TSX Climbs to New Record High, Extends Weekly Gains
The S&P/TSX composite index closed at a record high of 27,036.16, up 0.01%, with the real estate and consumer staples sectors leading the way. For the week, the index gained 1.29%.
TsxStock MarketReal EstateConsumer StaplesEnergyReal EstateJul 05, 2025
The real estate sector saw a significant boost, rising 1.9% as the Canadian 10-year yield eased 4.1 basis points to 3.353%. This positive movement was further supported by data showing that Toronto-area home sales increased for the third consecutive month in June. Consumer staples also contributed to the gains, rising 0.4%.
Mike Archibald, a portfolio manager at AGF Investments, commented on the market's performance, noting that the TSX continues to grind higher. He highlighted the strength of heavily weighted bank stocks and the materials group, which includes gold mining shares, as key factors in the index's resilience.
Volumes were lower than usual on Friday, with U.S. markets closed for the Independence Day holiday. Despite this, the market showed positive signs, with Archibald pointing out that the tax bill passing in the U.S. has provided additional confidence. U.S. President Donald Trump was scheduled to sign a massive package of tax and spending cuts into law at a ceremony at the White House, following the Republican-controlled House of Representatives' approval of the legislation.
However, not all sectors were in the green. Four of the ten major sectors ended lower, including technology, which dipped 0.3%, and energy. The energy sector was down 0.2% as U.S. crude oil futures fell 0.75% to $66.50 a barrel, ahead of an expected OPEC output increase. Canada's federal government has not received any private sector proposals to build a new crude pipeline to the Pacific coast, according to Natural Resources Minister Tim Hodgson.
Despite these challenges, the overall sentiment remains positive, with the TSX extending its record-setting run and showing resilience in the face of various market dynamics.
Frequently Asked Questions
What was the closing value of the S&P/TSX composite index on Friday?
The S&P/TSX composite index closed at 27,036.16 on Friday, up 0.01%.
Which sectors led the gains in the TSX on Friday?
The real estate and consumer staples sectors led the gains in the TSX on Friday.
How much did the TSX gain over the week?
The TSX gained 1.29% over the week.
What was the impact of lower U.S. market volumes on Friday?
Lower U.S. market volumes on Friday, due to the Independence Day holiday, did not significantly impact the TSX's performance, which still managed to close at a record high.
Why did the energy sector decline on Friday?
The energy sector declined on Friday as U.S. crude oil futures fell 0.75% to $66.50 a barrel, ahead of an expected OPEC output increase.
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