TSX Futures Rise After Post-US Election Rally
Futures tracking Canada’s stock market rose on Thursday, setting the TSX to extend gains after a rally on Wednesday following the US midterm election results. The Democrats’ victory gives them a stronger platform to challenge US President Trump’s trade policies, although they still lack the votes needed to override his veto on efforts to reverse tariffs or revoke trade authorities. The US-Canada trade dispute began in 2025, when Trump signed orders imposing broad tariffs on Canadian goods. The measures took effect in March, alongside Canada’s retaliatory duties. Trump later exempted USMCA-compliant goods but imposed additional tariffs on steel, aluminum and automotive imports. On the earnings front, Canadian Natural Resources beat third-quarter profit estimates, supported by higher crude prices and stronger production. Nutrien, meanwhile, missed expectations amid surging sulfur input costs in its phosphate segment and lower nitrogen sales volumes.
Futures tracking Canada’s stock market rose on Thursday, setting the TSX to extend gains after a rally on Wednesday following the US midterm election results. The Democrats’ victory gives them a stronger platform to challenge US President Trump’s trade policies, although they still lack the votes needed to override his veto on efforts to reverse tariffs or revoke trade authorities. The US-Canada trade dispute began in 2025, when Trump signed orders imposing broad tariffs on Canadian goods. The measures took effect in March, alongside Canada’s retaliatory duties.
Trump later exempted USMCA-compliant goods but imposed additional tariffs on steel, aluminum and automotive imports. On the earnings front, Canadian Natural Resources beat third-quarter profit estimates, supported by higher crude prices and stronger production. Nutrien, meanwhile, missed expectations amid surging sulfur input costs in its phosphate segment and lower nitrogen sales volumes.