- TSX Composite opened at 35,899, up +0.31%, while the S&P 500 rose +0.36% to 7,651 in the first 15 minutes of trade.
- Gold surpassed $4,000 USD/oz overnight, reaching $4,016.60 (+0.22%), or approximately $5,621 CAD/oz, lifting TSX-listed precious metals miners.
- Brent crude’s sharp -5.42% drop to $110.39/bbl is flagging unusual overnight selling, dragging the TSX energy sub-index into negative territory.
- Copper’s +0.91% advance to $6.535/lb is supporting base-metals and diversified mining stocks, partially offsetting energy sector losses on the TSX.
9:45 AM ET — The TSX Composite opened Monday’s session at 35,899, up 111 points or +0.31% in the first quarter-hour of trade. South of the border, the S&P 500 climbed 27 points to 7,651 (+0.36%) and the NASDAQ added 62 points to 26,019 (+0.24%), with technology lagging the broader rally slightly as bond yields ticked higher overnight.
Gold Breaks $4,000 — Miners Gap Higher at the Open
The dominant overnight catalyst is gold’s sustained push above the psychologically critical $4,000 USD per ounce level — settling at $4,016.60 (+0.22%) in early Monday trade, or roughly $5,621 CAD/oz at the prevailing USD/CAD rate of 1.3995. Precious metals miners on the TSX are gapping up on heavy early volume, with the gold sub-index among the session’s top performers. Copper is also contributing to the materials bid, adding +0.91% to $6.54/lb, a tailwind for diversified base-metals names listed on the TSX and TSX-V.
Energy Sector Drags — Crude Sees Unusual Selling Pressure
The session’s clearest laggard is the energy sector, where WTI crude has dropped $1.88 to $101.39/bbl (-1.82%) — a notable intraday move. More striking is Brent crude, off a sharp $6.30 to $110.39/bbl (-5.42%), a move large enough to flag as potentially driven by a specific overnight demand or geopolitical development rather than routine profit-taking. Canadian oil sands and integrated producers are under early pressure, with the TSX energy sub-index trading in negative territory while the broader index holds its gain. Investors should watch for any formal OPEC+ communiqué or macro demand data that may have hit wires in Asian or European hours.
Market Snapshot: 9:45 AM ET
| Asset | Level | Change |
|---|---|---|
| TSX Composite | 35,899 | +0.31% |
| S&P 500 | 7,651 | +0.36% |
| NASDAQ | 26,019 | +0.24% |
| Gold (USD/oz) | $4,016.60 | +0.22% |
| Silver (USD/oz) | $53.69 | -0.05% |
| WTI Crude (USD/bbl) | $101.39 | -1.82% |
| Brent Crude (USD/bbl) | $110.39 | -5.42% |
| Copper (USD/lb) | $6.535 | +0.91% |
| USD/CAD | 1.3995 | — |
Silver Flat, NASDAQ Trails — What to Watch
Silver is essentially unchanged at $53.69/oz (-0.05%), diverging from copper’s strong open and suggesting the precious-metals complex is being driven by safe-haven gold demand rather than a broad industrial-metals rally. The NASDAQ’s underperformance relative to the S&P 500 and TSX — trailing by roughly 12 basis points — points to mild rotation out of high-multiple tech names, consistent with a risk landscape where hard assets are leading. Retail investors tracking Canadian tech listings on the TSX should note the muted tone in growth equities to start the week.
With energy acting as a meaningful headwind and gold miners providing the upside spark, the TSX’s modest gain reflects a sector tug-of-war in progress. The next key data point will be whether Brent’s outsized drop — nearly 5.5% — stabilizes or accelerates into the 10 AM hour, which could reset the TSX’s opening trajectory quickly.
