Canadian Stocks Set Record for Records in ‘Jaw-Dropping’ Year

Market Performance - Canadian equities are closing out their second-best year this century, with the S&P/TSX Composite Index soaring more than 40% from an April 8 low and ending the year with a 28% advance, marking the biggest year since 2009 [3][4] - The index achieved a record 63 new closing highs during the year, driven by a steady upward trend over the final seven months [3] Sector Contributions - Mining and bank stocks were central to the rally, with the materials subindex nearly doubling due to significant rallies in gold, silver, copper, and palladium [4] - The financials group jumped more than 30%, while tech companies like Shopify Inc. and Celestica Inc. also contributed to the market's performance [4] Future Outlook - Analysts suggest that while the rally in precious metals may continue to support the S&P/TSX Composite, it may not reach the same levels seen in the past year [6] - Central banks are expected to continue cutting rates, which could provide further support for gold prices and the overall market [5][6]