TSX rises nearly 100 points on tech stocks, U.S. markets also positive

TORONTO – Canada’s main stock index rose nearly 100 points, as gains in technology stocks offset losses elsewhere, while U.S. markets were also positive.

The S&P/TSX composite index was up 97.15 points at 36,759.29.

Brian Madden, chief investment officer with First Avenue Investment Counsel, said gains in Canada’s tech sector benefited from a spillover effect from U.S. tech names.

“The TSX tech stocks are also very strong today broadly but the rest of the market, not so much,” he said.

The basic materials sector led the declines as gold prices moved lower. The December gold contract was down US$47.10 at US$4,420.40 an ounce.

“Gold is down today, I think what we’re seeing is maybe a bit of a counter-trend (and) profit-taking in the sector,” Madden said.

He said gold prices had seen some weakness after reaching parabolic highs in January.

“It’s getting back in gear now and a lot more voices are turning bullish on it again,” he said.

Meanwhile, Canadian investors continued to digest fresh earnings reports this week.

“Earnings in general for the TSX have been excellent,” Madden said. However, he added that the pace of earnings growth is unlikely to be sustainable.

Investors are also navigating the current bout of Canada-U.S. trade tensions ahead of a new round of 50 per cent tariffs on a range of Canadian goods that is set to take effect Aug. 19.

“What most of us in seats like mine have learned to do and not to do over the last 18 months is react to headlines about trade or tariffs because there’s probably as much, if not more, misinformation than information,” Madden said.

Canada-U.S. Trade Minister Dominic LeBlanc is set to meet with United States Trade Representative Jamieson Greer on Thursday as the tariff deadline approaches.

The U.S. stock market rose to an all-time high Thursday following the latest sign that inflation is getting less bad.

The Dow Jones industrial average was up 69.72 points at 53,839.99. The S&P 500 index was up 50.49 points at 7,798.99, while the Nasdaq composite was up 214.54 points at 26,803.02.

Wall Street relaxed after a report showed prices at the U.S. wholesale level were 4.7 per cent higher last month than a year earlier. While that’s more painful than anyone would like, it’s not as bad as June’s 5.5 per cent inflation rate at the wholesale level, and it was slightly better than economists expected.

If inflation continues to trend that way, the U.S. Federal Reserve could decide to hold off on hikes to interest rates.

The Canadian dollar traded for 71.75 cents US compared with 71.79 cents US on Wednesday.

The September crude oil contract was down US$2.02 at US$81.25 per barrel.

This report by The Canadian Press was first published Aug. 13, 2026.

—With files from The Associated Press

Companies in this story: (TSX: GSPTSE, TSX: CADUSD, TSX: CAE, TSX: CTC. A)