Equities in Toronto opened higher on Monday, with mining stocks leading the gains, as investors weighed growing odds of a U.S. Federal Reserve interest rate cut in December.
The TSX saw its momentum pick up where it left off over the weekend, gaining 176.28 points, to begin day and the week at 30,336.93.
The Canadian dollar slipped 0.06 cents to 70.89 cents U.S.
The gains followed comments from Fed policymaker John Williams, who stated on Friday that interest rates could fall "in the near term," boosting expectations for a rate cut at the Fed's December meeting.
Among other developments, the Indian government said it has agreed with Canada to restart stalled talks for a new trade deal after a break of two years following a diplomatic tussle.
In corporate news, Barrick Mining and Mali's government have reached a verbal agreement in principle to settle a dispute over the Loulo-Gounkoto gold mining complex, sources familiar with the matter told Reuters.
ON BAYSTREET
The TSX Venture Exchange gained 9.64 points to 864.40.
Eight of the 12 TSX subgroups gained in the first hour, with gold hiking 3.5%, materials stronger by 3.3%, and information technology ahead 2.3%.
The four laggards were weighed most by consumer staples, off 0.7%, industrials, down 0.6%. and energy trailing 0.4%.
ON WALLSTREET
Stocks rose on Monday, led by Alphabet, as the market seeks to rebound into the Thanksgiving holiday week after a slide that’s knocked the air out of this year’s artificial intelligence bull run.
The Dow Jones Industrials started the week up 82.87 points to 46,328.28.
The S&P 500 added 63.26 points, or 1%, to 6,664.88.
The NASDAQ popped 408.93 points, or 1.8%, to 22,682.01
The stock market is closed on Thursday for Thanksgiving Day, and it shuts down early at 1 p.m. ET on Friday.
Shares of Alphabet saw a boost Monday as investors grew optimistic about the company’s standing in the artificial intelligence race. Google last week announced its upgraded AI model, Gemini 3, a move that comes nearly eight months following its unveiling of Gemini 2.5. The stock was last up 5%.
Stocks are attempting to build on a strong rebound that started on Friday, after the head of the New York Federal Reserve left the door open to a December interest rate cut.
Major averages have still stumbled sharply since the month began, pressured by a reconsideration of sky-high valuations across artificial intelligence-linked names that had powered much of 2025's market gains.
The S&P 500 slipped 2% last week, and its November decline now stands at about 3%. The NASDAQ Composite, which shed 2.7% in the prior week, is down almost 5% for the month. The 30-stock Dow fell 1.9% last week and is off nearly 3% month to date.
The final stretch of November may be no easier. With trading volumes expected to thin out in the coming days and few meaningful catalysts ahead of the Fed’s December policy meeting, volatility could pick up.
Prices for the 10-year Treasury gained ground, lowering yields to 4.05% from Friday’s 4.06%. Treasury prices and yields move in opposite directions.
Oil prices eked up 0.03 cents to $58.09 U.S. a barrel.
Gold prices brightened $1.70 to $4,081.20 U.S. an ounce.
