Daily Markets Update: Oil Plunges 7.6%, TSX Rebounds as Midterms Day Arrives
Oil had its worst day since July, and Canadian stocks took the hint. The S&P/TSX Composite recovered from Friday’s rout on Monday as crude tumbled on hopes of US–Iran talks, but a fresh chip selloff pulled the Nasdaq lower on Wall Street. Overnight, Asia was dragged by South Korean tech and Europe slipped after a reported US strike on Iran’s Qeshm Island pushed oil back up. It’s US midterms day. Here’s the full picture. Monday, Nov. 2 closing figures, plus Tuesday morning moves (as of early Tuesday ET; Tuesday numbers will keep changing). Market Snapshot Market Monday close Change S&P/TSX Composite 35,801.09 +0.51% Dow Jones 51,983.98 +0.41% S&P 500 7,541.40 −0.51% Nasdaq Composite 25,164.32 −1.07% Brent crude US$104.77 −7.6% WTI crude US$96.46 −7.4% Gold (spot) ~US$3,945 +1.3–1.8% Canadian dollar ~71.5¢ US flat US 10-year yield ~4.90% −2 to −5 bp Canada: TSX Bounces Back, Energy Takes the Hit The TSX gained 181.06 points, or 0.51%, to close at 35,801.09, recovering ...
