S&P/ TSX Composite: 0.8% decline sets cautious Wednesday pre-open tone
Published on 11/11/2026 at 13:18 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points before Toronto opens
- The S&P/TSX Composite closed Tuesday at 36,170.45 points, down 275.81 points or 0.8 percent.
- Materials shares led the decline as hotter-than-expected US inflation raised expectations for higher Federal Reserve rates.
- Toronto markets are scheduled to open on Remembrance Day, with several TSX companies due to report earnings.
The S&P/TSX Composite is set for a cautious start to Wednesday's Toronto session after a sharp retreat on Tuesday. The Canadian benchmark closed November 10 at 36,170.45 points, down 275.81 points, or 0.8 percent, according to Reuters via Marketscreener. The loss followed Monday's strongest closing level since September 4.
Inflation weighs on materials
Materials stocks were the main drag on the index, with the sector falling 3.9 percent. Reuters attributed the pressure to declines in gold and copper after stronger-than-expected US consumer inflation increased expectations that the Federal Reserve could raise interest rates again next month. Gold fell 2.6 percent and copper was trading 1.8 percent lower in the report. Higher borrowing costs and weaker expectations for economic activity can also affect demand assumptions for Canada's commodity-heavy equity market, although the report did not establish a direct forecast for Wednesday's opening.
Other Tuesday sector moves were mixed. Consumer discretionary stocks fell 0.8 percent and interest-rate-sensitive real estate declined 0.7 percent, while energy gained 1.1 percent and provided some offset despite lower crude prices. The backdrop leaves commodities, US bond yields and developments affecting Middle East supply risks as relevant variables for the resource-heavy benchmark.
Markets open despite Remembrance Day
Canada's stock markets are scheduled to remain open on Wednesday, while Canadian bond markets are closed for Remembrance Day, according to BNN Bloomberg. That calendar lists before-market results from CGI and Boyd Group, followed by after-market reports from Power Corp. of Canada, Cargojet, Bird Construction, Franco-Nevada, CAE and AG Growth. The scheduled releases may add company-specific signals to a session already sensitive to interest-rate and commodity news.
The S&P/TSX Composite is Canada's broad equity-market benchmark and is calculated in real time, according to S&P Dow Jones Indices. With Tuesday's close still the relevant reference point before Toronto opens, the first direction of the new session will depend on whether commodity and rate concerns continue to dominate positioning.
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