India, Aug. 5 -- Canadian stocks surged on Tuesday amid increased investor optimism about a US Fed rate cut sooner amid the ongoing US tariff war with a few of its major trading partners.
Notably, on Monday the markets remained closed on account of the Civic Holiday.
After opening much higher than the previous close, the benchmark S&P/TSX Composite Index remain firmly positive throughout the day before settling at 27,570.08, up by 549.65 points (or 2.03%). This is a fresh record for the index.
On Sunday, Canada's federal minister in-charge of US-Canada trade talks stated that he sees a pathway to reduce US tariffs imposed on Canada.
Currently, Canada has been slapped with 35% tariffs on goods not covered under the USMCA, which has natur...