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TSX Climbs 0.6% as Banks and Tech Lead, Loonie Near a 4-Week High and BoC Hike Odds Hit 80%

  Canadian Money Brief | Thursday, October 22, 2026 | Covers Wednesday’s close, plus an early look at this morning Stocks rose on both sides of the border on Wednesday. Canada’s S&P/TSX Composite Index gained 217.03 points, or 0.60%, to close at 36,324.99, led by the banks and tech. On Wall Street, strong earnings from SpaceX, Super Micro and Capital One powered a rebound in artificial intelligence stocks, and the Nasdaq Composite jumped 1.05%. Behind the rally, rate worries keep building. Traders now give the Bank of Canada roughly an 80% chance of raising its policy rate next Wednesday, and oil is still hovering near US$109 a barrel for Brent. This morning, U.S. futures are pointing lower. Market Snapshot: Wednesday, October 21 Close Index Close Change S&P/TSX Composite (Canada) 36,324.99 +0.60% S&P 500 (U.S.) 7,757.17 +0.58% Dow Jones Industrial Average 52,856.09 +0.69% Nasdaq Composite 26,702.86 +1.05% Russell 2000 2,781.02 +0.27% STOXX Europe 600 644.49 +0.92% Nik...
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S&P/TSX Composite Closes Lower Amid Broader Losses

Canada’s main stock index, the S&P/TSX composite, closed lower on Friday, echoing the trend in U.S. markets. Despite earlier gains, the S&P/TSX composite index ended down 66.37 points at 21,875.79. The decline was driven by weakness in energy and industrials sectors.

Statistics Canada reported that real gross domestic product (GDP) grew 0.3% in April, but the early read for May showed growth slowing to 0.1% for the month. Consumers in Canada appear to be pulling back, impacted by higher interest rates over the past two years. Portfolio manager Hadiza Djataou noted that consumption is taking a hit, influencing stock performance.

In New York, the Dow Jones industrial average was down 45.20 points at 39,118.86, the S&P 500 index dropped 22.39 points to 5,460.48, and the Nasdaq composite fell 126.08 points to 17,732.60. The U.S. Federal Reserve’s preferred inflation gauge indicated a 2.6% rise in consumer prices for May, easing from April’s 2.7% reading.

The Canadian dollar traded at 73.06 cents US, and while Canada’s GDP data didn’t significantly impact interest rate expectations, Djataou anticipates further pressure on the loonie due to diverging economic trajectories between Canada and the U.S.


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