Canadian Stocks Hit Record High Despite Mixed Economic Signals

UPDATE: Canadian stocks are surging, with the S&P/TSX Composite Index hitting an all-time high of 30,023 on October 1, 2025. This marks a significant milestone as the index closes above 30,000 for the first time, reflecting a robust market despite weaker-than-expected U.S. consumer confidence data.

On Tuesday, the index advanced by 51 points, or 0.2%, driven by record-high gold prices and strong job openings in the U.S. Investors have shifted towards defensive and commodity-linked sectors, counterbalancing declines in healthcare and consumer discretionary stocks. Notably, the TSX Composite posted a remarkable 5.1% gain over the past month, concluding the quarter with an impressive 11.8% increase—the best performance since mid-2020.

In a standout move, shares of Stella-Jones (TSX:SJ) surged by 4.1% to $79.41 following the announcement of a $140 million acquisition of Brooks Manufacturing, a U.S. company specializing in treated wood products. This strategic expansion is expected to enhance Stella-Jones’ utility product offerings and unlock new growth avenues in the infrastructure market.

As gold prices continue to soar, stocks of NovaGold Resources, New Gold, and Aya Gold & Silver also experienced gains of over 3.1% each. Conversely, companies like Curaleaf Holdings and Tourmaline Oil faced declines of at least 4.3%, highlighting the volatility in market sectors.

Looking ahead to today, gold and silver prices are expected to maintain their strength, while oil and base metals face pressure. Investors are closely monitoring key U.S. indicators, including non-farm employment and manufacturing data, which could influence market sentiment.

Additionally, the potential for a U.S. government shutdown could introduce further volatility into markets. Investors are weighing the implications of stalled economic data and delayed payments. Historically, such shutdowns have prompted safe-haven flows into gold and commodities, potentially cushioning the TSX from broader market disruptions.

In corporate news, NovaGold Resources is set to release its latest quarterly results today, an announcement that could further impact market dynamics.

Stay tuned for more updates as the situation develops. The TSX continues to be a focal point for investors, reflecting broader economic trends and sector shifts in real-time.