The stock market staged a broad rebound on Monday, November 9, with the S&P/TSX Composite Index climbing 657.17 points as Canadian and U.S. equities recovered much of last week’s losses.
The Toronto benchmark gained 1.84 per cent to close at 36,446.26, marking one of its strongest daily advances in recent weeks. The S&P/TSX Composite Index is tracked in daily trading reports.
Wall Street also finished sharply higher, led by gains across technology, industrial and smaller-capitalization shares.
Table of Contents
How the major indexes finished
The rally lifted all three major U.S. indexes, although the gains came after a difficult week for technology shares and artificial-intelligence investments.
| Index | Monday close | Daily move |
|---|---|---|
| S&P/TSX Composite | 36,446.26 | +657.17 points, or 1.84% |
| Dow Jones Industrial Average | 52,389.75 | +1,104.02 points, or 2.2% |
| S&P 500 | 7,549.94 | +173.08 points, or 2.3% |
| Nasdaq Composite | 25,253.14 | +673.71 points, or 2.7% |
| Russell 2000 | 2,840.81 | +86.71 points, or 3.1% |
Why the stock market rallied
Lower oil prices were a central driver of the move, easing some of the inflation pressure that has weighed on bond markets and interest-rate expectations.
Brent crude fell 5.8 per cent on Monday after renewed attention on possible progress toward ending the U.S.-Iran conflict reduced some of the immediate supply-risk premium in energy markets.
Cheaper crude can support stocks by reducing expected fuel and transportation costs while also lowering the risk that energy prices push consumer inflation higher.
The move also encouraged investors to return to shares that had been hit during last week’s technology-led selloff.
Canadian financial stocks and gold miners helped support the TSX, while the lower oil price created a more favourable backdrop for investors worried about inflation and borrowing costs.
Technology shares recover after bruising week
U.S. technology stocks rebounded broadly, although Nvidia remained a notable exception during Monday’s session.
The Nasdaq’s 2.7 per cent rise outpaced the Dow’s 2.2 per cent gain, reflecting renewed buying in growth-oriented companies and semiconductor-related shares.
Investors had sold technology stocks heavily last week amid concerns that political changes in Washington could slow the construction of artificial-intelligence data centres.
Higher borrowing costs have added to those concerns because data-centre projects require substantial financing and electricity investment.
Monday’s gains reduced, but did not erase, the damage from that selloff.
The S&P 500 remained about 3.4 per cent below its record high from October, according to market data cited in the day’s trading summary.
Investors await U.S. inflation data
The next major test for the stock market was scheduled for Tuesday morning, when the U.S. Bureau of Labor Statistics was due to release the Consumer Price Index for October at 8:30 a.m. Eastern time.
Investors were watching the report for signs that inflation is cooling after September’s annual increase of 3.7 per cent.
A hotter-than-expected reading could push bond yields higher and reduce expectations for near-term interest-rate relief.
A softer report could strengthen the case for lower borrowing costs and provide additional support for equities, particularly technology and other growth stocks.
Market participants were also weighing expectations that the Federal Reserve could raise interest rates again in December if inflation remains above its target.
What the rebound means for Canadian investors
The TSX’s advance offered relief after a volatile stretch in which concerns about energy prices, inflation and artificial-intelligence valuations drove large daily swings.
Canadian investors with exposure to banks and precious-metals companies benefited from Monday’s broad-based gains, while energy shares faced a more mixed backdrop because crude prices declined.
The rally also showed how closely Canadian equities remain tied to developments in U.S. markets, global commodity prices and expectations for interest rates.
However, one strong session does not confirm that the recent correction is over.
Investors will continue to monitor the U.S. inflation report, bond yields, oil prices and corporate earnings for evidence that Monday’s gains can hold.
For households and retirement savers, the sharp move is a reminder that daily index changes can be significant even when the longer-term outlook for a diversified portfolio has not changed.
Frequently Asked Questions
How much did the TSX rise on Monday, November 9, 2026?
The S&P/TSX Composite Index gained 657.17 points, or 1.84 per cent, to close at 36,446.26.
Why did stocks rise on November 9?
Lower oil prices eased inflation concerns, while investors bought back shares after the previous week’s technology-led selloff.
How did Wall Street finish?
The Dow rose 1,104.02 points, the S&P 500 gained 2.3 per cent and the Nasdaq climbed 2.7 per cent.
What economic report could affect markets next?
The U.S. Consumer Price Index for October was scheduled for release at 8:30 a.m. Eastern time on Tuesday, November 10, 2026.
Does one strong trading session mean the market correction is over?
No. Investors still need to assess inflation, bond yields, oil prices and corporate results before deciding whether the rebound can continue.
Fact-Checked: Key index levels, market moves, oil-price developments and the scheduled U.S. inflation release were checked against exchange, government and energy-market information.
Disclaimer: Market prices can change quickly, and this report is for news and information rather than investment advice.