28.10.202513:47:46UTC+00TSX Lifted by Tech

On Tuesday, the S&P/TSX Composite climbed approximately 0.3%, surpassing the 30,350 threshold. This upward movement was driven by gains in technology stocks, which balanced out the decline in commodity producers, as investors anticipated rate decisions in North America and a series of major corporate earnings reports. Notably, data center company Celestica surged by over 14% after it elevated its 2025 revenue forecast and posted third-quarter revenue and profit figures that exceeded analysts' projections. Conversely, Agnico Eagle was among the prominent mining stocks experiencing a decline, dropping around 1.5% following a downgrade from Weiss Ratings, shifting its status from “buy (a)” to “buy (b+)” ahead of anticipated results showcasing higher revenue and earnings. Oil producers faced challenges as WTI crude prices decreased and the market assessed the impact of an OPEC+ production increase. Canadian Natural, the largest oil company in Canada, is set to announce its earnings on Thursday, with expectations of higher revenue but diminished earnings. Investors remain keenly focused on the forthcoming interest rate cuts, with both the Bank of Canada and the US Federal Reserve predicted to reduce policy rates by 25 basis points this week.