15.09.202520:22:06UTC+00TSX Sets Fresh Record High

The S&P/TSX Composite Index advanced by 0.5% to reach a new peak of 29,431 on Monday. This increase happened as investors remained focused on forthcoming policy decisions from major central banks in North America. Most sectors recorded gains, spearheaded by the tech industry, as Shopify, a major player in the sector, saw a 2.6% increase. This was followed by a 1.9% rise in Brookfield, a leading name in the financial sector, and a 2.2% gain for Canadian Natural Resources, a heavyweight in energy production. Market expectations are leaning towards a 25 basis point interest rate cut by the Bank of Canada on Wednesday, due to indications of a softening labor market and reduced economic activity, with anticipation of another cut in the subsequent quarter. Similarly, the Federal Reserve is anticipated to implement a 25 basis point cut at its forthcoming meeting, with a slim possibility of a more significant adjustment, and further easing is expected by traders before the year concludes.