The S&P/TSX Composite Index rose nearly 1% to trade above 36,500 after US President Donald Trump paused new tariffs on Canadian goods. Trump announced late Tuesday that he was putting a three-day pause on the new 50% tariffs that were set to take effect on Wednesday, saying the two countries had reached a deal. The prospect of a deal lent support to Canadian exporters, with Magna International adding 1% and Nutrien rising nearly 2%. Oil prices hit a three-week high as uncertainty over shipping through the Strait of Hormuz and ongoing supply disruptions persisted, supporting energy producers. Suncor and Tourmaline Oil added about 1%. Gold prices were supported by a weaker dollar as global bond yields stabilized, boosting mining stocks. Agnico Eagle jumped 7%, while Barrick and WPM rose about 6% each. Meanwhile, financials remained pressured amid energy-driven inflationary pressures stemming from the Middle East conflict and ahead of the release of the US Fed's July meeting minutes.