Futures linked to Canada's main stock index held steady on Monday as investors weighed growing odds of a U.S. Federal Reserve rate cut in December, while declining oil prices put pressure on the commodity-heavy market.
The TSX sprinted 254.1 points, to end the day and the week at 30,160.65. Still, the index lost 165 points, or 0.5%, over the last five sessions.
December futures were flat Monday.
The Canadian dollar slid 0.07 cents to 70.87 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 moved into positive territory 5.59 points to 854.76. The index lost 30.5 points, or nearly 3.45%, on the week.
ON WALLSTREET
Stock futures were mixed on Monday morning as the market seeks to rebound into the Thanksgiving holiday week after a slide that’s knocked the air out of this year’s AI bull run.
Futures for the Dow Jones Industrials acquired 34 points, or 0.1%, to 46,355.
Futures for the S&P 500 index picked up 23.25 points, or 0.4%, to 6,643.50.
Futures for the NASDAQ jumped 127 points, or 0.5%, to 24,432.50.
The stock market is closed on Thursday for Thanksgiving Day, and it shuts down early at 1 p.m. ET on Friday.
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 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.
In Japan, markets were closed Monday, while in Hong Kong, the Hang Seng restored 2%
Oil prices docked eight cents to $57.98 U.S. a barrel.
Gold prices dumped $15.50 to $4,064.00 U.S. per ounce.
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