Canadian stocks rallied sharply on Friday after the Federal Reserve Chair Jerome Powell, during his speech at Jackson Hole, hinted that the U.S. central bank is likely to start slashing interest rates in the near term, saying, “The time has come for policy to adjust.” Investors’ positive reaction to these comments and strengthening commodity prices helped the S&P/TSX Composite Index climb by 249 points, or 1.1%, for the day, reaching 23,286, a fresh all-time high.
While all key market sectors ended the day with handsome gains, the TSX rally was mainly led by notable advances in real estate, mining, and technology stocks.
Top TSX Composite movers and active stocks
Denison Mines (TSX:DML) jumped by nearly 13% to $2.29 per share, making it the session’s top-performing TSX stock. These solid gains in DML stock came after Kazatomprom, the world’s largest uranium producer, lowered its 2025 production target by 17% due to…
