TSX hits all-time high, topping key level of 30,000

The S&P/TSX Composite Index rose 0.3 per cent to climb above the key psychological threshold of 30,000 for the first time. Photo by Peter J. Thompson/National Post files

Canadian stocks hit a new all-time high despite tariff threats and a weakening economy.

The S&P/TSX Composite Index rose 0.3 per cent to climb above the key psychological threshold of 30,000 for the first time on Tuesday. The gauge has posted 45 closing records this year, the most since the recovery from the COVID-19 pandemic in 2021. The rally is being driven by stronger than expected earnings, a flight to shelter in gold names and easing in borrowing costs. And a fresh round of Bank of Canada interest-rate cuts is expected to stoke gains.

“It’s a big milestone obviously because it’s a nice round number,” sai