27.10.202513:47:30UTC+00TSX Struggles for Direction

On Monday, the S&P/TSX Composite Index hovered around the 30,350 level, as gains in the technology and financial sectors were balanced out by declines in major mining stocks. Investors were processing new developments in trade relations between the United States and China, while tensions with Canada lingered. On Sunday, top economic officials from China and the U.S. outlined a trade agreement framework for Presidents Trump and Xi to consider later in the week in South Korea, boosting investor risk appetite. Celestica experienced a 4% surge ahead of its post-market earnings report, Shopify and Constellation Software each saw an increase of approximately 0.5%, and Brookfield went up by 1.5%. The energy sector strengthened, yet the index's upward movement was constrained by a decline in shares of Agnico Eagle, Wheaton Precious Metals, Barrick, and Franco-Nevada, each dropping between 2% and 3.2% as demand for safe-haven assets diminished. The situation remains complex following President Trump's decision on Thursday to conclude trade negotiations with Ottawa due to a tariff-related advertisement, along with his subsequent threat to further increase Canadian tariffs by 10%.