Canada’s main stock index wrapped up the first trading month of the year with a drop that took it down to 6,000 points above from where it stood at the end of 2025, but still a 4 per cent gain for the month. The Venture Exchange still clings to the “thousand-plus club”. Gold prices fell under expectations that US President Donald Trump has his eye on a more aggressive Federal Reserve Chair, leaving many to worry that a stronger dollar would make the precious metal less precious. Oil prices overcame earlier losses once concerns over supply disruptions in Iran eased.
Trump has nominated Kevin Warsh to replace Jerome Powell as Chair of the Federal Reserve. Warsh’s appointment is expected to calm worries about the Fed’s independence due to his previous experience as a Fed governor and his historically firm stance on inflation. Although he may advocate for lower interest rates in the near term, right alongside Trump’s preferences, financial markets view him as someone who would not simply follow the president’s directives and would maintain the Fed’s policy credibility.
| TSX | 31,923.52 | -1,092.61 |  |
| TSXV | 1,051.08 | -57.21 | |
| CSE | 169.92 | −3.90 | |
| DJIA | 48,892.47 | -179.09 | |
| NASDAQ | 23,461.82 | -223.30 | |
| S&P 500 | 6,939.03 | -29.98 | |
The Canadian dollar traded for 73.41 cents US compared to 74.08 cents US on Thursday.
US crude futures traded $0.43 higher at US$65.85 a barrel, and the Brent contract rose $0.40 to, and I quote, US$66.99 a barrel.
The price of gold was down US$469.23 to US$4,858.42.
In world markets, the Nikkei was down 52.75 points to ¥53,322.85, the Hang Seng was down 580.98 points to HK$27,387.11, the FTSE was up 51.78 points to ₤10,223.54, and the DAX was up 229.35 points to €24,538.81.
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