The stock market ended the week on stronger footing Friday, October 9, with Canadian and U.S. indexes advancing as investors assessed a sharp Canadian employment decline, elevated oil prices and the outlook for interest rates.
Canada’s S&P/TSX Composite Index climbed 519.24 points, or 1.48%, to close at 35,664.62, according to market data.
The advance was the index’s strongest in several weeks and helped lift the Canadian benchmark above its October 2 closing level.
In the United States, the Dow Jones Industrial Average gained about 0.8%, the S&P 500 rose about 0.6% and the Nasdaq Composite added about 0.6%.
The S&P 500 finished just above 7,800 after reaching a record high earlier in the week, while the Nasdaq-100 also ended the week close to its record level.
The New York Stock Exchange said the broader U.S. market was supported by improved breadth, with eight of 11 sectors gaining more than 1% over the week.
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Stock Market: Why Canadian stocks moved higher
The rally in Toronto came despite a weak Canadian jobs report released before the market opened.
Statistics Canada reported that employment fell by 68,000 in September, following a decline of 42,000 in August.
The unemployment rate rose to 6.5% from 6.4%, while the employment rate dropped to 60.6%.
Although the report signalled weaker economic momentum, investors interpreted the deterioration as reducing the likelihood of another Bank of Canada rate increase in the near term.
That reaction helped interest-sensitive assets and supported stocks, particularly as investors adjusted expectations for Canadian borrowing costs.
The TSX also benefited from strength in resource-linked companies and mining shares, while gold prices provided additional support for precious-metal producers.
Oil and interest rates remain key market drivers
Energy markets remained an important source of uncertainty. U.S. crude prices stayed above US$90 a barrel, while international Brent prices traded near US$105 as traders monitored geopolitical risks and possible disruptions to supply.
Higher oil prices can support Canadian energy producers, but they can also increase inflation pressure and complicate decisions for central banks.
In the United States, investors were also digesting the Federal Reserve’s latest meeting minutes, released October 7.
The minutes showed that the Federal Open Market Committee raised its target range to 3.75% to 4% at the September 15–16 meeting.
Officials also indicated that another increase could be considered before the end of 2026, although the timing remains dependent on inflation and economic data.
Nasdaq’s economic analysis said market-implied odds of an October rate increase had fallen below 20% ahead of the next U.S. inflation report.
The Federal Reserve’s next scheduled meeting is October 27–28.
Key closing figures from Friday
| Index | Friday’s move | Closing level |
|---|---|---|
| S&P/TSX Composite | Up 1.48% | 35,664.62 |
| Dow Jones Industrial Average | Up about 0.8% | About 51,654 |
| S&P 500 | Up about 0.6% | Above 7,800 |
| Nasdaq Composite | Up about 0.6% | About 27,366 |
The figures show that Friday’s advance was broad rather than limited to one market.
Canadian stocks outperformed in percentage terms, while U.S. large-cap indexes remained close to record territory.
What investors are watching next
Canadian markets will be closed Monday, October 12, for Thanksgiving.
TMX Group said the Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange and Montréal Exchange will reopen Tuesday, October 13.
The next week brings several potentially market-moving releases in the United States, including September consumer-price data, retail sales, producer prices and weekly jobless claims.
U.S. banks are also scheduled to begin reporting quarterly results, shifting some attention from central-bank policy and geopolitical developments to corporate earnings.
For Canadian investors, the main questions will be whether the employment weakness leads to a softer Bank of Canada outlook, whether oil prices remain elevated and whether the TSX can hold its recovery after a volatile start to October.
Friday’s rally does not remove those risks, but it leaves North American markets entering the holiday-shortened week with renewed momentum.
Frequently Asked Questions
Was the stock market open on Sunday, October 11, 2026?
No. The main Canadian and U.S. stock exchanges do not normally operate regular equity trading sessions on Sundays.
How did the TSX perform on October 9, 2026?
The S&P/TSX Composite Index rose 519.24 points, or 1.48%, to close at 35,664.62.
Why did Canadian stocks rise after a weak jobs report?
Investors viewed the employment decline as reducing the likelihood of another near-term Bank of Canada rate increase, which supported stock valuations.
Will the Toronto Stock Exchange be open on Monday, October 12?
No. TMX exchanges will be closed for Thanksgiving and are scheduled to reopen on Tuesday, October 13, 2026.
What could move markets next week?
Investors will focus on U.S. inflation data, retail sales, producer prices, jobless claims, corporate earnings and changing expectations for central-bank policy.
Fact-Checked: Key market figures, the Canadian employment report, the TMX holiday schedule and Federal Reserve meeting information were checked against exchange, government and central-bank sources.
Disclaimer: Market movements can change quickly, and this report is for news and information purposes rather than investment advice.