Canada Stocks-TSX ends higher as US inflation data trims Fed rate hike bets

SPY•2026-07-14

Bank of Canada meeting in focus

Meanwhile, the Bank of Canada is expected to keep its key policy rate unchanged at 2.25% on Wednesday.

"People will be looking to see what kind of a reaction do we get in terms of any commentary from the Bank of Canada regarding inflation," said Colin Cieszynski, chief market strategist at SIA Wealth Management.

Separately, Reuters reported on Monday that Canada's federal banking regulator warned the country's largest financial institutions about the risks of Anthropic's Claude Mythos and other advanced AI models.

Materials and financials lead gains

The materials sector .GSPTTMT, which includes metal miners, gained 1.38% as metal prices jumped against a weaker dollar.
Trekor Metals TKO.TO advanced 12.25%, leading gains in the main index, while First Quantum Minerals FM.TO and Hudbay Minerals HBM.TO were up 8.26% and 6.76%, respectively.
Traders pared back some expectations of Fed interest rate hikes after data showed U.S. consumer inflation slowed more than expected in June as energy prices retreated.
Heavyweight financials .SPTTFS rose 0.8%; lenders Royal Bank of Canada RY.TO and TD Bank TD.TO ended up over 1% each with the financial index closing up 0.71%.
U.S. big banks posted strong earnings in the second quarter.

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Communications and industrial shares lag

On the downside, communications .GSPTTTS ended down almost 1.4%, with Rogers Communications RCIb.TO down close to 2%.
The industrial sector was among the losers of the day with Thomson Reuters TRI.TO ending down 3.2%, space and defense player MDA Space MDA.TO losing 2.98%.

TSX closes slightly higher after cooler U.S. inflation reading

Canada's main stock index closed slightly up on Tuesday, ending near the record high reached last month as financial and mining stocks advanced after data showed U.S. inflation was easing.

A softer-than-anticipated U.S. inflation reading tempered bets of a rate hike by the Federal Reserve and boosted risk appetite.

The Toronto Stock Exchange's S&P/TSX Composite Index .GSPTSE ended 0.19% to 35,320.54 points.

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