TSX Extends Record High Amid Cargojet Boost

The TSX composite index finished narrowly positive, adding to its all-time highs. The gain was led by the utilities and industrial sectors.

Kevin Burkett, a portfolio manager at Burkett Asset Management, attributed the market's performance to earnings, saying 'Markets have been buoyed by earnings. I think that there’s pretty tremendous optimism in markets right now.'

Cargojet shares rose 8.59% after reporting a $7 million second-quarter profit, up from a $3.2 million loss last year. However, Cineplex Inc. lost 5.3% despite swinging to a profit in the same quarter.

Burkett noted that recent Canada-U.S. trade tensions have not significantly impacted markets, with investors 'desensitized' to related rhetoric. The Canadian dollar traded at 71.80 cents US, while crude oil rose to $83.20 per barrel and gold increased to $4,441.10 an ounce.