TSX Advances as Oil Rally Stalls

2026-10-02 20:19 By Isabela Couto 1 min. read

The S&P/TSX Composite Index rose 1% to close at 35,503 as the oil rally stalled, easing concerns over energy-driven inflation and pushing Canadian bond yields lower.

Softer-than-expected US payrolls also supported rate-sensitive stocks as expectations of a Fed rate hike this month declined.

Financials gained, with CIBC up 1.1% and Great-West Lifeco rising 2%.

Technology stocks advanced as well, tracking strength in the Wall Street AI trade, with Shopify up 1.7% and Celestica jumping 3.9%.

Miners gained despite lower gold prices, as reduced expectations of a Fed rate hike following the weaker US jobs data supported the outlook for the metal.

Agnico Eagle rose 2.1%, while WPM added 2.6%.

Meanwhile, Prime Minister Carney said Canada will fast-track approval of a proposed crude oil export pipeline to the West Coast, a key part of his efforts to diversify the economy away from the US.



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TSX Advances as Oil Rally Stalls
The S&P/TSX Composite Index rose 1% to close at 35,503 as the oil rally stalled, easing concerns over energy-driven inflation and pushing Canadian bond yields lower. Softer-than-expected US payrolls also supported rate-sensitive stocks as expectations of a Fed rate hike this month declined. Financials gained, with CIBC up 1.1% and Great-West Lifeco rising 2%. Technology stocks advanced as well, tracking strength in the Wall Street AI trade, with Shopify up 1.7% and Celestica jumping 3.9%. Miners gained despite lower gold prices, as reduced expectations of a Fed rate hike following the weaker US jobs data supported the outlook for the metal. Agnico Eagle rose 2.1%, while WPM added 2.6%. Meanwhile, Prime Minister Carney said Canada will fast-track approval of a proposed crude oil export pipeline to the West Coast, a key part of his efforts to diversify the economy away from the US.
2026-10-02
TSX Gains as Oil Rally Stalls
The S&P/TSX Composite Index rose nearly 1% to hover around 35,500 as the oil rally stalled, easing concerns over energy-driven inflation and pushing Canadian bond yields lower. In addition, softer-than-expected US payrolls also supported rate-sensitive stocks amid reduced expectations of a Fed rate hike this month. Financial stocks gained, with Scotiabank up nearly 1%. Tech stocks also advanced, tracking strength in the Wall Street AI trade, with Shopify up nearly 2%. Gold prices edged higher, supporting miners, with Agnico Eagle and WPM both rising more than 2%. Meanwhile, Prime Minister Carney said Canada will fast-track approval of a proposed crude oil export pipeline to the West Coast, a key part of his efforts to diversify the economy away from the US.
2026-10-02
TSX Futures Edge Higher
TSX futures edged higher on Friday as the oil rally stalled, easing concerns over energy-driven inflation and pushing Canadian bond yields lower. Softer-than-expected US payrolls also supported rate-sensitive stocks, amid reduced expectations of a Fed rate hike this month. The US economy added 29,000 jobs in September, well below forecasts of 90,000 and down sharply from 133,000 in August. Elsewhere, gold prices were little changed but remained on track for a second straight weekly decline, keeping pressure on miners. Prime Minister Carney said Canada will fast-track approval of a proposed crude oil export pipeline to the West Coast, a key part of his efforts to diversify the economy away from the US.
2026-10-02