Canada’s benchmark stock index leaped forward on Wednesday as rising gold prices lifted mining stocks.
The rally comes after a decisive US election outcome handed Democrats control of both the Senate and the House of Representatives. The party’s success included wins in long-standing Republican strongholds, reflecting a sharp voter backlash against President Donald Trump.
Leading up to the vote, markets were uneasy about a Democratic sweep, particularly because it could weigh on AI-related stocks. Investors were also wary that the election might not produce a clear result on election night. Those fears subsided, however, after Trump said he would accept the election outcome and work with Democrats moving forward.
| TSX | 36,341.40 | +809.12 |  |
| TSXV | 814.37 | +19.68 | |
| CSE | 130.49 | -1.16 |  |
| DJIA | 53,356.12 | +1,569.40 | |
| NASDAQ | 25,736.51 | +364.50 | |
| S&P 500 | 7,688.62 | +119.70 | |
The Canadian dollar traded for 71.61 cents US compared to 71.41 cents US on Tuesday.
US crude futures traded US$7.39 lower at US$88.70 a barrel, and the Brent contract lost US$8.41 to US$95.19 a barrel.
The price of gold was up US$134.21 to US$4,064.66.
In world markets, the Nikkei was down 893.23 points to ¥62,188.63, the Hang Seng was up 393.53 points to HK$23,919.50, the FTSE was up 198.89 points to ₤10,837.32, and the DAX was up 608.21 points to €26,509.12.