Daily Markets Update: TSX Up 0.9% on the Week, Wall Street’s Best Week Since August, Gold Slumps (Nov 14)

 

DAILY MARKETS UPDATE  |  Saturday, November 14, 2026  |  Covers Friday’s close

Stocks ended a turbulent week with a split decision on Friday, but the weekly scoreboard was green almost everywhere. Canada’s S&P/TSX Composite slipped 31.29 points to 36,105.90, yet still finished the week up about 0.9%. On Wall Street, the S&P 500, Nasdaq and Dow all posted weekly gains, snapping four-week losing streaks for the S&P 500 and the Nasdaq, even as Nvidia kept sliding after CEO Jensen Huang’s sudden exit. Gold, meanwhile, had its worst week in months, oil edged lower for a second straight week, and the Canadian dollar closed at about 70.14 cents US.

Friday’s Big Picture

TSX: ▼ 0.09% to 36,105.90 on the day; ▲ ~0.9% on the week.

Wall Street: S&P 500 ▼ 0.4% on the day but ▲ 2.5% on the week, its best week since August.

Gold: about US$3,880 an ounce, down roughly 4.5% to 5% on the week after touching its lowest level since October 2025 on Thursday.

Oil: WTI settled at US$88.56, Brent at US$95.84, each down about 2.5% on the week.

Next up: Canada’s October CPI lands Monday at 8:30 a.m. ET.

Canada: TSX Dips, But Holds Its Weekly Gain

The TSX gave back a sliver of Thursday’s level on Friday, but the index still added roughly 317 points over the week. Defensive and interest-sensitive sectors did the heavy lifting: real estate rose 1.1%, consumer staples gained 0.8% and utilities added 0.7%. Information technology was the biggest drag, down 1.3%, followed by materials (down 0.4%) and financials (down 0.3%).

Canadian Market	Close	Day	Week
S&P/TSX Composite	36,105.90	▼ 31.29 (−0.09%)	▲ ~317 (+0.9%)
TSX Venture Exchange	798.46	▼ 4.32	▼ 23.7 (−2.87%)
Canadian dollar (US¢)	70.14¢	▬ flat	▼ ~0.7¢

Stocks in the spotlight: Stantec jumped about 13.8% to $122.20 after third-quarter revenue and adjusted profit beat estimates. Celestica fell 5.3% to $342.58 as tech names took their lumps, while grocers Metro (up 1%) and George Weston (up 1.1%) gained ahead of next week’s earnings calendar.

Economic data: Statistics Canada said wholesale trade rose 0.7% to $92.5 billion in September, while manufacturing sales were essentially unchanged on the month. Quarterly manufacturing sales rose 1.7% in the third quarter.

The loonie: The Canadian dollar finished at about 70.14 cents US (roughly C$1.4257 per US dollar), basically unchanged from Thursday, which was its weakest close since mid-October. The U.S. dollar index touched a 52-week high on Friday, a reminder that rate-hike bets in the U.S. are doing the work against most currencies right now.

U.S. Markets: Best Week Since August, Despite Friday’s Tech Slide

Wall Street opened Friday with a lift after October’s producer price index rose 0.3% on the month, a touch cooler than the 0.4% economists expected. That relief faded fast. The annual PPI reading came in at 6.5%, the biggest yearly jump since November 2022, and the 10-year U.S. Treasury yield rose to about 5.16%. Tech then dragged the indexes lower as Nvidia extended its slide.

U.S. Index	Close	Day	Week
Dow Jones Industrial Average	52,347.55	▲ 50.46 (+0.1%)	▲ ~2.1%
S&P 500	7,561.67	▼ 30.73 (−0.4%)	▲ ~2.5%
Nasdaq Composite	25,136.27	▼ 229.82 (−0.9%)	▲ ~2.3%

Nvidia: The chipmaker fell about 2% on Friday after dropping more than 4% on Thursday, when founder and CEO Jensen Huang stepped down. HSBC downgraded the stock to “hold,” arguing it could languish until a permanent succession plan is in place. CFO Colette Kress is serving as interim CEO while the board searches. The stock has now lost six straight weeks, its longest weekly losing streak since 2012, and its earnings report is due Tuesday.

The Fed: After the PPI release, futures priced roughly an 89% chance of a 25-basis-point Fed hike in December and about 11% odds of a larger 50-basis-point move. Higher-for-longer U.S. rates are the main reason gold and bonds have been under pressure all week.

Europe: Record Close for the STOXX 600

European stocks ended the week at fresh highs. The pan-European STOXX 600 closed barely changed at 664.14, a record, finishing up about 2.4% on the week for its best weekly gain since June. Strong third-quarter earnings and lower oil prices helped, and the region’s light exposure to U.S. mega-cap tech cushioned it from the Nvidia fallout. London’s FTSE 100 closed at a three-month high.

European Index	Close	Day	Week
STOXX Europe 600	664.14	▲ 0.02%	▲ ~2.4%
Germany DAX	26,749.95	▼ 0.08%	▲ ~3.6%
UK FTSE 100	10,902.56	▲ 0.36%	▲ ~2.1%
France CAC 40	8,368.91	▲ 0.09%	n/a

Asia: Mixed as Chip Rebound Fades

Asian markets opened with a bounce in chip stocks, then gave much of it back. South Korea’s Kospi jumped nearly 3% early before closing down about 1%. Japan’s Nikkei held on to a gain, while Hong Kong and mainland China ended lower.

Asian Index	Close	Day
Japan Nikkei 225	61,142.35	▲ 0.53%
Japan Topix	3,941.57	▲ 0.11%
South Korea Kospi	5,290.53	▼ 0.98%
Hong Kong Hang Seng	~23,638	▼ ~1.55%
Shanghai Composite	3,634.35	▼ 0.59%

Oil and Gold: Supply Worries Fade, Rate Hikes Weigh on Bullion

Oil finished mixed on Friday but extended its slide for the week. An International Energy Agency report pointing to a growing global surplus and signs of softer U.S. demand outweighed ongoing Middle East shipping risks. It follows a steep drop the week before, when Brent fell about 16% and WTI about 13%.

Commodity	Price	Day	Week
WTI crude (US$/bbl)	$88.56	▼ 0.18 (−0.2%)	▼ ~2.5%
Brent crude (US$/bbl)	$95.84	▲ 0.02	▼ ~2.5%
Gold (US$/oz, spot)	~$3,880	▬ little changed	▼ ~4.5%–5%

Gold bounced modestly on Friday after sliding about 3% on Thursday to a more-than-one-year low near US$3,852. Rising Fed hike expectations and a stronger U.S. dollar have been the main culprits, and bullion is on track for its worst week since early June.

What It Means for You

Variable-rate and HELOC borrowers: Monday’s Canada CPI is the next big test for the Bank of Canada’s December 9 decision. Economists expect October inflation to tick up to about 3.2% from 3.1%. A hotter reading strengthens the case for another rate hike, which would push up the cost of variable-rate mortgages and lines of credit.

Fixed-rate shoppers and renewals: Canadian bond yields tend to follow U.S. yields, and the U.S. 10-year is hovering around 5.16%. That keeps upward pressure on fixed mortgage rates. If you have a renewal coming up, ask your lender about a rate hold.

TFSA and RRSP investors: If your index funds track the S&P 500 or Nasdaq, you own Nvidia. Its earnings on Tuesday could swing your account value. Gold had a rough week too, a good reminder to check how concentrated your portfolio is in any single theme.

Travel and U.S. purchases: At about 70 cents US, the loonie makes U.S. dollar spending (travel, cross-border shopping, US stocks bought in CAD) more expensive. The flip side: if you already hold U.S. assets, a weaker loonie boosts their value in Canadian dollars.

At the pump: Two straight weekly drops in crude are good news, but pump prices usually lag oil by a week or two, so don’t expect instant relief.

Looking Ahead: The Week of November 16

When	What to Watch
Mon, Nov 16	Canada October CPI (8:30 a.m. ET). Consensus: +0.3% m/m and +3.2% y/y, up from 3.1% in September.
Tue, Nov 17	Nvidia, Home Depot and Disney earnings. Also U.S. retail sales and Canada’s October existing home sales (CREA).
Wed, Nov 18	Fed minutes from the October 27–28 meeting (2 p.m. ET). Also earnings from Metro, Target and Lowe’s.
Thu, Nov 19	Walmart and Loblaw earnings, a read on grocery prices and consumer spending.
Fri, Nov 20	Canada September retail sales (8:30 a.m. ET). Consensus: +0.7%.

Markets are closed for the weekend and reopen Monday. We’ll be back with the Daily Markets Update after the open, and we’ll break down the CPI numbers and what they mean for your mortgage as soon as they land.

Sources: Closing figures compiled from The Canadian Press, Baystreet.ca, The Western Producer (Canadian Financial Close), AP, CNBC, Reuters and Kitco News. Index levels and percentage changes are based on Friday, November 13, 2026 closing data; gold is quoted at spot and may differ slightly by source. This article is for general information only and is not financial advice. Consider speaking with a licensed advisor before making investment decisions.