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CANADA STOCKS-TSX rises to fresh peak after key jobs report

ReutersJan 9, 2026 4:32 PM

By Utkarsh Hathi

- Canada's main stock index rose to a fresh peak on Friday, buoyed by gains in gold miners and energy stocks, while mixed labor market data did little to alter bets on the Bank of Canada's monetary policy path.

The S&P/TSX Composite index .GSPTSE was up 0.71% at 32,611.76 points as of 11:06 a.m. ET, poised for its biggest weekly gain in six weeks.

Canada created just 8,200 net new jobs in December after three months of outsize gains, with the unemployment rate rising to 6.8% from 6.5% in t he previous month, Statistics Canada said .

Still, analysts polled by Reuters had expected a net loss of 5,000 positions and a jobless rate of 6.6%, and traders continue to bet that the Bank of Canada will hold interest rates at 2.25% through the rest of the year.

"Our economy is incredibly interest-rate sensitive and rates need to continue to fall, especially with everything going south and what seems contrary to a never-ending boom in the stock market," said Matt Skipp, president of SW8 Asset.

"But the stock market is representative of a fairly benign global interest rate scenario."

Meanwhile, U.S. job growth slowed more than expected in December, but a decline in the unemployment rate to 4.4% bolstered investors' expectations that the Federal Reserve will hold interest rates in its next policy meeting.

Gold miners .SPTTGD gained 1.8% and the broader materials sector .GSPTTMT rose 2.2% as gold XAU= and silver XAG= prices looked set for weekly gains. GOL/

Oil prices LCOc1, CLc1 rose for a second straight session as concerns over civil unrest in Iran were offset by potentially higher supply from Venezuela.

TSX's energy sub-index .SPTTEN gained 1.2%, but was still on track for a steep weekly decline.

In notable stock moves, Aritzia ATZ.TO rose 5.2% to touch a record high after the apparel retailer's quarterly results beat estimates.

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