Canada’s top stock index rallied on Monday, driven by strong performance in mining shares, as investors assessed increasing chances of a US Federal Reserve interest rate cut in December. The rally came after Fed official John Williams remarked on Friday that rates could decline “in the near term,” reinforcing expectations for a potential cut at the Fed’s December meeting.
US equities also advanced as markets aim to recover heading into Thanksgiving week, following a recent downturn that dented this year’s artificial intelligence rally. Alphabet (NASDAQ:GOOG) was up more than 6 per cent by close, riding momentum amid growing investor confidence in its position within the AI sector. Last week, Google introduced its enhanced AI model, Gemini 3, marking a significant update nearly eight months after the release of Gemini 2.5.
| TSX | 30,604.35 | +443.70 |  |
| TSXV | 880.47 | +25.71 | |
| CSE | 147.87 | +2.28 | |
| DJIA | 46,448.27 | +202.86 | |
| NASDAQ | 22,872.01 | +598.92 | |
| S&P 500 | 6,705.12 | +102.13 | |
The Canadian dollar traded for 70.89 cents US compared to 70.94 cents US on Friday.
US crude futures traded $0.40 higher at US$58.46 a barrel, and the Brent contract rose $0.37 to US$62.93 a barrel.
The price of gold was up US$36.74 to US$4,149.91.
In world markets, the Nikkei remained at ¥48,625.88, the Hang Seng was up 496.48 points to HK$25,716.50, the FTSE was down 4.80 points to ₤9,534.91, and the DAX was up 147.31 points to €23,239.18.
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