Toronto — The market closed at 04:46 EST on February 16, 2026.
- Family Day keeps Toronto Stock Exchange markets closed; trading picks up again on Tuesday.
- Miners and energy stocks pushed the S&P/TSX composite up 1.9% Friday, reacting to softer U.S. inflation numbers.
- Oil stayed close to $68 a barrel with U.S.-Iran talks on deck; gold stuck near $5,000 an ounce as thin holiday volumes sapped liquidity.
The Toronto Stock Exchange and other Canadian trading venues are shut for Family Day on Monday, reopening Tuesday. (TSX.com)
With no cash session, investors are left to track offshore price moves. Volume has stayed light, thanks to Lunar New Year closures in some Asian markets and the U.S. out for Presidents’ Day. (Reuters)
This all lands squarely on the TSX, which is loaded with commodity names and rate-sensitive stocks—both just moved during the holiday break. On Friday, the S&P/TSX composite rallied 608.43 points, or 1.9%, closing at 33,073.71 after U.S. inflation data came in softer, pushing traders back toward rate-cut wagers. Materials jumped 4.4%. Energy up 1.8%. The Canadian 10-year yield? Down to 3.234%, a two-month trough. “If inflation continues to trend lower… it makes a strong case for a June cut,” said Ian Chong, portfolio manager at First Avenue Investment Counsel Inc. (Reuters)
Oil prices barely budged Monday, with traders eyeing U.S.-Iran nuclear talks set for Tuesday and weighing the odds of new supply shifts later this year. Brent crude slipped just 3 cents, settling at $67.72 a barrel. U.S. WTI hovered at $62.86, but there’s no WTI settlement because of the U.S. holiday. “This is likely to be the calm before the storm,” said IG’s Tony Sycamore. Sugandha Sachdeva at SS WealthStreet flagged that with thin liquidity, price swings could turn “erratic.” (Reuters)
Gold edged lower in subdued holiday trading, with TSX-listed miners often moving in tandem. Spot prices dropped 0.7% to $5,007.70 per ounce. “Range-trading around $5,000/oz,” UBS analyst Giovanni Staunovo said, pointing to thin market conditions. After gold’s recent rally, OANDA’s Zain Vawda said he’s scaled back his medium-term target. (Reuters)
Friday saw the Canadian dollar edging down 0.1% to 1.3620 against the U.S. dollar, trading through turbulence. Still, thanks to softer U.S. inflation numbers, the loonie kept its weekly advance. (Reuters)
TC Energy topped fourth-quarter profit forecasts on the back of record natural gas flows and bumped its quarterly dividend by 3.2%, now at C$0.8775 per share. On the analyst call, executives projected North American natural gas demand climbing by 45 billion cubic feet per day between 2025 and 2035. Jefferies analysts, for their part, pointed to the timing of final investment decisions as a key variable. (Reuters)
Enbridge beat profit forecasts and highlighted a hefty backlog of projects as it targets surging power demand from data centers and AI-driven needs. CEO Greg Ebel mentioned the company is pushing ahead with “over 50” separate data centre projects. On the analyst front, Manav Gupta at UBS noted Enbridge “continues to prioritize balance sheet strength.” Shares popped nearly 3%, hitting a new record at C$72.57 on Friday. (Reuters)
Magna International bumped up its full-year adjusted earnings outlook, targeting $6.25 to $7.25 a share—well ahead of the $5.99 consensus. The auto parts maker credited cost controls and resilient demand for components used in gas and hybrid models. Magna also disclosed a $591 million charge in its electronics business, and noted it’s still unable to pin down potential liabilities related to ongoing rearview camera recall discussions with Ford. (Reuters)
Macro takes center stage next. Statistics Canada has pushed the January CPI release to Tuesday, February 17, from the original Monday slot. The agency also detailed tweaks to its method for revising CPI-median and CPI-trim—core measures that cut out the wildest price swings—beginning with January’s numbers. According to the release calendar, wholesale trade and international securities transactions land on Tuesday, building construction and monthly credit aggregates hit Wednesday, and retail trade wraps up the week on Friday. (Statistics Canada)
Still, the picture’s complicated. An unexpected reading in Canada’s inflation numbers might shake bond yields, putting the squeeze on those rate-sensitive stocks that just rallied Friday. Oil’s another wild card—if geopolitics send prices spiking, energy names could climb, even if that cranks up tighter conditions across other assets. And with liquidity running thin, any swings risk getting blown out of proportion, only to reverse once normal trading picks up again.
Once trading resumes Tuesday, TSX energy stocks are looking ahead to an OPEC+ meeting set for March 1. Eight member nations are on the agenda, with Reuters saying the group is considering bringing oil output hikes back on the table for April. (Reuters)
