Canadian stocks initially fell on profit booking but later rebounded as rate cut expectations from central banks in Canada and the U.S. increased, leading the S&P/TSX Composite Index to close at a new record high of 30,160.59, up by 0.18%. The healthcare sector led gains among the 11 sectors. The Bank of Canada and the U.S. Federal Reserve are set to announce interest rate decisions on October 29. Trump’s 35% tariffs on Canadian exports have impacted industries and jobs, with trade talks in limbo due to legal issues. The U.S. government shutdown is delaying key data releases, increasing expectations for rate cuts. Major gainers included Curaleaf Holdings Inc and Brp Inc, while losers included Skeena Resources Ltd and Novagold Res Inc.

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