TSX Ends Week in Record Territory
Canada's main stock index blasted through another record high on Friday, after weaker-than-expected domestic GDP data signaled potential interest rate cuts by the central bank.
The TSX Composite Index climbed 129.65 Friday to end the week at 28,564.45. On the week, the index gained 231 points, or 0.8%.
The Canadian dollar gathered 0.10 cents to 72.82 cents U.S.
Gold proved the leader Friday, with Seabridge towering $1.24, or 5.5%, over Thursday’s close to $23.94, while Centerra Gold captured 51 cents, or 4.7%, to $11.26.
In materials, Ivanhoe Mines tacked on 47 cents, or 3.9%, to $1215, while SSR Mining hiked $1.26, or 5%, to $26.41.
In health-care, Bausch Health Companies jumped 30 cents, or 3.1%, to $10.13, while Chartwell Retirement Residences units progressed 18 cents, or 1%, to $18.48.
Techs moved the other way, though, as Celestica collapsed $24.58, or 8.4%, to $267.63, while Computer Modeling Group erased 10 cents, or 1.6%, to $6.25.
Energy faltered, as Athabasca Oil gave back 13 cents, or 2.1%, to $6.04, while Cenovus Energy lost 49 cents, or 2.1%, to $22.85.
In utilities, Transalta fell 52 cents, or 3%, to $16.82, while Brookfield Renewable lost a dollar, or 2.8%, to $34.67.
On the economic front, Statistics Canada reported real gross domestic product declined 0.4% in the second quarter of 2025, following a 0.5% gain in the first quarter.
The contraction in the second quarter was driven by significant declines in the export of goods, as well as decreased business investment in machinery and equipment.
ON BAYSTREET
The TSX Venture Exchange regained 12.19 points, or 1.5%, to 829.57. On the week, the index perked nearly 26 points, or 2.3%.
Seven of the 12 TSX subgroups were higher on the day, with gold soaring 2.7%, materials stronger 2.3%, and health-care haler 1.6%.
The five laggards were weighed most by information technology, down 1%, while energy tailed off 0.4%, and utilities lost 0.2%.
ON WALLSTREET
Stocks fell on Friday as investors took some money off the table into a long weekend following a new S&P 500 record and solid Nvidia earnings this week. New inflation data showed rising prices were still a risk heading into the new month.
The Dow Jones Industrials lost 92.02 points to 45,544.88
The broader index lost 41.60 points to 6,460.26, though it enjoyed its fourth winning month in a row.
The NASDAQ doffed 249.61 points, or 1.2%, to 21,455.55
Even with Friday’s losses, the indexes are on track to close out August with solid gains. The 30-stock Dow has logged a more-than-3% advance in August, while the S&P 500 has tallied a near-2% advance. The tech-heavy NASDAQ has seen an August gain of more than 1%.
Core PCE, a key inflation measure watched by the Federal Reserve which excludes the costs of food and energy, increased 2.9% in July, in-line with expectations but an acceleration from the prior month and the highest level since February.
Nvidia was among Friday’s key laggards, as shares extended their recent losses with a fall of 3%. That comes after the Wall Street Journal reported that Chinese e-ecommerce giant Alibaba has created a more advanced chip as it looks to fill the gap left by Nvidia running into issues around selling its chips in China. U.S. shares of Alibaba were up 12%.
Nvidia finished slightly lower on Thursday after reporting strong 56% revenue growth for the prior quarter and largely validating the AI trade for investors.
Additionally, tariff concerns have come back to the fore following some troubling commentary.
Caterpillar, for example, warned it could see a $1.5-billion to $1.8-billion hit this year from President Donald Trump’s tariffs, sending shares 3% lower. Gap also recently said that tariffs will weigh on profits. Those two updates could be adding to downbeat sentiment Friday,
Prices for 10-year Treasury lost ground mid-Friday, lifting yields to 4.23% from Thursday’s 4.20%. Treasury prices and yields move in opposite directions.
Oil prices shed 62 cents to $63.98 U.S. a barrel.
Gold prices gained $41.50 at $3,515.80 U.S. an ounce.
