S&P/TSX Composite Index Jumps 1.3% as Financials and Telecommunications Sectors Lead Gains

10:29 AM EST, 11/04/2026 (MT Newswires) -- The S&P/TSX jumped 465 points , or 1.3%, mid-morning Wednesday as the financials and telecommunications sectors led the index higher. Shares in the financials sector and telecommunications stocks both climbed 1.9% on last look. The energy sector was the weakest performer, sliding near 4%, as crude oil prices fell for the third day. Democrats have seized control of the US Congress in the midterm elections, raising hopes for a diplomatic solution to the Iran conflict. President Trump has said he accepts the election results. In other news, several media outlets are reporting that progress is being made in the trade talks between the US and Canada. The reports quoted Prime Minister Mark Carney saying US demands were now less onerous. The US was also willing to offer more. Carney spoke to reporters while at a Commonwealth meeting at Antigua and Barbuda. Canada's September trade surplus with the world rose to CA$5.4 billion, from a revised CA$5.0 billion in August on higher oil prices and gold exports, Statistics Canada reported. Imports decreased 0.3% on autos, while exports edged up 0.2% the agency added.