Shopify Surges to Record High, TSX Hits New Peak Amid Q2 Earnings Beat

The TSX index fell 125 points at midday, with most sectors lower. However, Shopify surged in Q2 with 31% growth, driven by international and enterprise gains, according to Morgan Stanley. Several analysts raised their price targets on Shopify, including RBC to $170, UBS to $145, Truist to $150, Deutsche Bank to $185, and Morgan Stanley to $165. The stock rose 21.5% on Q2 earnings beat.