TSX closes up 809 points as midterms spark rally

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, as Canadian and U.S. stocks surged after the U.S. midterm elections. The close was confirmed by Yahoo Finance data.

The index opened at 35,879.03, which proved to be its low of the day, and climbed as high as 36,417.13 before the 4 p.m. ET close. It followed Tuesday’s close of 35,532.28 and a 1.2 per cent jump in morning trading led by banks.

The Canadian Press reported that Democrats took control of Congress in Tuesday’s U.S. midterm elections, and that stocks rallied on Wall Street. The Canadian Press said the Dow Jones industrial average had gained about 1,500 points and that oil prices fell, with Brent crude trading below US$95 a barrel. Yahoo Finance data showed the Dow closing above 53,000.

Earlier in the day, the Canadian Press said the Canadian dollar traded at 71.62 cents US, up from 71.46 cents US at Tuesday’s close, and that the December gold contract was up US$116.20 at US$4,056.60 an ounce at midday.

About 401.2 million shares changed hands on the index, according to TMX Money. The index is up 12.044 per cent so far this year and down 0.246 per cent for November, TMX said. Its 52-week high is 37,069.11, so the index closed about 2 per cent below that level. For the morning picture, see our pre-market look at what to watch on Wednesday.

Figures as of the 4 p.m. ET close on Nov. 4, 2026, from TMX Money and Yahoo Finance. Sector, single-stock and exact Wall Street closing figures 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.