TSX Lifted by Nvidia Driven Tech Rally

The S&P/TSX Composite Index rose about 0.6% to above the 30,200 mark on Thursday, snapping a two-day slide as US markets rallied after strong Nvidia results eased fears the AI rally was detached from fundamentals.

Nvidia signalled sustained demand for AI infrastructure, which lifted tech names and helped push Shopify up over 4% and Celestica more than 5% on hopes for higher earnings.

Improved risk appetite also buoyed industrials and miners exposed to datacentre builds, while a rebound in crude supported major energy producers listed in Toronto.

On the policy front, the Bank of Canada called for a coordinated push to lift productivity amid growing headwinds from US trade policy.

Economically, Statistics Canada reported the industrial product price index up 6.0% year on year and the raw materials price index up 5.8% year on year.