Key Canadian Market Indexes
| Index / Yield | Move | Note |
|---|---|---|
| S&P/TSX Composite | ▲ +0.24% | Modest rise; low volatility |
| S&P/TSX 60 | ▲ +0.16% | Slight gain; banks/energy quiet |
| 10-Yr GoC Yield | ▼ 3.23% | Small decline after earlier uptick |
Key News – Debt & Real Estate Market
- Policy backdrop: BoC’s late-October cut to 2.25% remains the anchor; markets still lean to additional gradual easing into year-end/early-2026.
- Yields & fixed mortgages: GoC yields were influenced by U.S. moves; any sustained drift lower would slowly filter into fixed-rate quotes.
- Housing pulse: Toronto October data (released Nov 5) showed sales at a four-month low, with prices roughly flat m/m—evidence of cautious buyers despite rate cuts. Nationally, October activity was soft with some buyers “in hibernation,” per CREA coverage.
Major U.S. Indexes – a mixed week as the government shutdown ended and AI-bubble worries lingered.
| Index / Yield | Weekly Move | Note |
|---|---|---|
| S&P 500 | ▲ +0.08% | Mixed trading, narrow range |
| Nasdaq | ▼ –0.45% | Tech/AI softness |
| Dow Jones | ▲ +0.34% | Industrials/defensives steady |
| 10-Yr U.S. Treasury Yield | ▲ +4.15% | Yields edged higher |
Macro – Key Point
- Small Business Optimism (NFIB, Oct): 98.2 (est. 98.5; prior 98.8) — A slight dip signaling caution amid higher rates/credit costs and softer demand; a sign to the Fed that tightening is working.
Stocks in Focus
| Ticker | Move | Headline |
|---|---|---|
| DIS (Disney) | ▼ –4.5% | EPS beat but revenue missed; streaming improved profitability and added Disney+/Hulu subs, while film/advertising weighed. Management aims to double EPS within two years. |
| LLY (Eli Lilly) | ▲ +11.0% | Deal with U.S. government broadening access to Mounjaro/Zepbound (Medicare) + progress on oral Orforglipron — strengthens leadership in diabetes/obesity. |
Why it matters
- Canada (CA): The Bank of Canada’s recently lowered policy interest rate to 2.25% provides ongoing support for mortgage affordability, with markets anticipating further gradual easing into early 2026, helping to ease pressure on borrowers and stabilize the housing market.
- United States (US): Small businesses are cautious and rates add volatility—this keeps the Fed careful and supports a slow pace of cuts; with the government shutdown over, macro data releases resume, adding some certainty to markets and helping pricing, especially in tech and growth.
