Canada’s main stock index rose on Thursday on the first trading day of 2025 as a jump in commodity prices boosted energy and metal mining shares, with the index clawing back some of its December decline. Wall Street see-sawed to a lower close.
The S&P/TSX composite index ended up 170.09 points, or 0.7%, at 24,898.03, its highest closing level since Dec. 17.
For 2024, the TSX gained nearly 18%, its biggest yearly advance since 2021. But it was down 3.6% in December as a hawkish shift by the Federal Reserve contributed to an increase in long-term U.S. borrowing costs.
“Much like a surprise holiday guest, December’s market shift was uninvited and unplanned,” Greg Taylor, chief investment officer of Purpose Investments, said in a note. “We may be entering a new normal with more moderate returns and higher volatility. Tactical strategies and hedging will be key to navigating this period.”
Domestic data was upbeat. It showed that…
