The S&P/TSX Composite rose around 0.3% to above the 28,630 level on Wednesday, attempting to renew its record high as major financials and miners led the index higher, with investors turning cautious ahead of key Canadian and US labor reports expected to guide monetary policy at the Bank of Canada and the Federal Reserve. Mega-cap RBC led the financials, adding over 0.5%, while Agnico Eagle led the mining sector with gains of nearly 1%. Elsewhere, the energy sector underperformed as oil prices tumbled amid fresh signs of higher supply. Reports indicated that the OPEC+ group is considering raising its oil output at its meeting over the upcoming weekend, surprising markets that had mostly expected an unchanged level of production.
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