Canada's main stock index inched lower on Monday, aided by gains in gold and silver miners, while domestic inflation data did little to sway expectations around the Bank of Canada's monetary policy path.
The TSX backpedaled 52.01 points mid-Monday at 31,475.38.
The Canadian dollar increased 0.18 cents at 72.65 cents U.S.
Among corporate updates, Australia's Fortescue said it would buy the remaining 64% of Alta Copper in a deal valued at $139 million. Alta shares acquired 16 cents, or 12.7%, to $1.38.
Chinese metals miner and processor CMOC Group said its unit CMOC Ltd plans to buy Leagold LatAm Holdings B.V. and Luna Gold Corp from Equinox Gold Corp for a combined $1.015 billion. Equinox shares buckled 96 cents, or 4.8%, to $19.27.
It’s a busy day on the economic beat, with manufacturing figures down 1.0% for October, driven by lower sales in the chemical, wood product and transportation equipment subsectors.
The Consumer Price Index rose 2.2% year over year in November, matching the increase from October. On a seasonally-adjusted monthly basis, the CPI rose 0.2% in November.
Housing starts climbed to 254,100 in November, compared to 232,200 in October, according to Canada Mortgage and Housing Corporation.
MLS stats for November from the Canadian Real Estate Association showed the number of home sales declined 0.6% on a month-over-month basis in November 2025, still well above April levels but mostly unchanged since July.
ON BAYSTREET
The TSX Venture Exchanged retreated 12 points to 942.61.
All but three of the 12 TSX subgroups were negative by noon, with energy doffing 1.7%, while information technology and materials each shed 0.6%.
The three gainers were consumer staples, up 0.6%, financials, up 0.4%, and industrials, better by 0.2%.
ON WALLSTREET
The S&P 500 wavered on Monday as key stocks in the artificial intelligence trade continued to face pressure.
The Dow Jones Industrials went south 116.82 points to move into Monday afternoon at 48,341,23.
The much-broader index settled 11.86 points to 6,815.55.
The NASDAQ sank 90.44 points to 23,104.73.
Certain AI stocks bogged down the broader market during Monday’s session. Shares of Broadcom and Oracle declined more than 4% and more than 2%, respectively.
Others like Microsoft also suffered some losses.
Those moves came after the S&P 500 and Nasdaq fell last week, as those two stocks led a rotation away from AI. The S&P 500 lost 0.6% last week, while the NASDAQ shed 1.7%.
The Dow, which is less exposed to tech and AI than the other two benchmarks, rose 1.1%.
Oracle plunged 12.7% for the week, while Broadcom shed more than 7%. The S&P 500 tech sector dropped 2.3%.
Economic data reports could set the tone for the market in the week ahead. November nonfarm payrolls figures are set for release Tuesday, along with October retail sales figures. These reports were delayed due to the U.S. government shutdown that took place in the fall.
Economists polled by FactSet are expecting the November nonfarm payroll data to show an increase of 40,000 on the month, which would mark a significant drop from the 119,000 jobs added in September.
Prices for the 10-year Treasury moved slightly lower, raising yields to 4.18% from Friday’s 4.15%. Treasury prices and yields move in opposite directions.
Oil prices slumped 83 cents to $56.61.
Gold prices dumped $2.80 to $4,325.50.
