TSX Soars to Record High on Soft US Inflation

The TSX Composite Index reached an all-time high of 36,662 on Wednesday, adding 0.5% to its value.

This milestone comes after US inflation data was released, showing a slight easing to 3.4% in July from 3.5%, aligning with forecasts.

The soft labor market data and in-line inflation reading have led many to believe that the Federal Reserve will refrain from hiking interest rates, which is benefiting North American equities.

Major banks like RBC and TD Bank saw gains of 1.5% and 1.7%, respectively, while miners such as Agnico Eagle and Barrick advanced amid higher gold prices.