The S&P/TSX Composite Index rose 0.6% to close at a record 28,054 on Thursday, outperforming US benchmarks as investors reassessed the outlook for North American interest rates. Gains were led by miners after bullion prices strengthened, with Wheaton Precious Metals, Agnico Eagle, Barrick Gold, and Franco-Nevada advancing between 1.4% and 3%. Energy producers also benefited from higher crude prices, lifting Canadian Natural Resources, Suncor, Imperial Oil, and Cenovus by 1.4% to 2%. On the macro front, domestic producer prices climbed well above expectations, reducing the scope for further Bank of Canada rate cuts. Meanwhile, Air Canada added 1.3% after confirming plans to resume operations, though the stock remains down more than 10% this month following weak earnings, withdrawn guidance, and widespread disruptions from its prolonged aircrew strike. Looking ahead, attention turns to Fed Chair Powell’s remarks in Jackson Hole, with markets seeking clarity on policy direction.