10:59:00 EDT Wed 29 Jul 2026
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Globe/wire say "rotation" helps lift TSX to record high

2026-07-29 09:13 ET - In the News

The Globe and Mail reports in its Wednesday edition that Canada's main stock index rose to another record high on Tuesday, benefiting from a global rotation out of semiconductor stocks into sectors more favourable for the domestic market. A Reuters dispatch to The Globe says the S&P/TSX Composite Index ended up 181.56 points at 35,749.70, eclipsing Monday's record closing high. The S&P 500 also rose as gains in Boeing and Coca-Cola helped offset tumbling chip stocks ahead of quarterly reports from Apple and other tech companies this week. Investors are shifting out of semiconductor stocks into financial and software plays. The Toronto tech sector rose 5.1 per cent, with shares of Celestica adding 9.5 per cent after the electronic equipment firm beat earnings estimates. Constellation Software was another standout, adding 6.4 per cent. Toronto's heavily weighted financials rose 1.1 per cent and consumer staples ended 2 per cent higher. Investors are awaiting an interest-rate decision by the U.S. Federal Reserve on Wednesday. Traders see a 71-per-cent probability that the central bank will leave rates unchanged. Chipmakers that have benefited from heavy artificial-intelligence spending added to recent losses.

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