16.10.202620:46:46UTC+00TSX Edges Higher as Energy Gains Offset Tech Selloff

The S&P/TSX Composite Index inched up 0.1% to close at 36,177 on Friday, paring earlier gains as a broad selloff in North American technology stocks deepened. Shopify slid 5.1%, pressured by an eighth straight session of losses in U.S. chipmakers—the sector’s longest losing streak since the 2008 financial crisis. Shopify’s partnership with Meta has further heightened its exposure to the AI trade. Celestica declined 3.9%, while Constellation Software lost 3%.

By contrast, energy producers buoyed the index as crude prices climbed on growing supply concerns. Canadian Natural Resources advanced 3.2%, Suncor and Cenovus each rose 2.7%, and Imperial Oil gained 2.9%. Energy infrastructure names also helped offset tech-sector weakness, with Enbridge up 2.3%.

Bank stocks were muted after hawkish comments from the Bank of Canada’s governor, while miners ended mixed as gold and silver prices retreated. For the week, the S&P/TSX Composite Index was up 0.8%.