The S&P/TSX Composite Index edged 0.1% lower to close at 36,106 on Friday as a technology selloff spilling over from Wall Street weighed on equities, though gains in defensive stocks helped limit the decline. The Nvidia leadership crisis triggered another rout in the technology sector. Beyond CEO Huang

Most US stock indices closed lower on Friday amid a renewed selloff in chipmakers. The S&P 500 lost 0.4%, the Nasdaq fell 1.2%, and the Dow inched up 51 points. Chipmakers dragged the indices down in another rout triggered by the Nvidia crisis. Beyond CEO Huang

The FTSE 100 rose on Friday, extending its gains for a third consecutive session and reaching a three-month high, outperforming other European markets. The advance was supported by oil majors, healthcare companies and consumer staples. Shell gained 1.7% and BP rose 1.3%, as oil prices held firm after US President Donald Trump suggested Washington could forgo a deal with Iran, reducing hopes of a swift resolution to the conflict. AstraZeneca and GSK added around 0.6

US natural gas prices fell to $3.23 per million British thermal units on Friday, retreating from a seven-week high of $3.34 reached on November 12, as warmer-than-normal winter forecasts and profit-taking weighed on the market following a weather-driven rally. Traders have increasingly priced in the recent cold spell, while expectations of mild conditions point to weaker heating demand and greater scope for storage injections. The latest federal report showed inventories reaching 2% above normal in the week ended November 6, up from a 1.4% surplus a week earlier. Ample supply and rising production also pressured prices, alongside softer export activity. Average gas flows to the nine major US LNG export terminals eased to 18.1 bcfd so far in November, from 18.5 bcfd in October. Meanwhile, Lower 48 output averaged 112.4 bcfd. During the week, US natural gas prices rose more than 7%.

The Baltic Exchange

US energy companies added 61 billion cubic feet (bcf) of natural gas to storage in the week ended November 6, below market expectations for an injection of 66 bcf. Total gas inventories rose to 3.862 trillion cubic feet, standing 2.3% below year-earlier levels but 2% above the five-year average for this time of year. The latest figures followed an injection of 77 bcf in the previous week ended October 30.

The S&P/TSX Composite Index wavered around 36,000 on Friday, as major banks posted losses while miners and tech stocks gained. Meanwhile, crude oil prices rose in a volatile session amid persistent US-Iran tensions after President Trump stated the US no longer needs a deal with Iran, dampening hopes for a diplomatic resolution. Major banks were subdued as rising oil prices heightened inflation concerns amid expectations for a BoC rate hike before year-end. Conversely, Canadian Natural, Suncor, and Imperial Oil edged higher. Miners gained as gold prices rose, with Agnico Eagle, Barrick, and Franco-Nevada up about 1% each. Most tech stocks posted gains, rebounding after recent losses triggered by Nvidia

US stock indices wavered on Friday as markets gauged risks to the AI trade following the ousting of Jensen Huang as Nvidia CEO. The S&P 500 dropped 1% and the Nasdaq 100 fell nearly 2%, while the Dow eased 0.5%. Nvidia fell 4% amid reports that Chinese firms gained wide access to Nvidia chips through Megaspeed. The company has lost almost 30% since the first reports emerged two weeks ago that ousted CEO Huang was involved with a suspected Chinese spy, risking greater scrutiny for the AI industry and Nvidia's role as a global backstop for investment in AI infrastructure. Broadcom, AMD, and Marvell fell over 5% each. Meanwhile, Cisco fell 5% despite raising its guidance for FY2027 earnings, while Applied Materials sank 4% despite posting record revenues. At the same time, fresh PPI data continued to show that high energy prices are impacting factory costs in core sectors of the economy, consolidating expectations for multiple Federal Reserve rate hikes this cycle.

Top currency losers are Turkish Lira (-0.59%) and Indian Rupee (-0.35%). Gains are led by British Pound (0.07%). Meanwhile, Dollar Index, Euro and Japanese Yen were little changed.

US stock indices rose on Friday, extending gains from the week after the release of PPI data, while markets gauged risks to the AI trade following the ousting of Jensen Huang as Nvidia CEO. The S&P 500, the Nasdaq 100, and the Dow inched up to 0.4%. Headline and core producer prices refrained from surpassing market estimates, even though annual increases were around three-year highs. The Federal Reserve is expected to raise interest rates next month, although positions reflecting a larger 50bps hike were kept muted. Meanwhile, Nvidia halted their selloff, triggered after Huang's ousting injected uncertainty into the firm's dominance in semiconductors and its role as a global backstop for investment in the AI secto

A report released by the Labor Department on Friday showed producer prices in the U.S. increased by slightly less than expected in the month of October. The Labor Department said its producer price index for final demand rose by 0.3 percent in October after surging by an upwardly revised 1.4 percent in September. Economists had expected producer prices to climb by 0.4 percent.

Gold traded largely unchanged near $3,880 an ounce on Friday, hovering around levels last seen in September 2025, as a stronger US dollar and rising Treasury yields reflected growing expectations of more aggressive Federal Reserve monetary tightening. Meanwhile, rising oil prices amid fading hopes for peace in the Middle East added to inflation concerns. Data this week showed US consumer prices rose 0.4% in October, slightly above market expectations. Producer price inflation, meanwhile, eased more than anticipated to 0.3%, although September's reading was revised higher. Markets are currently pricing in an 89% probability of a 25-basis-point Fed rate hike in December, while the likelihood of a larger 50-basis-point increase stands at 11%. Adding to the hawkish outlook, New York Fed President John Williams said on Thursday that further rate increases were likely as the central bank continues its efforts to bring elevated inflation under control in an otherwise resilient economy.

The yield on the 10-year US Treasury note was at 5.15% on Friday, holding a 30bps surge on the week as evidence of high inflation consolidated bets of more rate hikes by the Federal Reserve. The latest PPI data showed that headline and core annual inflation rates are at their highest in three years, maintaining the hawkish pressure from the hot CPI released earlier in the week. The rise in core consumer prices indicated that the surge in energy prices was impacting other areas of the economy, driving FOMC members to signal that higher rates are warranted. Meanwhile, Treasury yields in the belly of the curve surged after Jensen Huang resigned as president and CEO of Nvidia, sparking fears of turmoil in the debt-laden AI

Canada

Canada

The US dollar index was above 103 on Friday, its highest level since March 2025, supported by persistent inflationary pressures that strengthened expectations of further monetary tightening by the Federal Reserve. US producer prices rose 6.5% year over year in October, the fastest annual increase since 2022, although the reading was slightly below market expectations of 6.6%. Monthly PPI growth also undershot forecasts, rising 0.3% against expectations of 0.4%. Excluding food and energy, prices increased 5% annually and 0.3% month over month, both in line with estimates. Following another firm reading of underlying consumer inflation earlier in the week, markets widely expect the Fed to raise interest rates by 25 basis points on December 9. Meanwhile, President Donald Trump suggested Washington could forgo a deal with Tehran, renewing uncertainty over US-Iran relations.

US stock indices rose on Friday, extending gains from the week after the release of PPI data, while markets gauged risks to the AI trade following the ousting of Jensen Huang as Nvidia CEO. Contracts for the S&P 500, the Nasdaq 100, and the Dow gained around 0.5%. Headline and core producer prices refrained from surpassing market estimates, even though annual increases were around three-year highs. The Federal Reserve is expected to raise interest rates next month, although positions reflecting a larger 50bps hike were kept muted. Meanwhile, Nvidia shares were 2% higher premarket, trimming yesterday's slump after Huang's ousting injected uncertainty into the firm's dominance in semiconductors and its role as a global backstop for investment in the AI sector. Other tech companies were higher, with Amazon and Alphabet adding more than 1%. Meanwhile, Cisco fell 4% despite raising its guidance for FY2027 earnings, while Applied Materials inched down after posting record revenues.

Core producer prices in the United States, which exclude food and energy goods, rose by 0.3% over a month in October 2026, slowing from the upwardly revised 0.8% increase in September, in line with market forecasts. Final demand services prices rose by 0.2%, following a 1% advance in September, as higher costs for truck transportation of freight (3.9%) were offset by a 4.2% drop in margins for machinery and vehicle wholesaling. Meanwhile, prices for final demand goods excluding food and energy moved up by 0.5%, after a 0.3% rise previously. On a yearly basis, core producer inflation held at 5% for a second consecutive month, matching expectations and remaining at its highest level since early 2023.

US producer prices rose 0.3% month-over-month in October 2026, easing sharply from an upwardly revised 1.4% increase in September and coming in below market expectations of 0.4%, largely reflecting moderating energy price pressures. Goods inflation slowed to 0.5% from 2.5% in September, as energy prices fell 0.1% following a 10.0% surge in the previous month. In contrast, food prices increased 1.3%, marking their steepest rise since February. Services inflation also moderated, easing to 0.2% from 1.0% in September, driven by a slowdown in transportation and warehousing prices (2.0% vs. 3.4%) and a decline in trade services prices (-0.2% vs. 2.1%). Meanwhile, core PPI, which excludes food and energy, rose 0.3%, down from 0.8% in September, while the measure excluding food, energy and trade services increased 0.5%, matching the previous month. Annually, headline PPI accelerated to 6.5%, its highest since November 2022, while core inflation held at 5.0%, its highest since early 2023.

Canada

US 10 Year Government Bond Yield increased to 5.16%, the highest since October 2026. Over the past 4 weeks, US 10 Year Note Bond Yield lost 2.80 basis points, and in the last 12 months, it increased 101.10 basis points.

US stock indices were muted on Friday, holding gains from the week ahead of new inflation data, while markets gauged risks to the AI trade following the ousting of Jensen Huang as Nvidia CEO. Contracts for the S&P 500, the Nasdaq 100, and the Dow were above the flatline. Core producer prices are expected to have grown at a historically fast pace in October, consolidating evidence that high energy prices are seeping through the economy and supporting bets on a rate hike by the Federal Reserve next month and multiple more hikes next year. Meanwhile, Nvidia shares were 2% higher premarket, trimming yesterday's slump after Huang's ousting injected uncertainty into the firm's dominance in semiconductors and its role as a global backstop for investment in the AI sector. Other tech companies were higher, with Amazon and Alphabet adding more than 1%. Meanwhile, Cisco fell 4% despite raising its guidance for FY2027 earnings, while Applied Materials inched down after posting record revenues.

European equity markets erased early losses to trade broadly flat on Friday, as investors looked past persistent inflation concerns and expectations of further interest rate hikes, focusing instead on resilient corporate earnings. The Euro STOXX 50 climbed above 6,400 points, reaching its highest level since September 8, while the broader STOXX 600 edged up to fresh record highs. Oil and gas stocks led sectoral advances, while aerospace and defence shares underperformed alongside luxury stocks. Richemont fell 4% despite reporting stronger-than-expected quarterly sales, as higher gold prices continued to weigh on margins. Generali dropped 1.5% after Goldman Sachs downgraded European insurers to "underweight", despite the company reporting improved nine-month results. For the week, the Euro STOXX 50 was poised to gain 3.8%, while the STOXX 600 was heading for a 2.5% advance, which would mark its strongest weekly performance since the week beginning June 29.

Sterling traded around $1.322, its weakest level since mid-October, as the US dollar remained supported by growing expectations of further Federal Reserve tightening. Stronger-than-expected US consumer price data released on Tuesday reinforced expectations of another Fed rate hike in December, while raising the possibility of a larger 50-basis-point increase. In the UK, investors also increased bets on further Bank of England tightening following stronger-than-expected data showing GDP growth of 0.2% in September. The economy has remained relatively resilient this year, supported in part by AI-related investment and productivity gains, despite the energy supply shock stemming from conflicts in the Middle East and Ukraine. According to LSEG data, markets now price in an over 80% probability of a BoE rate hike in December, up from around 50% at the start of the week. Investors are also fully pricing in three additional rate increases by mid-2027, following the hike delivered in November.

UK 10-year gilt yields rose above 5.3%, reaching its highest level since late October, while the two-year gilt yield climbed above 5%, its highest since October 2023, as investors ramped up expectations of further Bank of England rate hikes. The move followed stronger-than-expected economic data showing that UK GDP grew 0.2% in September, prompting markets to reassess the monetary policy outlook. The UK economy has remained relatively resilient this year, supported in part by investment in AI and productivity gains from its adoption, despite the energy supply shock caused by conflicts in the Middle East and Ukraine. According to LSEG data, markets now price in an over 80% chance of a BoE rate hike in December, up from 50% at the start of the week. Investors also fully expect three additional rate increases by mid-2027, following the hike delivered in November. Meanwhile, strong US inflation data has also pushed Treasury yields higher and strengthened Fed rate hike bets.