周四，标准普尔/多伦多证交所综合指数上涨约0.3%，首次突破30700点大关，受科技股强劲上涨和主要矿业股持续上涨的支撑，投资者监测到美中贸易紧张局势不断升级。Celestica表现最佳，在高盛（Goldman Sachs）以买入评级和340美元的目标价开始承保后，由于对人工智能基础设施的强劲需求，Celestica的股价上涨了近5%，理由是该公司有能力扩展到超大规模数据中心。Shopify上涨超过3%，得益于分析师目标的升级以及对商家增长和人工智能增强工具的重新乐观。Agnico Eagle、Barrick Mining和Franco Nevada表现优异，上涨约1%至2.5%，金价继续创下新高。与此同时，美国官员周三批评了中国更严格的稀土出口管制，并警告可能采取的反制措施，这一事态发展使具有风险意识的贸易商保持谨慎。

The S&P/TSX Composite rose around 0.3% to above the 30,700 mark for the first time on Thursday, supported by strong gains in tech and a continued rally among major mining equities as investors monitored escalating trade tensions between the US and China. Celestica was the top performer, adding nearly 5% on strong demand for AI infrastructure after Goldman Sachs initiated coverage with a Buy rating and a $340 target citing the company’s ability to scale for hyperscale data centers. Shopify added over 3%, benefiting from upgraded analyst targets and renewed optimism around merchant growth and AI-enhanced tools. Agnico Eagle, Barrick Mining, and Franco-Nevada outperformed, adding between about 1% and 2.5% as gold prices continued to test new highs. Meanwhile, US officials on Wednesday criticized China’s tighter rare-earth export controls and warned of potential countermeasures, a development that kept risk-aware traders cautious.

2025年9月，加拿大的房屋开工量从8月的244543套跃升至279234套，增长了14%，超过了市场预期的25.5万套。人口超过10000的中心的城市住房开工率增长了16%，达到每年254345套，而农村的开工率估计为24889套。六个月移动平均线上涨4.1%，至277147套。

Housing starts in Canada jumped 14% to 279,234 units in September 2025 from 244,543 in August, surpassing market expectations of 255,000. Urban housing starts in centres with populations above 10,000 rose 16% to an annual rate of 254,345 units, while rural starts were estimated at 24,889 units. The six-month moving average increased 4.1% to 277,147 units.

2025年10月，加拿大CFIB商业晴雨表长期指数下跌3.9点，至46.3点。大多数行业的信心减弱，其中建筑业（下降9.3点至43.2点）、运输业（下降8.6点至42.4点）、零售业（下降5.8点至42.6点）和制造业（下降4.1点至44.6点）领跌。只有卫生和教育（55.4）、农业（54.5）和专业服务（52.7）仍高于50。持续的美加贸易争端打压了市场情绪，72%的公司报告了负面影响，特别是在运输业（38%）、制造业（27%）和批发业（26%）。从地区来看，阿尔伯塔省的跌幅最大，下降9.9点至43.8点。劳动力市场状况持续疲软，计划裁员的雇主（19%）多于招聘（12%）。52%的受访者表示，需求不足仍然是业务和生产扩张的主要障碍。与此同时，阻碍增长的主要成本制约因素是保险（68%）、税收和监管费用（67%）以及工资成本（64%）。

Canada’s CFIB Business Barometer long-term index fell 3.9 points to 46.3 in October 2025. Confidence weakened across most sectors, led by construction (down 9.3 points to 43.2), transportation (-8.6 to 42.4), retail (-5.8 to 42.6), and manufacturing (-4.1 to 44.6). Only health and education (55.4), agriculture (54.5), and professional services (52.7) remained above 50. The ongoing US–Canada trade dispute weighed on sentiment, with 72% of firms reporting negative effects — particularly in transportation (38%), manufacturing (27%), and wholesale (26%). Regionally, Alberta saw the sharpest drop, down 9.9 points to 43.8. Labor market conditions continued to weaken, with more employers planning to cut staff (19%) than hire (12%). Insufficient demand remains the main barrier to business and production expansion, cited by 52% of respondents. Meanwhile, key cost constraints hindering growth are insurance (68%), tax and regulatory expenses (67%), and wage costs (64%).

标准普尔/多伦多证交所综合指数周三上涨0.9%，收于30637点，创下历史新高，美联储主席杰罗姆·鲍威尔的鸽派信号超过了美中贸易摩擦的再次爆发，提振了矿商、对利率敏感的科技和金融股份。随着金价创下新高，Agnico Eagle和Barrick股价上涨超过4%。对利率敏感的技术公司表现优异，Shopify上涨2.1%，Celestica飙升约9%，此前BMO Capital将目标价格从230美元上调至300美元，预计该公司将在2027年之前在博通和OpenAI人工智能基础设施建设方面取得重大进展。随着美国银行开始强劲盈利，加拿大金融股上涨，加拿大皇家银行和道明银行各上涨略高于1%。尽管如此，在特朗普总统在会议晚些时候威胁要对食用油实施禁运以回应北京不购买美国大豆的决定后，市场仍对贸易头条保持警惕。

The S&P/TSX Composite rose 0.9% to a record close of 30,637 on Wednesday as dovish signals from Federal Reserve Chair Jerome Powell outweighed renewed US-China trade frictions, lifting miners, rate sensitive tech and financials. Agnico Eagle and Barrick jumped more than 4% as bullion pushed to fresh highs. Rate sensitive technology names outperformed, with Shopify up 2.1% and Celestica surging about 9% after BMO Capital raised its price target from 230 to 300 dollars on expectations the company will capture significant work on Broadcom and OpenAI AI infrastructure buildouts through 2027. With US banks starting earnings strongly, Canadian financials rallied and RBC and TD each added just over 1%. Markets nonetheless remained watchful of trade headlines after President Trump threatened a cooking oil embargo late in the session in response to Beijing’s decision not to buy US soybeans.