TSX Gains 319 Points as US Markets Decline

Canada's benchmark stock index advanced on Tuesday, October 13, 2026, as energy shares helped lift domestic equities despite declines across major US stock indexes. The S&P/TSX Composite Index climbed 319.36 points to 35,983.98, according to The Canadian Press, while investors also tracked movements in oil, gold, currencies, and international markets.

The Canadian market's advance contrasted with losses in New York, where the Dow Jones Industrial Average fell 180.45 points to 51,670.10. The S&P 500 slipped 1.79 points to 7,805.45, while the Nasdaq Composite dropped 41.52 points to 27,204.38, according to The Canadian Press.

Currency and commodity trading also reflected changing market conditions. The Canadian dollar traded at 70.31 US cents, compared with 70.07 US cents on Friday, according to The Canadian Press.

The November crude oil contract gained US$0.40 to US$94.14 per barrel. Meanwhile, the December gold contract declined US$13.30 to US$4,177.30 per ounce, according to the same report.

Baystreet.ca reported that Canadian stock futures had risen earlier Tuesday as bond yields stabilized and precious-metal prices edged higher. The domestic market was also navigating a global selloff in semiconductor shares, while investors assessed corporate earnings and developments in international markets.

The Canadian market had recorded a substantial advance in its previous session. According to Baystreet.ca, the S&P/TSX Composite Index rose 519.24 points, or 1.5%, to 35,664.62 on Friday, marking its largest single-session gain in five weeks. The index added 345 points, or 0.98%, over that week.

Baystreet.ca also reported that the Canadian dollar had gained 0.12 US cents to 70.14 US cents in the earlier trading update. Canadian markets were closed Monday for Thanksgiving, leaving Tuesday as the next trading session.

In the United States, investors weighed quarterly earnings from major financial institutions and pressure on semiconductor-related stocks. JPMorgan Chase initially fell after reporting third-quarter earnings and revenue below analyst expectations, but its shares subsequently recovered to trade 1% higher. Wells Fargo declined 0.5% following mixed third-quarter results.

Citigroup and Goldman Sachs were scheduled to release their results later Tuesday, according to Baystreet.ca. Analysts expected S&P 500 companies' profits to increase by nearly 30% from the year-earlier period, raising the importance of early earnings reports for the broader reporting season.

UnitedHealth gained 1% after its results exceeded analyst expectations. Elsewhere, semiconductor-related shares faced pressure following a sharp decline in South Korea's Kospi benchmark, which dropped 5.5% to its lowest level since July 31, amid valuation concerns and increasing competition from China.

Baystreet.ca reported that China's CXMT planned to introduce a more powerful chip by the end of the year. SK Hynix and Western Digital each fell about 5%, while Micron, Seagate Technology, and Sandisk declined more than 3% in the reported trading session.

Other Asian markets delivered mixed results. Japan's Nikkei 225 fell 1.8%, while Hong Kong's Hang Seng Index advanced 0.3%, according to Baystreet.ca. These movements accompanied broader investor attention to corporate earnings, technology-sector competition, and commodity prices.

Company-specific developments also emerged in Canada. Baystreet.ca reported that Czech arms maker CSG acquired a 9.5% stake in MDA Space, making it the Canadian satellite and space technology company's largest shareholder.

In the Canadian venture market, the TSX Venture Exchange gained 6.27 points on Friday to close at 874.03, although it lost 2.66 points, or 0.3%, over the week, according to Baystreet.ca.