The Canadian stock market continued to surge for a second consecutive session on Friday as weaker-than-expected U.S. personal consumption expenditure data raised the possibility that the Federal Reserve could start slashing interest rates soon. The S&P/TSX Composite Index climbed by 119 points, or 0.5%, to settle at 23,346, close to its all-time high.
Even though an intraday selloff in West Texas Intermediate crude oil futures prices drove energy stocks downward, strong gains in all other key market sectors, including consumer cyclicals, technology, and financials, helped the TSX benchmark inch up.
Top TSX Composite movers and active stocks
Capstone Copper, Hudbay Minerals, Stella-Jones, and Cargojet were the top-performing TSX stocks for the day, with each climbing by at least 2.8%.
In contrast, shares of Laurentian Bank of Canada (TSX:LB) plunged by 4.3% to $25.81 per share, making it the worst-performing TSX stock for the day….
