Canadian stocks reach record highs on decent trade data and strong US job numbers

Canadian stocks reached new record highs, with S&P/TSX Composite Index closing at 27,034.26, up 0.61%. Trade deficits narrowed in May, as imports decreased by 1.6% and exports to non-US countries increased by 5.7%. US jobs data showed strong payroll numbers, with an increase of 147,000 jobs and unemployment rate falling to 4.1% in June. Fed Chair Powell hints at a “wait-and-watch” approach with interest rate cuts. Trump pushes for interest rate cuts and signs a multi-trillion-dollar tax and spending bill. Tecsys Inc, Celestica, Metro Inc, and George Weston were top gainers, while Nuvista Energy, International Petroleum, Bausch Health, and Sienna Senior were notable losers. Cargojet Inc, Ces Energy Solutions, and Terravest Capital were high gainers in the market.

Read more at Nasdaq.: Canadian Stocks Supported By Decent Trade Data