The S&P/TSX Composite Index traded near 37,000 on Friday after Canada’s economy expanded at an annualized 3.3% rate in the second quarter, its strongest pace in nearly two years but slightly below the 3.4% forecast. The data provided some support while raising concerns that escalating trade tensions with the United States could derail the recovery. Canada’s ambassador to Washington, Mark Wiseman, said Ottawa could not accept a trade deal unless it protected a robust Canadian auto assembly and parts industry. US President Trump has threatened to raise tariffs on all Canadian cars, trucks and automotive parts to 50% from January 1st, 2027. Major banks advanced after RBC, TD Bank, Scotiabank and CIBC beat earnings expectations, while technology stocks extended gains after Nvidia’s strong results, with Shopify up more than 0.5%.