FX.co ★ TSX Extends Positive Momentum

On Wednesday, the S&P/TSX Composite Index increased by 0.7%, closing at 24,473. This rise continued from Tuesday's gains following President Trump's confirmation that Jerome Powell would remain as Federal Reserve Chair, coupled with announcements hinting at a major reduction in tariffs on China. This strengthened confidence in the autonomy of U.S. monetary policy and the prospects of trade. The technology sector spearheaded the ascent, with Shopify soaring by 6.6%, Celestica climbing 7.1%, and Constellation Software increasing by 2.7%. Major financial corporations also saw strong performances, with Brookfield rising 2.6%, Manulife Financial up by 2.3%, and Sun Life Financial growing by 1.6%. Meanwhile, notable declines in the mining sector were observed, as Agnico Eagle, Wheaton Precious Metals, and Barrick Gold each fell by over 1.9%, providing a counterbalance to the broader market upswing.