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2025.09.1120:02:04UTC+00TSX Closes at Historic High

The S&P/TSX Composite Index advanced by 0.8%, reaching a record close of 29,408 on Thursday. This upturn followed similar gains in U.S. markets, driven by softer U.S. CPI data and new indications of labor-market weakness that dampened the economic outlook. Jobless claims surged to their highest level in nearly four years in early September, reinforcing underwhelming payroll revisions and highlighting a move away from the previous resilience to higher interest rates. Rate futures are currently factoring in approximately 75 basis points of rate cuts by the Federal Reserve this year, suggesting a potential reduction at each of the remaining three Federal Open Market Committee (FOMC) meetings, starting next week. Leading this upward trend were major tech and financial firms, with Shopify increasing by 1.7% and Brookfield climbing 2.2%, which more than compensated for declines in commodity sectors, as oil and gold saw a pullback.

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