The TSX fell off 19.11 points to begin Monday’s session at 30,241.73.
Meanwhile, markets also kept an eye on U.S.-Canada tensions after Prime Minister Mark Carney said on Saturday he apologized to U.S. President Donald Trump over an anti-tariff political ad, and urged Ontario Premier Doug Ford not to run it.
The ad had prompted Trump to announce higher tariffs on Canadian goods and led Washington to halt trade talks with Ottawa.
On the corporate front, activist fund Palliser Capital has intensified pressure on Rio Tinto to mount a "now or never" counterbid for Teck Resources, according to a letter seen by Reuters. Teck stocks dipped 77 cents, or 1.3%, to $59.40.
On the economic schedule, Markit Canada said Manufacturing PMI in Canada climbed to 49.6 points in October from 47.7 points in September.
Manufacturing PMI in Canada climbed to 49.6 points in October from 47.7 points in September.
ON BAYSTREET
The TSX Venture Exchange ducked back 1.85 points to 956.03.
All but three of the 12 subgroups were lower, with telecoms and industrials falling 0.8% each, while real-estate issues slid 0.7%.
The three gainers were information technology, up 0.7%, while financials and energy each took on 0.1%. Health-care stocks were unchanged.
ON WALLSTREET
The S&P 500 rose on Monday, led by tech, as a new month of trading began.
The Dow Jones Industrials index gave up 194.02 points Monday to 47,368.95.
The much broader index poked ahead 3.85 points to 6,844.00
The NASDAQ moved higher 142.48 points to 23,863.43.
Micron Technology gained 4% to lead chipmaker stocks higher, while Nvidia was up 2%.
Other tech names such as Meta Platforms progressed nearly 1% and Palantir gained almost 2%.
The moves came after data center company Iren reached a multiyear $9.7-billion deal with Microsoft to provide the megacap technology company access to Nvidia GB300 graphics processing units. Shares of Iren were last up 17%.
Nvidia shares continued to see gains Monday following Microsoft’s announcement that it has secured export licenses from the Trump administration to ship Nvidia chips to the United Arab Emirates.
The company added that its total UAE investment will amount to $15.2 billion by the end of 2029.
Fellow “Magnificent Seven” name Amazon also supported the market, with shares rallying more than 5% after the company reached a $38-billion deal with OpenAI, a partnership that will utilize hundreds of thousands of Nvidia’s GPUs.
More than 300 S&P 500 companies have posted third-quarter results thus far. Of those, over 80% have beaten expectations. Wall Street will get another 100-plus companies reporting this week, including AI-related names Palantir and AMD.
Wall Street may get a seasonal boost this month. Data from the Stock Trader’s Almanac shows the S&P 500 averages a 1.8% gain in November, making it the strongest month historically for the benchmark.
Prices for the 10-year Treasury sagged Monday, raising yields to 4.10% from Friday’s 4.09%. Treasury prices and yields move in opposite directions.
Oil prices dropped 11 cents to $60.87 U.S. a barrel.
Gold prices grabbed $35.20 to $4,031.70 U.S. an ounce.
