Executive Summary
The S&P/TSX Composite rose approximately 105 points, or 0.3%, over the trading week ending July 24, 2026, closing at 35,369.10. The path featured a decline on July 20 to 34,960.30, followed by gains on July 21 to 35,369.10 and July 22 to 35,485.10, a pullback on July 23 to 35,192.66, and a 0.5% advance on July 24.
Friday's broad gains helped offset earlier weakness, with the index recovering from the weekly low. Year-to-date performance remained positive, building on Q2 advances of 3.65% in April and 2.37% in May.
Weekly Drivers
- Energy sector resilience provided support amid commodity price stability.
- Broad participation on the final trading session lifted the index after mid-week volatility.
- Continued strength in financials and consumer discretionary names contributed to session gains earlier in the period.
- Domestic economic data and global risk sentiment influenced rate-sensitive areas.
Sectors & Breadth
Energy stocks featured prominently in the week's moves, with the sector noted for providing support on the closing session. Financials and consumer discretionary areas showed strength in prior sessions, while breadth appeared mixed across the volatile trading days.
The advance was not uniformly distributed, with some sessions reflecting narrower participation before the Friday rebound broadened gains across multiple groups.
What to Watch
- Upcoming U.S. and Canadian inflation readings and their potential impact on rate expectations.
- Geopolitical developments affecting energy prices and global risk appetite.
- Earnings reports from major Canadian financial and resource companies.
- China economic data releases relevant to materials and mining sectors.
Capital-Flow Context
Foreign investor positioning in Canadian equities has remained constructive through the first half of 2026, supported by the index's multi-quarter winning streak and exposure to resources. Passive inflows via ETFs have continued to provide a steady bid, particularly in large-cap energy and financial names.
Currency effects from CAD movements relative to the USD have influenced cross-border allocations, with commodity-linked flows helping offset any episodic outflows from rate-sensitive segments.