04:15 PM EDT, 06/02/2026 (MT Newswires) -- The resources-heavy Toronto Stock Exchange closed at a fresh record high on Tuesday, boosted by higher commodity prices and confidence the equity market fundamentals in place for most of the last two months will continue.

The S&P/TSX Composite Index closed up 434.57 points, or 1.25%, to 35,169.46, with most sectors higher. The prior record close of 34,830 was set on May 25.

The index was led higher by Base Metals, up 4%, followed by the Battery Metals Index, up 2.7%, and then Energy, up 2.4%. In contrast, Health Care was down 1.2% and Telecom down near 0.75%.

According to FactSet the TSX was, going in to today, up 10.91% from its 2026 closing low of 31,317.41 hit Friday, March 20, and year to date up 3,022.13 points or 9.53%.

Morningstar Canada published a note entitled 'Best- and Worst-Performing Canadian Stocks' in which it notes The Morningstar Canada Large-Mid Cap Index rose 2.35% in May, amid a rally in the communication-services sector. The index tracks the top 90% of the Canadian investable universe by market cap, and each month, Morningstar screens it for the best- and worst-performing companies.

Among the best performing stocks of May 2026, Morningstar cited Capstone Copper ( CSCCF ) , HudBay Minerals ( HBM ) , First Quantum Minerals ( FQVLF ) , Air Canada ( ACDVF ) and Lundin Mining ( LUNMF ) .

Among the worst performing stocks of May 2026, it cited Stantec ( STN ) , GFL Environmental ( GFL ) , Element Fleet Management ( ELEEF ) , Energy Fuels ( UUUU ) and WSP Global ( WSPOF ) .

Of commodities, gold was higher late afternoon Tuesday, but fell back from early highs as the dollar rose. Gold for July delivery was last seen up US$11.30 to US$4,517.60 per ounce, after earlier touching $4,571.30.

Also, West Texas Intermediate crude oil closed higher, rising off session lows following reports Iran is considering a new U.S. peace deal to end the war, a day after prices surged after the two sides appeared to be on the brink of resuming hostilities. WTI crude oil for July delivery closed up $1.60 to settle at US$93.76 per barrel, after earlier touching US$90.12. August Brent oil was up US$1.01 to US$95.99.