Canada Stock Market Today: TSX Surges on Tech and Gold Rally as Fed Rate‑Cut Bets Build

Toronto – Monday, November 24, 2025

Canada’s stock market kicked off the week with a powerful risk‑on move as the S&P/TSX Composite Index jumped more than 300 points, driven by a broad rally in technology and materials stocks and renewed optimism that the U.S. Federal Reserve will cut interest rates in December. ^[1]

By early afternoon Eastern time, the TSX had climbed past the 30,500 mark, up just over 1% on the day after touching an intraday high above 30,530. ^[2] The move follows last week’s AI‑driven tech sell‑off and marks a sharp rebound in risk appetite for Canadian equities.

TSX today: key numbers at a glance

As of midday–early afternoon on November 24, 2025:

S&P/TSX Composite Index:
- Trading around 30,500–30,500+, up roughly 1.0%–1.4% on the day.
- Intraday high reported near 30,536. ^[3]
Point move:
- Up around 313–341 points versus Friday’s close, according to midday updates from Canadian Press and RTTNews. ^[4]
Technology sector:
- Information Technology Capped Index up more than 4.5%, making it the best‑performing group on the day. ^[5]
Gold miners:
- Gold‑mining sub‑index up roughly 3%–3.5% as bullion trades above US$4,080 an ounce. ^[6]
Energy:
- Energy shares slightly lower, with the sector down about 0.3% even as crude adds a few cents. ^[7]
Canadian dollar:
- Loonie near US$0.7087, down marginally from about US$0.7092 on Friday. ^[8]
Commodities:
- WTI crude (January) around US$58.39 per barrel, up about US$0.33.
- December gold up roughly US$9, near US$4,088.80 an ounce. ^[9]

While final closing data will settle later in the session, the picture so far is clear: Canada’s main stock index is firmly higher, with risk‑sensitive sectors in the lead.

Tech stocks roar back after AI‑driven sell‑off

After a rough stretch driven by concerns about overheated AI valuations, Canadian tech shares staged a powerful comeback today. ^[10]

Midday data showed:

The Information Technology Capped Index up more than 4.5%. ^[11]
Celestica Inc. soaring nearly 13%.
Bitfarms jumping around 10.5%.
Shopify gaining roughly 4.5% by early afternoon, with separate quote data showing the TSX‑listed shares trading near C$219, up more than 5% on the day. ^[12]

A host of other mid‑cap and small‑cap names — including Sylogist, Firan Technology Group, Blackline Safety, BlackBerry, Tecsys, Quarterhill and CGI — were also posting strong gains, according to intraday reports. ^[13]

Behind the rally:

Investors are bargain‑hunting after last week’s tech correction, which saw global AI‑linked names sell off on valuation concerns. Reuters notes the TSX had fallen about 0.5% last week amid that global pullback. ^[14]
Comments from New York Fed President John Williams on Friday — saying there’s room for rate cuts “in the near term” — helped reset expectations toward a potential Fed cut in December, easing pressure on long‑duration growth stocks. ^[15]

For investors focused on the Canada stock market today, the message is that tech sentiment has flipped back to risk‑on, at least for now, with Shopify and chip‑ and hardware‑related names leading the charge.

Gold miners shine as bullion stays above US$4,000

Materials and especially gold miners were the other big story on the TSX today.

Mid‑session data showed:

The gold miners sub‑index up around 3.5%. ^[16]
Spot and futures gold prices holding near US$4,090–4,100 per ounce, extending a historic run underpinned by lower‑rate expectations and a softer U.S. dollar. ^[17]

RTTNews’ midday snapshot highlighted a long list of double‑digit or high‑single‑digit movers in the materials space: ^[18]

Aris Gold up nearly 10%.
Fortuna up about 9.5%.
Orla Mining gaining roughly 8.5%.
Barrick, Iamgold, G Mining Ventures, Perpetua Resources, B2Gold, Capstone, Lundin Gold and New Goldall higher by roughly 5.5%–7%.

Barrick–Mali breakthrough boosts sentiment

One of the most closely watched stories in the Canadian stock market today is Barrick’s agreement in principle with the government of Mali.

Reuters reports that Barrick and Mali have reached a verbal agreement to settle a dispute over the Loulo‑Gounkoto gold mining complex, paving the way to hand back operational control and drop outstanding legal charges. Barrick’s Toronto‑listed shares were up roughly 5.9% on the news in morning trading. ^[19]

The combination of:

Record‑level gold prices,
A thaw in a major African asset dispute, and
Positive analyst coverage (including a Bank of America upgrade to “Buy” earlier today),

has helped turn gold miners into one of the strongest pockets of the TSX.

Energy lags as oil stays under US$60

In contrast to tech and miners, energy stocks were modest underperformers on the Toronto Stock Exchange today.

Reuters puts the TSX energy index down about 0.3%, even as the January WTI crude contract edged up roughly US$0.33 to US$58.39 per barrel. ^[20]

Behind the softer tone in Canadian oil names:

Reports of progress in Ukraine peace talks have raised the possibility of easing sanctions on Russia, which could increase global supply down the road. ^[21]
After a strong multi‑week run in commodities and the TSX generally, some traders are simply locking in profits in cyclical areas that led earlier phases of the rally.

For Canada stock market investors, this creates a familiar split:

Gold and base‑metal miners are acting as leverage on the “Fed‑cut + weak dollar” trade.
Energy names are more sensitive to geopolitics and medium‑term supply expectations, and are taking a breather despite slightly firmer crude.

The loonie, banks and domestic data

A softer Canadian dollar

The Canadian dollar traded around US$0.7087 in late morning dealings, slightly weaker than Friday’s close. ^[22]

A softer loonie:

Supports exporters and globally focused miners — part of what’s helping the TSX today.
Also reflects lingering concerns about domestic growth, even as markets cheer the prospect of lower U.S. rates.

Banks: steady but not spectacular

Unlike tech and miners, Canadian bank stocks moved only modestly higher:

Quote data for Canadian Imperial Bank of Commerce (CIBC), for example, showed the shares up only about 0.1% around mid‑session. ^[23]

At the same time, a significant structural banking headline hit the tape:

Scotiabank (Bank of Nova Scotia) confirmed it has received all required regulatory approvals to transfer its banking operations in Colombia, Costa Rica and Panama to Davivienda. In return, Scotiabank will hold roughly 20% of the new Davivienda Group. ^[24]

That deal underscores a broader theme in the Toronto stock market today: big banks are repositioning geographically and strategically, but the day‑to‑day price action is being driven more by rate‑sensitive tech names and commodity plays than by financials.

Early look at Canadian manufacturing

On the macro side, advance estimates from Statistics Canada point to a 1.1% decline in manufacturing sales in October, following a 3.3% increase in September. ^[25]

That soft print:

Reinforces the idea that the Canadian economy is slowing, even as markets bet on Federal Reserve easing.
Helps explain why bond yields and the loonie are subdued, even on a strong day for equities.

Fed rate‑cut bets and global backdrop

Much of the Canada stock market move today is being driven by U.S. monetary policy expectations and global risk sentiment.

Key drivers:

Fed expectations:
- Traders see growing odds of a December rate cut after recent comments from New York Fed President John Williams about scope for “further adjustment” in rates in the near term.
Mixed but improving U.S. data:
- Recent U.S. jobs numbers showed solid job creation but a still‑soft labor market, reinforcing hopes that inflation is under control.
Seasonality:
- This week marks the start of the U.S. Thanksgiving–Black Friday–Cyber Monday stretch, historically one of the stronger weeks for North American equities. Reuters quoted portfolio managers expecting a “stronger week” for stocks following a corrective phase.

Wall Street’s strength is feeding directly into Toronto stock market performance today, with all three major U.S. indices sharply higher at midday and the Nasdaq up more than 2%.

Climate and ESG in focus: Canada Climate Week Xchange opens at TSX

Beyond index levels, ESG and climate finance were front and centre in Toronto’s capital markets today.

The Toronto Stock Exchange opened trading with a market‑open ceremony to launch the inaugural Canada Climate Week Xchange (CCWX):

CCWX is a new initiative founded by TSX along with partners such as Canada Climate Law Initiative, CPA Canada, First Nations Financial Management Board, GLOBE and the Responsible Investment Association.
The program runs November 24–30, 2025, with nearly 100 events focused on climate‑related risks and opportunities for Canadian companies and investors.

TSX executives emphasized that:

Climate action requires sustained collaboration across corporates, investors, regulators and Indigenous organizations.
Listed companies will increasingly be expected to demonstrate credible transition plans and climate governance.

For investors watching the Canada stock market today, CCWX is a reminder that ESG factors and climate policy are no longer peripheral — they’re becoming central to valuation, capital access and long‑term index composition.

What Canada stock market investors should watch next

Looking beyond today’s rally on the TSX, several catalysts are likely to steer Canadian stocks over the rest of the week and into December:

Federal Reserve December meeting odds
- A single strong or weak U.S. data point could reprice rate‑cut probabilities, swinging global yields and growth‑stock valuations.
- TSX tech names (Shopify, Celestica, Bitfarms) and rate‑sensitive REITs and utilities may be especially reactive.
Canadian Q3 GDP
- Markets are watching Friday’s GDP release to see whether Canada is slowing gently or flirting with recession.
- A stronger‑than‑expected print would tend to support banks and cyclicals; a weak one could push investors back toward defensive gold and utilities.
Gold and oil trends
- If gold stays above US$4,000, the TSX’s heavy roster of miners could remain a key outperformer.
- Conversely, any decisive move above or below US$60 oil would likely reset sentiment toward Canadian large‑cap energy names. ^[26]
Ongoing corporate headlines
- Follow‑through on Barrick’s Mali agreement,
- Integration details around Scotiabank’s Latin American asset transfer, and
- Potential dividend and capital‑return news from Canadian banks and insurers
  will all shape sector‑specific performance.

Bottom line: a broad‑based rebound with commodities in the driver’s seat

For anyone searching “Canada stock market today” or “TSX today”, the story on November 24, 2025 is straightforward:

The S&P/TSX Composite is solidly higher, up more than 300 points and trading comfortably above 30,500.
Technology and gold miners are leading the charge, reversing last week’s AI‑driven weakness.
Energy and big banks are participating, but more cautiously, as investors weigh oil dynamics and domestic growth risks.
The macro backdrop — Fed cut hopes, elevated gold, a soft loonie and climate‑focused capital‑markets initiatives — is giving Canada’s commodity‑heavy index a fresh tailwind into year‑end.

For traders and long‑term investors alike, today’s action underscores a familiar TSX theme: when global risk appetite improves and gold is strong, Canada’s stock market tends to punch above its weight.

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