The S&P/TSX Composite edged higher to above the 29,050 mark on Tuesday, looking to renew record highs as the commodity-heavy Toronto exchange was lifted by gains in oil and gold while investors priced a growing chance of interest rate cuts from the Bank of Canada and the US Federal Reserve later this month. Expectations that the BoC and the Fed will resume easing have supported markets since Friday after disappointing jobs data in both countries. Energy names Canadian Natural Resources, Suncor, Imperial Oil and Cenovus were among top performers, adding between 1.1% and 2.7% after OPEC+ agreed to a smaller-than-expected production increase and amid renewed US restrictions on Russian oil. Elsewhere London-listed Anglo American and Teck Resources announced plans to merge, sending Teck up more than 15%.