The S&P/TSX Composite climbed 0.9% to a record high of 27,387 on Thursday, driven by standout gains in consumer staples and tech heavyweights amid fresh trade-war developments. Alimentation?Couche-Tard surged 8.3% after abandoning its US?$46?billion bid for Seven?&?i, thereby freeing up capital for more accretive opportunities, while Shopify jumped 6.2% on robust merchant metrics, even as materials stocks pulled back on softer commodity prices. Meanwhile, Ottawa’s move to impose steel-tariff quotas on FTA partners, with USMCA exemptions preserved, reassured investors that Canada’s steel industry will be insulated from Washington’s 50% duties, and firmer US retail sales and resilient jobless claims sustained demand for risk assets. Domestic indicators, a 0.1% uptick in May wholesale trade and a 2.8% June increase in home sales, further highlighted the resilience of Canada’s economic momentum.