TSX struggled as the mining sector led losses for a second straight session though technology shares carried the weight of gains, as President Donald Trump suggested the United States might not strike a negotiated trade deal with Canada, suggesting his administration could impose tariffs independently.
Market sentiment this week was lifted by trade agreements the US reached with Japan, Indonesia, and the Philippines. Ongoing negotiations with the European Union and South Korea have further fueled optimism for additional deals.
Looking ahead, attention is turning to several key events next week, including monetary policy decisions from both the Bank of Canada and the US Federal Reserve, along with earnings reports from several major tech firms known as the “Magnificent Seven.”
According to a Reuters survey, economists expect the Bank of Canada to maintain its overnight interest rate at 2.75 per cent during its July 30 meeting, marking the third consecutive time the rate has remained unchanged.
| TSX | 27,494.35 | +122.09 |  |
| TSXV | 801.13 | -1.80 |  |
| CSE | 132.87 | +2.95 | |
| DJIA | 44,901.92 | +208.01 | |
| NASDAQ | 21,108.32 | +50.36 | |
| S&P 500 | 6,388.64 | +25.29 | |
The Canadian dollar traded for 72.94 cents US compared to 73.24 cents US on Thursday.
US crude futures traded $0.85 lower at US$65.18 a barrel, and the Brent contract lost $0.73 to US$68.45 a barrel.
The price of gold was down US$32.62 to US$3,336.43.
In world markets, the Nikkei was down 370.11 points to ¥41,456.23, the Hang Seng was down 278.83 points to HK$25,388.35, the FTSE was down 18.06 points to ₤9,120.31, and the DAX was down 78.43 points to €24,217.50.
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