2025.03.2420:02:09UTC+00TSX Gains Amid Tariff Optimism

On Monday, the S&P/TSX Composite Index rose by 1.3%, closing at 25,304, as investors breathed a sigh of relief over signs that the U.S. might implement a more restrained and focused strategy regarding upcoming tariffs. This development helped alleviate fears about potentially disruptive trade actions that could negatively affect the Canadian economy. This wave of optimism also spread across Wall Street, with significant advancements in key indices contributing to a wider market upswing. In Canada, the majority of stocks saw gains, particularly in the technology and financial sectors. Noteworthy performances were seen from major players such as RBC, which increased by 1.9%; Shopify, which surged by 4.7%; TD Bank, up by 1.6%; Brookfield, climbing by 3.1%; and Constellation Software, rising by 2.2%. While preliminary figures suggested a 0.2% month-over-month decline in Canadian manufacturing sales for February, following a 1.7% rise in January, the overall market outlook remains positive, driven by expectations of a more stable trade environment.