Canada's main stock index opened lower on Monday, as higher bond yields ?and a dip in energy stocks weighed on the benchmark, while ?investors also assessed domestic inflation ?data for September ahead ?of Bank of ?Canada's interest rate decision ?next week.
The TSX slumped 289.38 points to 35.887.17.
The Canadian dollar pushed higher 0.08 cents to 70.90 cents U.S.
Reliance Worldwide said on Monday that no rival bidder emerged during the "go shop process under Brookfield's proposed acquisition of the Australian firm. Brookfield shares began the day and the week down 22 cents to $36.40.
On the economic scene, Statistics Canada reported its Consumer Price Index rose 3.1% year over year in September, following a 3.0% increase in August. On a seasonally-adjusted monthly basis, the CPI increased 0.4% in September.
ON BAYSTREET
The TSX Venture Exchange regained 5.16 points to 850.46
All but three of the 12 subgroups were negative, weighed most by materials, down 1.4%, while gold and industrials were each off 1.2%.
The three gainers were energy, up 0.2%, while consumer staples and information technology each edged ahead 0.03%.
ON WALLSTREET
The NASDAQ Composite rose on Monday as traders moved back into tech following last week’s artificial intelligence-related rout.
The Dow Jones Industrial index regained 16.14 points to 52,018.55
The S&P 500 index moved higher 52.95 points to 7,712.39
The tech-heavy index recovered 369.81 points, or 1.4%, to 26,509.84.
Intel advanced 5% after JPMorgan analysts upgraded their rating on the chipmaker. Advanced Micro Devices improved 3% and Micron Technology was up 4%.
The S&P 500 lost nearly 2% last week — its biggest weekly decline since late June. The NASDAQ tumbled 4.5%, snapping a four-week winning streak.
Information technology also shed more than 6% to post its worst weekly performance since April 2025. It was the most net sold global sector last week, with hedge funds selling the largest percentage of tech on record, per Goldman Sachs.
Concerns around the health of the AI trade took center stage after reports that Anthropic’s third-quarter revenue totaled $16.8 billion. And while that’s up from $11.6 billion in the second quarter, it raised flags among investors about the pace of growth with the AI build-out.
Investors in the corporate bond market have started to shun CoreWeave, with the company’s credit default swaps reaching distress levels. CoreWeave shares gathered $1.01, or 1.7%, to $62.40.
Prices for the 10-year Treasury were lower, poking up yields to 5.11% from Friday’s 5.09%. Treasury prices and yields move in opposite directions.
Oil prices let go of 73 cents to $100.68 U.S. a barrel.
Gold prices subtracted $17.70 to $4,163.40 U.S. an ounce.
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