TSX Falls on Tech and Commodity-Linked Stocks Losses

2026-11-12 14:52 By Isabela Couto 1 min. read

The S&P/TSX Composite Index fell about 0.5% to hover below 36,500 on Thursday, tracking the US stock market following key earnings.

The tech sector was pressured by a plunge in Nvidia stock as the company's board met regarding the resignation of CEO and co-founder Jensen Huang over his involvement with a suspected Chinese spy.

Shopify declined 1%, and Constellation Software was down more than 1%.

In contrast, Celestica gained nearly 4%, extending an 8.4% surge in the prior session following recent investor-day commentary and strong third-quarter results, recovering from the earlier post-US-election global tech selloff.

Meanwhile, commodity-backed companies in Canada were under pressure as oil prices fluctuated and gold prices fell.

Canadian Natural fell over 0.5%, and Agnico Eagle lost more than 2.5%.

Franco-Nevada shed 1% after signaling its annual earnings should land at the midpoint of earlier guidance instead of previous top half estimates.



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TSX Falls on Tech and Commodity-Linked Stocks Losses
The S&P/TSX Composite Index fell about 0.5% to hover below 36,500 on Thursday, tracking the US stock market following key earnings. The tech sector was pressured by a plunge in Nvidia stock as the company's board met regarding the resignation of CEO and co-founder Jensen Huang over his involvement with a suspected Chinese spy. Shopify declined 1%, and Constellation Software was down more than 1%. In contrast, Celestica gained nearly 4%, extending an 8.4% surge in the prior session following recent investor-day commentary and strong third-quarter results, recovering from the earlier post-US-election global tech selloff. Meanwhile, commodity-backed companies in Canada were under pressure as oil prices fluctuated and gold prices fell. Canadian Natural fell over 0.5%, and Agnico Eagle lost more than 2.5%. Franco-Nevada shed 1% after signaling its annual earnings should land at the midpoint of earlier guidance instead of previous top half estimates.
2026-11-12
Canadian Stock Futures Edged Lower on Thursday
Futures tracking Canadian equities edged lower on Thursday, mirroring the traditional economic sectors of their US counterparts following key earnings. The tech sector was under pressure from a plunge in Nvidia stock as the company's board met to potentially fire CEO and co-founder Jensen Huang due to his involvement with a suspected Chinese spy. Meanwhile, commodity-backed companies in Canada were likely under pressure as oil prices were volatile and gold prices fell. Crude oil futures wavered on fresh evidence of higher output from the Middle East. On top of that, Franco-Nevada was due to open lower after signaling its annual earnings should land at the midpoint of earlier guidance instead of prior estimates of the top half. At the same time, persistent bets on multiple rate hikes by the Federal Reserve next year pressured gold prices.
2026-11-12
TSX Rises on Energy Gains
The S&P/TSX Composite Index rose 0.7% to close at 36,411 on Wednesday with support from energy producers. Crude oil pared losses amid persistent US-Iran tensions, with major disagreements between the two parties posing obstacles to negotiations. Canadian Natural rose 1.9%, Suncor added 2.2%, Imperial Oil advanced 3.1% and Cenovus was up 3%. Technology stocks also gained, supported by upbeat results from CoreWeave. Shopify rose 2.1%, Celestica jumped 8.4%, and Constellation Software gained 1%. Major banks also rose, with RBC up 0.8% and TD Bank adding 0.7%. Meanwhile, gold prices fell after a sharp drop in the prior session that hit major Canadian miners, driving them to extend losses. Agnico Eagle lost 2% and Barrick fell 1.3%, while Franco-Nevada retreated 2.4% ahead of its earnings report. Elsewhere, Power of Canada added 1.4% ahead of its earnings.
2026-11-11