TORONTO — Canada’s main stock index rose on Friday, breaking a string of negative moves throughout the week.
“We’re still constructive on the equity market, but I do think the catalyst today is definitely oil falling and stocks rising,” said Brianne Gardner, senior wealth manager of Velocity Investment Partners at Raymond James Ltd.
The S&P/TSX composite index was up 191.21 points at 35,697.49. The gains were helped by strength in the technology sector.
The October crude oil contract was down US$2.43 at US$100.05 per barrel after breaching the US$100 mark Thursday amid the ongoing war between the U.S. and Iran.
Meanwhile, Gardner said the Canada-U.S. trade dispute has been front and centre for investors.
The trade war entered a new chapter on Tuesday as the Canadian government introduced retaliatory tariff measures in response to previous U.S. tariffs. That prompted U.S. President Donald Trump to sign new executive orders to completely bar imports of certain Canadian goods starting later this month.
“Ottawa has so far signalled a measured response to the latest U.S. trade restrictions. I think all eyes are really shifting towards domestic investment,” Gardner said.
Prime Minister Mark Carney will hold his marquee investment summit in Toronto starting Monday. The two-day Canada Investment Summit has a goal to help facilitate $1 trillion in total investment in Canada over the next five years.
Also happening Monday, Statistics Canada is set to release its latest consumer price index for August. A Reuters poll of economists expects annual inflation held at three per cent last month, according to LSEG Data & Analytics.
“If inflation comes in hotter than expected, markets could certainly further reduce their expectations for monetary easing and Canadian bond yields could move higher. That’s potentially negative for sectors like utilities, telcos, REITs, and other rate-sensitive equities,” Gardner said.
“If inflation surprises lower, it would give those areas some breathing room.”
In New York, the Dow Jones industrial average was up 509.19 points at 52,573.29. The S&P 500 index was up 65.28 points at 7,656.98, while the Nasdaq composite was up 251.31 points at 26,333.04.
The U.S. Federal Reserve is set to make an interest rate announcement on Wednesday. U.S. inflation data released Friday strengthened expectations among traders that the Fed will feel compelled to hike its main interest rate at its meeting next week.
“Next week’s meeting is indeed huge. Don’t hike and risk a meltdown in the bond market. Don’t cut and risk a meltdown from President Trump, with geopolitical risks attached. Probably the most important Fed decision in recent history,” Sébastien Mc Mahon, chief economist at iA Financial Group, said in a statement.
Given the current backdrop, Gardner said she isn’t chasing the market.
“It’s important to be very selective right now, being patient and making sure you have a diversified portfolio because we do expect to see some volatility in the short term ahead,” she said.
The Canadian dollar traded for 72.12 cents US compared with 72.35 cents US on Thursday.
The December gold contract was up US$1.60 at US$4,408.90 an ounce.
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Daniel Johnson, The Canadian Press
With files from the Associated Press
This report by The Canadian Press was first published Sept. 11, 2026.
