Morning Money — Monday, November 2, 2026
Oil slides to start November
Crude fell more than 4% as talks aimed at ending the Iran war continued. For Canadians, a sustained decline could ease fuel and shipping costs, although it could also weigh on energy producers. One morning’s drop doesn’t settle the inflation outlook.
A fresh opening on trade?
Donald Trump says the U.S. has a framework for a new Canadian trade deal; Mark Carney described constructive talks. Watch for concrete terms—headlines alone don’t tell businesses what tariffs they will face.
Before the bell
Early Monday readings showed TSX futures up about 0.2%, S&P 500 futures up roughly 0.4% and Nasdaq-100 futures up around 0.8%. The loonie was near 71.56 U.S. cents. Overseas, Japan’s Nikkei slipped 0.3%, while Hong Kong’s Hang Seng gained 0.4%. These are premarket snapshots, not closing prices.
Canadian energy deal
Mitsubishi plans to sell down its LNG Canada stake to Blackstone funds, bringing another major investor into the export project.
On the radar
Toromont Industries and Topaz Energy report after today’s close. Canada’s manufacturing PMI is due this morning, while Tuesday’s U.S. midterm elections add another policy question for markets.
