FX.co ★ Canada Stock Market Index (TSX) at 26433.45points

The S&P/TSX Composite Index inched up by 0.1% to reach a record high of 26,427 on Tuesday. This uptick was primarily fueled by strong performance in the energy sector, despite the challenges posed by unpredictable US trade policies and a subdued global growth outlook that affected broader risk assets. Leading the advance were oil majors Canadian Natural, Suncor, Imperial Oil, and Cenovus, each experiencing gains between 0.9% and 2.2% amid rising crude oil prices. Investors are now on alert for a possible call between President Trump and President Xi, as looming tariffs threaten Canada's export-driven industries, particularly manufacturing and natural resources, by potentially increasing input costs and limiting market access. The OECD's recent downgrade of its global growth forecast heightens this risk, indicating diminished foreign demand for Canadian commodities. On the domestic front, April's mixed inflation data has left markets divided over whether the Bank of Canada will maintain or adjust interest rates, which adds further uncertainty for rate-sensitive sectors such as real estate and financial stocks.