Canada’s S&P/TSX Composite Index hovered near 30,306 points on Tuesday, with energy gains offset by weakness in technology stocks, as investors paused after Monday’s rally.
Monday’s optimism — driven by higher commodity prices and news that the U.S. Senate passed a bill ending the historic government shutdown — quickly faded as traders looked for the next catalyst.
“The euphoria around the government reopening seems to have been a one-day phenomenon,” said Allan Small, Senior Investment Advisor at iA Private Wealth.
🔹 Market Highlights
- ⚖️ TSX little changed at 30,306.23
- 🛢️ Energy +1.1% — supported by new U.S. sanctions on Russian oil
- 💻 Technology −1.5% — valuations under renewed pressure
- 🪙 Gold +0.3%, hitting a 3-week high on rate-cut expectations
- ⚡ Brookfield Renewable Partners −5.6% after announcing a $650M equity raise
🔹 Macro Context
- ADP data showed U.S. private employers shed ~11,000 jobs, hinting at labor market softness.
- Expectations of another Fed rate cut in December boosted gold and tempered investor risk appetite.
- Diplomatic tone eased slightly as China signaled readiness to resume cooperation with Canada.
📊 Investor sentiment remains cautious, with markets awaiting fresh triggers beyond the U.S. reopening — from labor data to central bank signals.