The S&P/TSX Composite Index rose 1.5% to close at 36,633 as expectations for a US Fed rate hike in September weakened. US Fed Governor Waller said he was inclined to be patient on monetary policy while watching whether price pressures continued to ease. Markets subsequently reduced their rate-hike expectations, while Canadian and US government bond yields retreated from their 2025 highs. Banks gained, led by RBC at 1.6% and BMO and CIBC at 1.8% each. Higher gold prices lifted miners, with Agnico Eagle jumping 5%, Barrick gaining 3.1% and WPM adding 3.7%. Technology shares also advanced sharply amid a rally in US hyperscalers, large cloud-computing companies that operate extensive data-center infrastructure. Shopify rose 2.3%, while Celestica soared 11.3% as hyperscaler capital spending continued to support rapid expansion in high-performance AI computing and enterprise hardware. The BoC (Bank of Canada) left interest rates unchanged on Wednesday, but Governor Macklem said policymakers were prepared to raise rates if inflation remained elevated.