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The S&P/TSX Composite Index closed at a record high of 33,818 on Friday, rising 0.7% on the session to secure a weekly gain of more than 2% after the US Supreme Court struck down President Trump’s global tariffs. The decision sparked a relief rally in trade‑exposed names: Constellation Software and major industrials advanced more than 3%, while Shopify climbed 1.9%.
Mining stocks led the market higher. Lundin Mining surged 10.9% on stronger‑than‑expected results, and Wheaton Precious Metals gained 3.3%. Financials also ended the week on a firm note, with BMO and Royal Bank each adding roughly 1%, helping to offset investor unease over a softer 1.4% US GDP reading and persistently elevated inflation.
In contrast, energy producers such as Suncor and Imperial Oil slipped around 2% as crude prices surrendered earlier weekly gains, despite a 9 million‑barrel drawdown in US inventories. Overall, the benchmark index logged its best week since January, as the removal of tariff uncertainty and a late rally in materials overshadowed the risk posed by a new 10% global levy announced by the White House shortly before the close.
