The S&P/TSX Composite Index rose 0.5% to close at 35,369 on Friday, supported by gains in financial, mining, and technology stocks.
The pause in the oil rally eased energy-driven inflation concerns, pushing bond yields lower and supporting financials and the broader market.
TD Bank gained 0.7%, while BMO and Scotiabank each added 0.7%, CIBC rose 0.9%, and Brookfield advanced 1.2%.
Gold prices edged higher, lifting miners, with Agnico Eagle up 0.7% and WPM gaining 1.5%.
In technology, Shopify climbed 1.6% and Constellation Software rose 4%, while Celestica tumbled 8.7%, tracking a selloff in US chipmakers.
Energy stocks declined as oil prices pulled back from recent highs, with Canadian Natural down 1.1% and Suncor losing 0.7%.
Cenovus fell 1.4% ahead of the release of its earnings report due July 29th.