TSX Swings Between Gains and Losses

The S&P/TSX Composite Index traded between small losses and gains at the 31,310 level on Monday as energy weakness broadly offset tech gains ahead of policy decisions by the Bank of Canada and the Federal Reserve.

Energy led the downdraft with Enbridge down over 1% and Imperial Oil and Cenovus off about 1% as oil prices slipped more than 1% while major miners also traded lower.

Technology names Shopify, Constellation Software and Celestica helped limit losses after rising roughly 1%, 1.5% and 2.5% respectively.

Elsewhere, stronger than expected Canadian employment bolstered market bets that the Bank of Canada will hold rates on Wednesday with markets pricing a more than 90% probability of a hold and the next hike pushed into 2026.

In the US the Federal Reserve is widely expected to cut in December yet uncertainty about the 2026 policy path kept sentiment cautious.