2025.05.2820:08:28UTC+00TSX Slightly Lower Ahead of Nvidia

On Wednesday, the S&P/TSX Composite Index closed slightly down at 26,259, pulling back after briefly hitting an all-time high of 26,310. This minor decline followed the release of the US Federal Reserve’s May meeting minutes and preceded Nvidia's earnings announcement, which dampened some of the initial optimism. Despite this, the index received significant support from Toronto’s key financial sector. The Bank of Montreal's shares rose by 1.9% after the bank surpassed earnings expectations for its second fiscal quarter. Similarly, the National Bank of Canada saw a 4% increase, buoyed by strong performance in its financial markets division. These positive performances contributed to the continued momentum from Scotiabank’s impressive results on Tuesday, with RBC and CIBC shares also seeing an uptick in anticipation of their forthcoming earnings reports. In contrast, shares of Suncor Energy and Canadian Natural experienced slight declines amidst a generally subdued day for oil producers.