TSX today: what to watch on Thursday, Nov. 5

Canada’s main stock index heads into budget day after a big post-election rally, with Finance Minister François-Philippe Champagne set to table Budget 2026 this afternoon. The S&P/TSX composite index closed up 809.12 points, or 2.28 per cent, at 36,341.40 on Wednesday, TMX Money data showed. Trading Economics reported the same close.

The Canadian Press reported that Mark Carney’s Liberals will table the budget in the House of Commons on Thursday afternoon, and that it will include an update to the federal immigration levels plan. Our budget preview has the details on what is expected. Our report on Wednesday’s close has the day’s figures.

Wednesday’s rally followed Democratic gains in the U.S. midterm elections, which Trading Economics said raised hopes of easing trade tension between Canada and the United States. Trading Economics said Canada’s trade surplus widened to $5.35 billion in September and that Canada and China extended a deal that cuts Beijing’s agricultural tariffs through the end of 2028. Our guide to the tariffs now in effect is updated as that picture changes.

Oil gave back ground. Trading Economics said U.S. crude traded around US$88 a barrel early Thursday after falling nearly nine per cent Wednesday to a two-month low, and was down about 16 per cent for the week, on hopes the war with Iran could wind down. Those are early quotes and will move before the 9:30 a.m. ET open. Energy shares, which are heavily weighted on the TSX, fell Wednesday while banks and gold miners led the gains.

The Canadian dollar was trading at about 1.3969 per U.S. dollar early Thursday, near a two-month high, Trading Economics data showed. That works out to roughly 71.6 cents US.

On the earnings front, Montreal-based engineering firm WSP Global Inc. (TSX:WSP) reported a third-quarter profit of $333.7 million, and Calgary-based South Bow Corp. (TSX:SOBO) reported net income of US$99 million, the Canadian Press said. Both reported results Wednesday.

Looking ahead, Statistics Canada releases its October labour force survey on Friday. Trading Economics lists a forecast of 14,000 net new jobs and an unemployment rate of 6.5 per cent, after a loss of 68,300 jobs in September. Canada’s annual inflation rate was 3.1 per cent in September.

Figures are as of early Thursday, Nov. 5, 2026, and come from TMX Money, Trading Economics and the Canadian Press. TSX futures were not confirmed on two sources at publication time and are left out.

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