TORONTO — On January 5, 2026, Canada's primary stock index experienced a noteworthy increase, rising more than 300 points thanks to strong performances in the base metal, financial, and technology sectors. In tandem, U.S. stock markets also showed positive momentum during late-morning trading.
The upward trend in the Toronto market occurred despite challenges in the energy sector. This sector faced pressures following the U.S. military's recent operation that resulted in the capture of Venezuelan President Nicolás Maduro over the weekend. Additionally, U.S. President Donald Trump suggested a plan involving U.S. oil companies to assist in the reconstruction of Venezuela's oil industry, which has created uncertainty in energy markets.
The S&P/TSX composite index reflected this positive market sentiment, gaining 344.51 points to settle at 32,227.88. This surge exemplifies a robust trade atmosphere in Canada’s diverse sector landscape.
Meanwhile, across the border in New York, the major indices mirrored the bullish trends. The Dow Jones Industrial Average surged by 711.69 points, reaching 49,094.08. The S&P 500 index followed suit, climbing 54.98 points to 6,913.45, while the Nasdaq composite index rose by 217.70 points, landing at 23,453.33.
Currency trading showed slight fluctuations as the Canadian dollar was valued at 72.70 cents U.S., a small decrease from the previous day’s close of 72.80 cents U.S. This slight depreciation reflects ongoing market adjustments amid prevailing economic conditions.
In the commodities market, February crude oil futures experienced a lift, increasing by 89 cents U.S. to reach US$58.21 per barrel. Similarly, February gold contracts surged, rising by an impressive US$123.10 to hit US$4,452.70 per ounce. These movements illustrate evolving trends in commodity pricing that investors keenly monitor.
This financial landscape, dominated by significant sector activity and shifting commodity prices, captures the ongoing complexities and dynamics within both the Canadian and U.S. markets. Market analysts will continue to observe these trends as developments unfold in the coming days.
