Canada’s TSX Rebounds as Oil Prices Slide

2026-11-02 14:51 By Joana Ferreira 1 min. read

Canada’s S&P/TSX Composite Index rose more than 0.5% to approximately 35,850 points on Monday, partially recovering from Friday’s steepest single-day decline in nearly six months, as a sharp drop in oil prices eased inflationary concerns, while investors turned their attention to Tuesday’s US midterm elections.

Oil prices plunged around 4% after Iranian and Qatari officials held a third consecutive day of talks aimed at ending the US-Israeli war on Iran.

Meanwhile, gold recovered from one-year lows as investors assessed comments from Federal Reserve officials suggesting that further interest rate hikes could be necessary to curb inflation.

Investors are also looking ahead to earnings reports from Toromont Industries and Topaz Energy after the close.

On the trade front, US President Donald Trump said his administration had established a framework for a new trade agreement with Canada, while Prime Minister Mark Carney characterized the discussions as constructive.



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Canadian Stocks Rise on Monday
Canada’s S&P/TSX Composite Index rose 0.5% to 35,801 points on Monday, partially recovering from Friday’s steepest single-day decline in nearly six months, helped by gains in financials, materials and industrials while the energy sector tumbled. Gold prices rose while oil prices decreased more than 7% amid hopes for a diplomatic solution to the conflict between the US and Iran. On the trade front, US President Trump said his administration had established a framework for a new trade agreement with Canada, while Prime Minister Mark Carney characterized the discussions as constructive. Royal Bank of Canada rose 0.8% and Bank of Montreal added 1.1% while Canadian Natural Resources fell 4.2%.
2026-11-02
Canada’s TSX Rebounds as Oil Prices Slide
Canada’s S&P/TSX Composite Index rose more than 0.5% to approximately 35,850 points on Monday, partially recovering from Friday’s steepest single-day decline in nearly six months, as a sharp drop in oil prices eased inflationary concerns, while investors turned their attention to Tuesday’s US midterm elections. Oil prices plunged around 4% after Iranian and Qatari officials held a third consecutive day of talks aimed at ending the US-Israeli war on Iran. Meanwhile, gold recovered from one-year lows as investors assessed comments from Federal Reserve officials suggesting that further interest rate hikes could be necessary to curb inflation. Investors are also looking ahead to earnings reports from Toromont Industries and Topaz Energy after the close. On the trade front, US President Donald Trump said his administration had established a framework for a new trade agreement with Canada, while Prime Minister Mark Carney characterized the discussions as constructive.
2026-11-02
TSX Futures Edge Higher as Oil Prices Slide
S&P/TSX futures rose 0.2% on Monday as a sharp decline in oil prices eased inflation concerns, while investors turned their attention to Tuesday’s US midterm elections and their potential implications for fiscal policy. Oil prices tumbled around 4% after Iranian and Qatari officials held a third consecutive day of talks aimed at ending the US-Israeli war on Iran. Gold, meanwhile, rebounded from one-year lows as investors assessed comments from Federal Reserve officials pointing to the possibility of further rate hikes to combat inflation. The gains followed Friday’s sharpest single-day decline in Canada’s benchmark index in nearly six months, led by technology and mining stocks. Investors are also awaiting earnings from Toromont Industries and Topaz Energy. On the trade front, US President Donald Trump said his administration had established a framework for a new trade deal with Canada, while Prime Minister Mark Carney described discussions as constructive.
2026-11-02