The Globe and Mail reports in its Wednesday edition that Canada's main stock index rose to a record high Tuesday as gains for technology shares, led by Shopify, offset pressure on resource shares owing to a stronger U.S. dollar. A Reuters dispatch to The Globe says Wall Street indexes closed lower, with investors booking some profits from a postelection rally and nervously watching a further rise in bond yields. The S&P/TSX Composite Index ended up 133.73 points at 24,923.01, eclipsing the record closing high it notched last Thursday. Shares of Shopify jumped 21.4 per cent after the company forecast fourth-quarter sales growth above estimates as a focus on employing AI-powered tools in its e-commerce services pulled in more merchants ahead of the crucial holiday season. Shopify also topped market expectations for third-quarter revenue. The U.S. dollar climbed to a six-month high against a basket of major currencies, while the U.S. 10-year bond yield was up 12 basis points at about 4.43 per cent. Jack Ablin, chief investment officer at Cresset Capital, said: "The problem is between tariffs, tax cuts and immigration restrictions. It really is pushing on creating inflation pressure that the bond market can't ignore."
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