- The TSX Composite gained 112 points (+0.31%) at the open, outperforming a softening S&P 500 (-0.15%) and a declining NASDAQ (-0.43%) in early Friday trade.
- Energy stocks are leading TSX gains as WTI crude rises to $89.28/bbl (+0.61%) and Brent hits $96.75/bbl (+0.97%), driven by a large overnight U.S. inventory drawdown.
- Gold at $3,897.50/oz (+0.31%) is supporting Canadian senior miners and royalty names, while copper (-0.35%) and silver (-0.44%) are pressuring base metal and junior mining stocks.
- Canadian tech and AI-linked equities are under early pressure as the NASDAQ selloff, tied to rising U.S. Treasury yields and weak semiconductor guidance, bleeds across the border.
Toronto, November 13, 2026, 9:45 AM ET — The TSX Composite opened the Friday session on firm footing, trading at 36,247, up 112 points or +0.31% in the first 15 minutes. The move puts Bay Street in clear contrast with a softening Wall Street, where the S&P 500 slipped to 7,581 (-0.15%) and the NASDAQ extended its early losses to 25,257 (-0.43%). Canada’s commodity-heavy index is benefiting from a broadly positive overnight session in crude oil and gold — two inputs that Wall Street’s tech-weighted benchmarks simply don’t have.
Energy and Gold Lead Early; Tech Drags South of the Border
WTI crude is adding to Thursday’s gains, trading at $89.28 per barrel (+0.61%), with Brent touching $96.75/bbl (+0.97%) — its highest level in several weeks. The overnight catalyst: a larger-than-expected drawdown in U.S. crude inventories reported late Thursday, combined with fresh supply disruption signals out of the Middle East. TSX-listed energy producers are among the strongest performers in early trade, with the sector logging some of the heaviest opening volume on the exchange. At USD/CAD 1.4249, WTI translates to roughly $127.21/bbl in Canadian dollars, a level that remains highly supportive of western Canadian producer margins.
Gold is also providing a tailwind for Canadian miners. Spot gold opened at $3,897.50/oz (+0.31%) — or approximately $5,553.72/oz CAD — keeping senior producers and royalty names well bid. Silver, however, is an early laggard at $49.75/oz (-0.44%), and copper slipped to $6.1610/lb (-0.35%), pressuring base metal names on the TSX and TSX-V. Junior miners with copper and silver exposure are showing early weakness, with some gap-down opens in the small-cap space on the CSE and TSX Venture.
Wall Street’s NASDAQ Selloff Weighs on Canadian Tech
The NASDAQ’s -0.43% opening decline is tracking an overnight rotation out of high-multiple growth names, driven by a fresh uptick in U.S. 10-year Treasury yields and cautious commentary from a major U.S. semiconductor company after Thursday’s close. That pressure is bleeding into Canadian technology and AI-linked equities, which are among the softer performers on the TSX in early trade. Investors are showing clear risk differentiation this morning: commodity exposure is being bid up, while rate-sensitive growth stocks face selling pressure.
Early Volume and Gap Moves to Watch
Unusual opening volume is concentrated in Canadian energy producers and large-cap gold royalty names, consistent with the commodity tailwinds described above. On the downside, at least two TSX-listed copper streaming companies opened with notable gap-downs of 1–2%, reflecting the overnight drop in base metals. Traders should also note that the CAD is holding relatively firm against the USD at 1.4249, which limits any additional currency-driven boost to commodity revenues compared to what producers saw when the loonie was weaker earlier this quarter.
| Asset | Level | Change |
|---|---|---|
| TSX Composite | 36,247 | +0.31% |
| S&P 500 | 7,581 | -0.15% |
| NASDAQ | 25,257 | -0.43% |
| WTI Crude | $89.28/bbl | +0.61% |
| Brent | $96.75/bbl | +0.97% |
| Gold (spot) | $3,897.50/oz | +0.31% |
| Silver (spot) | $49.75/oz | -0.44% |
| Copper | $6.1610/lb | -0.35% |
| USD/CAD | 1.4249 | — |
The divergence between the TSX and U.S. indices in the opening minutes is a clean expression of a classic commodity-vs-tech split. Watch energy and gold sectors for momentum continuation, and monitor whether NASDAQ weakness deepens — a broader risk-off turn could eventually pull Canadian equities lower regardless of crude’s strength. The next 45 minutes of trade will be telling.
