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Daily Markets Update: TSX Rebounds, Europe Hits a Record, Nvidia Shock Rattles Asia (Nov. 12)

  CANADIAN MONEY BRIEF · DAILY MARKETS UPDATE Thursday, November 12, 2026 · Covers Wednesday’s close and Thursday’s Asian session Markets got their AI swagger back on Wednesday — and then Nvidia took some of it away overnight. A strong CoreWeave report lifted tech, pushed the S&P/TSX Composite higher and sent Europe to a record close, but reports that Nvidia’s board is weighing whether to remove CEO Jensen Huang rattled Asian chip stocks on Thursday and pointed U.S. futures lower. AT A GLANCE TSX: +0.67% to 36,411.72, recovering part of Tuesday’s hot-inflation drop. Wall Street: S&P 500 +1.31%, Nasdaq +1.60%, Dow +0.49% as CoreWeave revived the AI trade. Europe: STOXX 600 and Germany’s DAX both closed at records. Asia (Thursday): Taiex -2.63%, Nikkei -0.70% on Nvidia leadership worries. Gold slipped under US$4,000 on a firmer U.S. dollar; oil rebounded from two-month lows. Canada: TSX Claws Back Tuesday’s Loss The S&P/TSX Composite rose 241.27 points, or 0.67%, to...
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S&P/TSX Composite Index Faces Broad-Based Decline Amidst U.S. Market Strength

 

 Canada’s main stock index, the S&P/TSX composite, closed lower on Wednesday in a broad-based decline. The subdued trading session coincided with U.S. markets being closed for the Juneteenth holiday.

The key points are as follows:

  1. Market Performance:

    • The S&P/TSX composite index closed 94.40 points lower at 21,516.90.
    • This decline continues a trend that has seen the TSX index down approximately 4.4% over the last month.
    • In contrast, the S&P 500 in New York has risen by 3.5% during the same period.

  2. Two Markets, Different Trajectories:

    • Michael Currie, senior investment adviser at TD Wealth, highlighted the divergence between U.S. and Canadian markets. While the U.S. market remains strong, Canada’s market has been weakening.
    • Currie stated, “It’s certainly not crashing by any stretch, but the general trend has been negative, and that seems to be more of what’s continuing today.”

  3. Sector Performance:

    • The industrial and health care sectors led the declines, down approximately 0.95% and 1.1%, respectively.
    • Financials were down 0.5%, and energy declined by about 0.2%.
    • The Canadian dollar traded at 72.94 cents US, slightly higher than the previous day.

  4. Bank of Canada’s Decision:

    • The Bank of Canada recently lowered its key rate for the first time in over four years. Deliberations around this decision showed some hesitancy, but markets still anticipate another rate cut in July.
    • There is concern that as rates decrease, the Canadian dollar (the loonie) may weaken against the U.S. dollar.

  5. Commodity Markets:

    • Commodity markets were also closed due to the U.S. holiday.

In summary, while the S&P/TSX composite index experienced a decline, the broader context involves contrasting market trajectories between Canada and the U.S. Investors will closely watch further developments and central bank decisions in the coming weeks.


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