18.08.202520:03:25UTC+00TSX Edges Higher on Monday

On Monday, the S&P/TSX experienced a slight uptick, closing at 27,923, as investors refrained from making significant directional wagers in anticipation of Tuesday's Canadian Consumer Price Index (CPI) release and the onset of the Jackson Hole symposium on Friday. Market participants are particularly attuned to remarks from Federal Reserve Chair Jerome Powell and the minutes from the Federal Reserve, as the likelihood of an interest rate reduction in September has increased. Concurrently, the domestic inflation data will be scrutinized for insights that could influence the Bank of Canada's future policy decisions. In geopolitical developments, President Trump suggested that Ukraine should consider relinquishing its aspirations to reclaim Crimea and join NATO, a stance that appears to align more closely with Moscow's approach to a negotiated resolution. In terms of sector performance, Shopify saw a 1.1% increase, Thomson Reuters gained 0.9%, and Manulife rose by 0.7%, leading the day's advances. Conversely, gold-related companies like Wheaton Precious Metals and Franco-Nevada declined by over 0.7%, and the major entity Canadian Pacific Railway fell by 0.9%.