Canada's TSX Hits Record High on Strong Bank Earnings and Sector Gains

Canada's TSX Composite Index reached a new record high, rising 0.5% to 34,127.33, driven by strong bank earnings that exceeded expectations. Financials gained notably, with National Bank of Canada and Bank of Montreal shares rising significantly. The materials sector also advanced, supported by metal mining shares. Technology stocks rebounded amid easing concerns over AI disruption. However, energy stocks declined slightly due to lower oil prices, and consumer staples fell after Loblaw Companies missed revenue estimates. Canada is also negotiating with the U.S. to remove tariffs on key sectors.