FX.co ★ TSX Lifted by Moderate Tariff Outlook

The S&P/TSX Composite Index surged by approximately 1% on Monday, surpassing the 25,200 threshold. This upward movement came as investors responded positively to signs that the United States may opt for a more restrained and strategic approach to impending tariffs. Such a stance alleviates concerns over potential trade disruptions that could affect Canadian enterprises. This wave of optimism has also swept across Wall Street, where substantial gains among major indices have contributed to a broader market rally. Domestically, most stocks showed solid growth, highlighted by impressive performances from leading tech and financial firms, including RBC, which rose by 1.3%, Shopify at 2.9%, TD Bank at 1.7%, and Brookfield at 2.3%. On the economic front, preliminary figures suggest that manufacturing sales in Canada dipped by 0.2% in February compared to a 1.7% rise in January. Despite this, the prevailing market sentiment remains positive, driven by expectations of a more predictable and stable trade environment.