S&P/TSX Composite closes at record 36,958 as Scotiabank jumps 7% ahead of Aug. 26 data, earnings
AI Market Summary
Canada's TSX hit a fresh record as strong bank earnings, led by Scotiabank's outsized gain on higher adjusted profit, offset weakness in cyclicals. However, early declines in oil and gold, plus heightened U.S.-Iran tensions and Canada-U.S. tariff escalation, may pressure commodity-linked sectors at the open. Focus shifts to U.S. PCE inflation and GDP data for broader risk and rate sensitivity, and upcoming Canadian bank results.
Impact level
● Medium
Affected assets
NCSISP5002USD/USDT+0.63%
AI Insight · NCSISP5002USD/USDTAI Insight
● Neutral
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The S&P/TSX Composite Index closed at a record 36,958 on Tuesday, extending its advance to a third straight session. Bank of Nova Scotia shares jumped 7% after the lender reported an 18% year-over-year rise in adjusted net income for the July quarter. Energy and gold stocks were also active. At Wednesday’s open, falling oil and gold prices could weigh on the index as investors watch results from National Bank of Canada and EQB, along with U.S. inflation and GDP data.
