Canadian equities are edging higher in late-morning trading as gains in bank stocks support the benchmark index. The move contrasts with broad declines in U.S. markets, while the Canadian dollar strengthens and oil and gold prices fall.
Highlights
- S&P/TSX composite index rises 30.84 points to 36,295.93, driven by gains in Canada's bank stocks.
- U.S. indices decline with Dow Jones down 105.83 points at 52,369.27, S&P 500 down 20.74 points at 7,723.24, and Nasdaq down 331.14 points at 26,218.71.
- December crude oil drops $2.52 to $100.26 per barrel, and December gold falls $16.50 to $4,035.10 an ounce.
Late-morning market moves across North America
As reported by Moneysense, the S&P/TSX composite index is up 30.84 points at 36,295.93, supported by strength in Canada's bank shares.In New York, the Dow Jones industrial average is down 105.83 points at 52,369.27. The S&P 500 index is down 20.74 points at 7,723.24, while the Nasdaq composite is down 331.14 points at 26,218.71.
Currency and commodity prices add market context
The Canadian dollar is trading at 71.50 cents U.S., compared with 71.25 cents U.S. on Wednesday.The December crude oil contract is down U.S.$2.52 at U.S.$100.26 per barrel. The December gold contract is down U.S.$16.50 at U.S.$4,035.10 an ounce.
In our earlier analysis of the S&P 500 (SPX), we covered the index’s pullback amid a tech- and AI-led rebound following major earnings, while rising Treasury yields weighed on other sectors. We also highlighted that SPX was trading below key 20- and 50-day moving averages, suggesting short- to medium-term selling pressure, with attention on nearby support/resistance levels that could determine the next move.
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