TSX Keeps Climbing—Tech & Energy Stocks Are On Fire
So the TSX just wrapped up another winning week—no big surprise if you’ve been watching tech and energy stocks lately. Honestly, it’s been a while since we’ve seen this kind of momentum. But here’s the thing: while the numbers look great, there’s always that little voice in the back of your head asking, “How long can this last?”
Breaking Down This Week’s Numbers
The TSX jumped about 1.8% this week—that’s around 350 points if you’re counting. Not too shabby, right? And get this: tech stocks went wild with a 3.2% bump, while energy wasn’t far behind at 2.5%. Even mining chipped in, though it was more of a slow-and-steady play.
What’s really interesting? This is the second straight week of gains. Feels like the market’s finally shaking off that sluggish start to the quarter. But let’s not get ahead of ourselves.
Tech Stocks: The Big Winners
Who’s Crushing It?
Shopify (SHOP.TO) was the star of the show—up 5.6% after their earnings blew past expectations. Turns out more businesses are jumping on their platform, and their margins are looking healthier. Not bad for a company some folks were ready to write off last year.
Then there’s Constellation Software (CSU.TO), climbing 4.1%. Their enterprise solutions? Apparently everyone wants a piece. And let’s not forget CGI Group (GIB.A.TO) and Lightspeed (LSPD.TO), both up over 3%. Feels like 2021 all over again, doesn’t it?
Why Tech’s Hot Again
Here’s the deal: what’s happening in the U.S. with AI and cloud computing? It’s spilling over here. Investors can’t get enough of this stuff—especially now that rate hike fears are cooling off. I mean, when was the last time you heard someone say “generative AI” without getting excited?
Energy’s Making a Comeback
Oil’s Back in the Game
WTI crude hit $78 this week, and suddenly everyone’s loving energy stocks again. Suncor (SU.TO) and CNQ (CNQ.TO) both popped 2.8%, with Cenovus (CVE.TO) right there with them. Tight supplies and steady demand—that’s the magic combo.
But here’s something funny: even renewables got a boost. Brookfield Renewable (BEP.UN.TO) rose 2.3%, probably because governments keep throwing money at clean energy. Still, old-school oil and gas are leading the charge.
Mining & Oil: The Steady Players
Gold & Copper Doing Their Thing
Gold’s chilling around $1,950, which helped Barrick (ABX.TO) gain 1.9%. And copper? First Quantum (FM.TO) jumped 2.1% as factories keep humming along. These stocks won’t make headlines like tech, but they’re the reliable workhorses of the TSX.
Pipeline News You Might’ve Missed
Enbridge (ENB.TO) got some regulatory green light—nothing flashy, but these steady wins matter. Meanwhile, OPEC+ cuts and Middle East tensions are keeping oil markets… interesting. Canadian producers? They’re just happy prices aren’t swinging wildly for once.
What’s Really Driving the Market?
On one hand, Canada’s GDP numbers looked decent, and foreign investors are sniffing around our tech and energy plays again. But—and there’s always a but—inflation’s still being stubborn. The Bank of Canada isn’t popping champagne just yet.
Compared globally? We’re beating the FTSE but can’t quite catch the S&P 500’s tech-fueled rally. Europe’s all over the place—nobody really knows what central banks will do next.
Okay, Now the Bad News
Let’s be real: tech stocks could get smacked down if valuations get too frothy. And energy? One bad demand forecast and poof—there go those gains. Plus, higher interest rates might start pinching corporate profits sooner than we think.
Then there’s the geopolitical stuff—U.S.-China tensions, random regulations popping up, potential tax changes. It’s enough to make your head spin if you think about it too much.
The Bottom Line
The TSX is on a roll, no question. Tech’s exciting again, energy’s finding its footing, and even the steady sectors are contributing. But here’s my take: enjoy the ride, just don’t get reckless. Spread your bets, keep an eye on those risks, and maybe—just maybe—this momentum has legs.
Or not. That’s the fun of markets, right?