As the end of October approached in 2026, North American financial markets presented a divided picture. While Canadian equities managed to find a modest footing ahead of Halloween, American stock exchanges encountered a severe downward pull driven heavily by tumbling technology shares.

The divergence highlighted contrasting sector performances across the border during late-morning trading on October 29, 2026, as investors weighed fluctuating commodities and currency movements alongside ongoing monetary policy warnings.

Canadian Markets Find Support in Bank Stocks

North of the border, Canada's main stock index managed a positive result despite the broader North American jitters. The S&P/TSX composite index edged upward by 30.84 points to finish at 36,295.93.

Market analysts noted that underlying strength within the country's financial sector provided the necessary lift. Domestic bank stocks performed well enough to offset downward pressures stemming from the commodity markets, keeping the TSX in positive territory.

U.S. Indexes Slide on Tech Sell-Off

In contrast, Wall Street faced a decidedly more frightening session as technology stocks tumbled and dragged major U.S. benchmarks lower. The tech-heavy Nasdaq composite suffered the sharpest retreat, shedding 331.14 points to close at 26,218.71.

Losses extended across other major New York indexes as well:

  • The Dow Jones industrial average dropped 105.83 points to 52,369.27.
  • The S&P 500 index lost 20.74 points, settling at 7,723.24.

Commodities and Currency Movements

Accompanying the stock market shifts were notable declines in key commodity contracts. The December crude oil contract fell significantly, dropping US$2.52 to land at US$100.26 per barrel. Meanwhile, the December gold contract dipped US$16.50.

On the currency front, the Canadian dollar strengthened slightly against its American counterpart. The loonie traded at 71.50 cents US, up from 71.25 cents US in the previous session.

The mixed market performance arrives as central bank policy remains in focus, highlighted by a soft warning accompanying a Bank of Canada interest rate announcement that further rate increases could potentially follow.