Canada's TSX Hits Record High on Earnings and Global Investor Buying

The Toronto Stock Exchange's S&P/TSX composite index reached a record high, rising 1.1% to 27,861.75 points. The gain was driven by strong corporate earnings and investor demand following recent market weakness. The index opened at its highest level ever, with global investors buying into the dip.

The Toronto Stock Exchange's S&P/TSX composite index reached a record high, rising 1.1% to 27,861.75 points on Wednesday, July 2, 2025. The gain was driven by strong corporate earnings and investor demand following recent market weakness. The index opened at its highest level ever, with global investors buying into the dip.

Futures linked to Canada's main stock exchange pointed higher on Wednesday, with the S&P/TSX 60 index standard futures contract rising by 15 points, or 0.9%, by 07:36 ET (11:36 GMT). The market was bolstered by dip buying by investors and the flow of more corporate earnings. This rebound comes after the index jumped by 2% on Tuesday, rebounding from three consecutive negative days and notching its largest increase since April 11. It closed above a recent record high as well [1].

Markets were keeping tabs on the latest trade negotiations, with Canada's top diplomat noting that Canadian ministers held a "productive" meeting with Mexican President Claudia Sheinbaum to address the impact of U.S. President Donald Trump’s sweeping tariffs. The e-commerce giant Shopify (NASDAQ:SHOP) unveiled a third-quarter revenue outlook that exceeded market estimates, citing benefits from its artificial intelligence enhancements and platform upgrades that helped offset potential tariff headwinds. U.S.-listed shares of Shopify soared by almost 10% in premarket trading [1].

U.S. stock index futures also edged higher, bouncing after the previous session’s weakness. Dow Jones Futures gained 169 points, or 0.4%, S&P 500 Futures rose 16 points, or 0.3%, and Nasdaq 100 Futures moved up by 16 points, or 0.3% [1].

The Toronto Stock Exchange's S&P/TSX Composite rose about 0.2% to above the 27,400 mark on Thursday, paring yesterday's losses as a mix of upbeat corporate results, resilient commodity prices, and stabilizing economic forecasts bolstered Canada’s largest equities. In information technology, Shopify and Constellation Software outperformed after Meta’s over 12% and Microsoft’s over 5% rallies fueled global tech optimism [2].

Oil prices rose, rebounding from the previous session’s five-week low, with the prospect of tighter U.S. sanctions against the buyers of Russian oil offering some support. Gold prices slipped, consolidating after four days of gains, as investors digested weak U.S. economic data and Trump’s potential appointment to a vacant seat on the Federal Reserve’s board [1].

References:

[1] https://www.investing.com/news/stock-market-news/tsx-futures-climb-amid-dipbuying-corporate-earnings-4173075
[2] https://www.tradingview.com/news/te_news:474244:0-tsx-rebounds-on-thursday/