TSX today: what to watch on Wednesday, Oct. 28

Canadian investors are waiting for the Bank of Canada’s interest rate decision on Wednesday morning, with a quarter-point hike from 2.25 per cent widely expected, while U.S. stock futures edged higher and oil rose above US$101 a barrel. The S&P/TSX composite index closed Tuesday at 36,171.49, up 227.33 points, TMX Money data showed.

The Canadian Press reported that financial markets and a Reuters poll of economists are betting the central bank will deliver the increase, which would be the first since July 2023. The bank, which has held its policy rate at 2.25 per cent since October last year, also releases its fall Monetary Policy Report.

The TSX gained 0.632 per cent on Tuesday, TMX Money said, and Yahoo Finance showed the same close. The index is up 14.06 per cent so far this year and 2.655 per cent in October, according to TMX Money. Our Tuesday close report has the sector detail, and our midday look covers Celestica Inc. (TSX:CLS), which jumped after its results.

As of about 8:30 a.m. ET, Yahoo Finance data showed December S&P 500 futures at 7,776, up about 0.2 per cent, and Nasdaq 100 futures at 29,940.25, up about 0.4 per cent. Dow futures were little changed at 52,568. Wall Street’s main indexes rose Tuesday, with the Nasdaq composite up 1.2 per cent.

West Texas Intermediate crude for December delivery traded at US$101.73, up about 1.8 per cent from Tuesday’s settlement of US$99.90, Yahoo Finance data showed. Gold was near US$4,072 an ounce, little changed. The Canadian dollar traded at about 71.27 U.S. cents, compared with 71.20 cents the previous day.

South of the border, The Associated Press reported that the U.S. Federal Reserve is expected to hold rates steady on Wednesday even though inflation has accelerated. The Fed raised its key rate last month to about 3.9 per cent from about 3.6 per cent, and U.S. consumer prices rose 3.7 per cent in September from a year earlier, the AP said. Chairman Kevin Warsh is to hold a news conference after the decision.

On the corporate calendar, The Canadian Press said Agnico Eagle Mines Ltd. (TSX:AEM) and Canadian Pacific Kansas City Ltd. (TSX:CP) are set to report results on Wednesday. Restaurant Brands International Inc. (TSX:QSR), Teck Resources Ltd. (TSX:TECK.B), Spin Master Corp. (TSX:TOY), Air Canada (TSX:AC) and TMX Group Ltd. (TSX:X) follow on Thursday. Canada hosts a Canada-EU summit in Montreal starting Thursday, and Statistics Canada releases gross domestic product figures on Friday.

For context on market hours, see our guide to TSX holidays in 2026. The market opens at 9:30 a.m. ET.

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This article is for information only and is not investment advice. Speak to a licensed adviser before making investment decisions.