The S&P/TSX Composite jumped 1.3% to close at 27,921 on Wednesday, setting fresh record highs as investors bought the dip after last week’s selloff on renewed hopes for a September Fed rate cut and robust commodity and earnings news. Shopify led the rally with a surge of 21.5% after reporting Q2 revenue up 31% year-over-year and operating income rising 17%, both ahead of forecasts, and guiding Q3 revenue growth to the mid-to-high 20% range. Suncor slid 0.3% despite beating estimates as falling oil prices dragged down energy peers. Thomson Reuters shares plunged 10.1% after Q2 revenue of 1.785 billion missed the 1.792 billion consensus due to a 5% drag from acquisitions and disposals, undermining confidence even as EPS beat analysts and core growth remained strong. Canada’s private-sector PMI stayed in contraction for its eighth month at 48.7 in July, up from 44.0 in June, with manufacturing easing to 46.1 and services to 49.3.