Here are four things you need to know this morning
New top for the TSX: We’re standing by with party streamers and cheap sparkling wine today in case Canadian stocks hit another record. Toronto’s composite index closed just above 31,490 Wednesday, setting a new high. The index has jumped just over 27 per cent this year fuelled in part by soaring gold stocks. That’s well ahead of the 17 per cent gain for the S&P 500.
Dollarama does it again: Speaking of party supplies, Dollarama is a destination for many people. Comparable sales in the latest quarter climbed six per cent, ahead of expectations, and overall sales soared 22 per cent. The shares have jumped 43 per cent this year and they’re only slightly down from a record high on Nov. 26.
Shopify sizzles: Heavily weighted Shopify lifted the market yesterday with a jump of almost five per cent, as investors bet on AI magic. Always-readable Canadian business site The Logic says the company’s “agentic storefronts” will “let chatbots like ChatGPT, Microsoft Copilot and Perplexity show products from Shopify sellers in conversations with users.” At last, something to help find a gift for a partner or spouse who tends to turn up a perfectly formed nose at whatever you buy them.
Oracle alarms: Shares in Oracle dropped 13 per cent in the pre-market. The company reported a surge in spending on AI data centres and other equipment. Those climbing expenditures have been slower to translate into cloud revenue than investors want. The company, which has about US$106 billion in debt, burned through $10 billion in cash in its latest three months
