The S&P/TSX Composite Index witnessed an early surge to record highs but later retraced, dropping 0.3% to just below the 31,700 level by Friday afternoon. This downturn was largely influenced by renewed apprehensions over technology sector valuations, following a sharp decline in Broadcom shares after its AI chip sales forecast disappointed despite surpassing fourth-quarter performance expectations. Celestica experienced a significant drop, plummeting over 10%, contributing to the overall decrease in the index. Concurrently, support from the mining sector waned, with Agnico Eagle declining by approximately 1% due to gold paring its gains and silver experiencing a sell-off as investors took profits. Conversely, the cannabis sector experienced a notable upswing, driven by media reports suggesting that US President Donald Trump plans to relax federal restrictions on recreational cannabis by reclassifying it as a Schedule III substance. This announcement propelled Tilray Brands shares over 40% higher, while Canopy Growth saw a monumental rise of about 50%. The week's trading activities were heavily influenced by central bank decisions, with the Bank of Canada maintaining its interest rates and the US Federal Reserve implementing a 25 basis point cut. This policy shift boosted risk appetite, resulting in the index closing approximately 0.8% higher for the week.