Markets rally towards highs

Allan Tong Posted On June 26, 2025

Reports of Trump openly considering successors to U.S. Fed Chair Jerome Powell helped lift markets in both New York and Toronto on Thursday. The S&P rose 0.8% while the Nasdaq and Dow nearly gained 1%. The S&P and Nasdaq are close to breaking previous highs. Meanwhile, the TSX continued to make new records, adding 185 points to close at 26,751.

Major movers on Wall Street were Enphase Energy up 12.83%, Freeport-McMoRan 6.88%, Super Micro Computer 5.71%, Equinix -9.56% and Albemarle 5.58%. In Toronto, Hudbay Minerals rallied 8.3%, ERO Copper 8.1%, Novagold Resources 10.78%, BlackBerry -3.73% and ARC Resources -3.32%. Eight Canadian sectors advanced, led by materials and industrials, while telcos lagged the most.

In commodities, gold held around US$3,331, WTI added 60 cents to US$65.50 while Bitcoin gave back 0.17% to US$107,660. The U.S. 10-year yield hovered around 4.246%.

⚡ Enphase Energy (ENPH-Q) +12.83%

⛏ Freeport McMoran Copper & Gold (FCX-N) +6.88%

💾 Super Micro Computer (SMCI-Q) +5.71%

🏛 Equinix, Inc. (EQIX-Q) -9.56%

⛏ Albemarle Corp (ALB-N) +5.58%

⛏ Hudbay Minerals (HBM-T) +8.3%

🥉 Ero Copper Corp (ERO-N) +8.1%

🥇 NovaGold Resources Inc (NG-T) +10.78%

📱 BlackBerry (BB-T) -3.73%

🛢 Arc Resources Ltd (ARX-T) -3.32%