TSX Rises Ahead of BoC and Fed Meetings
The S&P/TSX Composite Index rose 0.6% to close at 36,171 ahead of monetary policy decisions from the Bank of Canada and the US Federal Reserve later this week. The BoC meets Wednesday, with markets pricing in a 25-basis-point hike, while the Fed is widely expected to hold rates steady. Canadian bond yields fell as the oil rally paused, easing energy-driven inflation concerns and supporting bank stocks. BMO gained 1.2%, Scotiabank rose 0.8%, and CIBC added 1.1%. Mining stocks advanced as gold prices picked up, with Agnico Eagle rising 2.9% ahead of its earnings report on Wednesday, Barrick gaining 2.8%, and Wheaton Precious Metals climbing 3.1%. Meanwhile, the US and Canada are reportedly negotiating a deal to ease US tariffs on Canadian steel and autos. BRP rose 2.7%, while Teck Resources gained 3.5%. Celestica surged 11.9% after posting better-than-expected third-quarter results and issuing an upbeat 2027 revenue outlook, recovering from last week’s sharp losses.
The S&P/TSX Composite Index rose 0.6% to close at 36,171 ahead of monetary policy decisions from the Bank of Canada and the US Federal Reserve later this week. The BoC meets Wednesday, with markets pricing in a 25-basis-point hike, while the Fed is widely expected to hold rates steady. Canadian bond yields fell as the oil rally paused, easing energy-driven inflation concerns and supporting bank stocks. BMO gained 1.2%, Scotiabank rose 0.8%, and CIBC added 1.1%.
Mining stocks advanced as gold prices picked up, with Agnico Eagle rising 2.9% ahead of its earnings report on Wednesday, Barrick gaining 2.8%, and Wheaton Precious Metals climbing 3.1%. Meanwhile, the US and Canada are reportedly negotiating a deal to ease US tariffs on Canadian steel and autos. BRP rose 2.7%, while Teck Resources gained 3.5%. Celestica surged 11.9% after posting better-than-expected third-quarter results and issuing an upbeat 2027 revenue outlook, recovering from last week’s sharp losses.