Canada Stocks: TSX rises to record high as tech rally extends winning streak
06/10/2025 15:47
Updates with morning prices By Ragini Mathur Oct 6 (Reuters) - Canada's main stock index continued its winning streak, surging to a fresh record high on Monday, fueled by gains in technology stocks and positive sentiment from Wall Street. Toronto's S&P/TSX composite index .GSPTSE climbed 0.2% at 30533.91 points, on track for its seventh consecutive session of gains and building on its 2.4% gain from the previous week. The bullish momentum mirrored Wall Street, where markets rallied after AMD AMD.O announced a chip-supply partnership with OpenAI, becoming the latest in a series of artificial intelligence deals that drove markets higher recently. TSX's information and technology sector .SPTTTK gained 1%. Cryptocurrency miner Bitfarms BITF.TO soared 14.7% as bitcoin hovered near an all-time high. Materials stocks .GSPTTMT added 1.4%, bolstered by gold prices reaching historic highs. The precious metal benefited from safe-haven demand and growing expectations for an interest rate cut at the U.S. Federal Reserve's October meeting. GOL/ While a U.S. government shutdown entering its sixth day has paused economic data releases south of the border, Canadian investors are turning their attention to domestic employment figures expected later this week. "The employment numbers are critically important, especially considering Canada's deeply concerning job data from the past two months," noted Colin Cieszynski, chief market strategist at SIA Wealth Management. "We're watching closely to see if there's a rebound or if the negative trend continues." "The employment numbers will be interpreted through the lens of whether the Bank of Canada needs to implement further rate cuts." Back in markets, the energy sector .SPTTEN contributed to the positive momentum, rising 1.2%, after oil prices increased about 1% on the day as OPEC+'s planned production increase for November was more modest than expected. O/R Healthcare stocks .GSPTTHC, however, emerged as the day's worst performer, declining 1.2%. (Reporting by Ragini Mathur in Bengaluru; Editing by Vijay Kishore) ((Ragini.Mathur@thomsonreuters.com;))