TSX Edges Higher as Energy Gains Offset Tech Selloff

The S&P/TSX Composite Index edged 0.1% higher to close at 36,177 on Friday, trimming earlier gains amid a deepening selloff in the North American tech sector. Shopify tumbled 5.1% as the selloff in Wall Street chipmakers extended into an eighth consecutive session, marking the sector’s longest losing streak since the 2008 financial crisis. Shopify’s partnership with Meta has further increased its exposure to the AI trade. Celestica fell 3.9%, while Constellation Software dropped 3%. In contrast, energy producers lifted the index as oil prices rallied amid mounting supply risks. Canadian Natural Resources rose 3.2%, Suncor and Cenovus each gained 2.7%, and Imperial Oil added 2.9%. Energy infrastructure stocks also helped offset losses, with Enbridge advancing 2.3%. Banking stocks were subdued following hawkish remarks from the Bank of Canada governor. Miners closed mixed as gold and silver prices declined.