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TSX Smashes 30,000 Record

Canada’s main stock index broke through 30,000 points for the first time in its history on Tuesday, capping a remarkable recovery that has seen the S&P/TSX Composite Index climb 35% since hitting a low point in April. 

The achievement is a significant milestone for Canadian equities, which have posted gains of 24.52% over the past year and outpaced the S&P 500 by eight percentage points in 2025 amid global economic uncertainty.

“Headlines and rhetoric just scared everybody, and they forgot how resilient Canadian companies are,” said Brian Belski, chief investment strategist at BMO Capital Markets.

You can read more on the matter here.

What’s going on?

• Only A Third Of Canadian-Led Startups Stay In Canada (theDeepDive)

• Carney still has ‘confidence’ in public safety minister after leaked gun buyback comment (CTV)

• Jimmy Kimmel Show Set to Return Tuesday (theDeepDive)

• Canada Population Growth Rate Near Zero on Immigration Curbs (Blloomberg)

• Pure Silver Play Delivers 700% in a Gold Bull Market! | Arturo Préstamo – Santacruz Silver (theDeepDive)

• Trump’s about-face on Ukraine baffles leaders on both sides of conflict (Globe)

• Why This Silver Run Is Different?! |  Mani Alkhafaji – First Majestic (theDeepDive)

• US debt investors raise alarm over lending standards (FT)

• Ontario Demands Return of Mandatory Minimums, ‘Three-Strikes’ Bail Rule (theDeepDive)

• Bessent Says U.S. Talking With Argentina About $20 Billion in Aid (WSJ)

What’s the latest?

• AI: PwC Canada projects the country’s GDP could reach $3.65T by 2035, up from $2.89T in 2023, if AI adoption accelerates and climate challenges are addressed. Scenarios range from 2.1% to 9.3% above baseline growth, depending on AI uptake and geopolitical stability. AI adoption in Canada is only about 75% of U.S. levels, leaving a major gap. Defence, mining, and tech are identified as key growth sectors, with NATO-driven defence spending set to hit 5% of GDP (~$150B annually) by 2035.

• Markets: U.S. stocks were mostly flat Wednesday, with the S&P 500 up 0.1%, the Dow rising 152 points (0.3%), and the Nasdaq edging 0.1% higher, all near record highs. The market has rallied sharply since April on expectations of Fed rate cuts and easing trade fears, though valuations are raising concerns. Cintas fell 1.8% despite topping earnings forecasts, while Lithium Americas surged 87.6% on reports the U.S. may take a stake in its Nevada lithium project with GM. The 10-year Treasury yield ticked up to 4.13%.

• Breach: A 23-year-old RBC employee, Ibrahim El-Hakim, has been charged with fraud over $5,000, identity theft, and unauthorized computer use after allegedly accessing Prime Minister Mark Carney’s bank data. RCMP said he used RBC’s IT systems to view multiple accounts and engage in fraud. The bank reported the breach and confirmed El-Hakim is no longer employed. The case is being handled by Canada’s Integrated National Security Enforcement Team, though RCMP said there is no threat to Carney’s safety.

• Real Estate : U.S. new home sales surged 20.5% in August from July, the biggest jump since 2022 and the highest level since January that year, according to Census data. Sales were also 15.4% higher year-over-year, despite mortgage rates still averaging 6.63%. Analysts cautioned the gain may be overstated due to survey volatility, though builder incentives likely boosted demand. The median home price rose 1.9% to $413,500, while inventory fell sharply to a 7.4-month supply from nine months in July.

• Mining: Hudbay Minerals temporarily shut its Constancia mine in Peru due to protests and illegal blockades. The company will use the downtime for preventive maintenance and expects no impact on 2025 production guidance. Social unrest escalated over the weekend with riots in Lima and nationwide protests.

What If Silver Snaps Back to 15:1?

The stock market and stuff

• TSX Hits Historic 30,000 As Canadian Stocks Outpace US Markets (theDeepDive)

• Sprott Ramps Up Uranium Buying to Highest Level Since 2023 (theDeepDive)

• Wall Street Is Poaching Bankers in a Red-Hot Job Market (WSJ)

• Nvidia to Invest Up to $100 Billion in OpenAI Under Massive Infrastructure Partnership (theDeepDive)

• Gold ETFs See Largest Single-Day Inflow Since 2022 as Prices Hit Records (theDeepDive)

In the juniors

• US Wants 10% Stake In Lithium Americas For Gov’t Loan (theDeepDive)

• Vox Royalty Secures Portfolio Of Royalty And Offtake Arrangements For $60 Million (theDeepDive)

• Snowline Gold Extends Strike At Jupiter Discovery To 1.9 Kilometres (theDeepDive)

• Sage Potash Outlines US$502 Million NPV For Flagship Sage Plains Project (theDeepDive)

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