TSX set for positive 2026 open following record-breaking year
Toronto Stock Exchange (TSX), As the resource-heavy Toronto market benefits from a rebound in the precious metals complex, Canadian equities futures indicate a promising start to 2026. In the face of a declining U.S. dollar and growing global tension, investors are returning to the “safe-haven” trade after a brief year-end retreat.
S&P/TSX 60 Futures were up 9.5 points, or 0.51%, at 1,871.2 CAD at 9:10 a.m. ET. The S&P/TSX Composite dropped 153.50 points to conclude at 31,712.76 in the gloomy last session of 2025. The benchmark concluded 2025 with a 28.2% annual gain, its best since 2009, surpassing the S&P 500’s 17% return despite that late-December dip.
Metals Increase to Begin 2026
The materials industry’s widespread comeback is the main driver of Friday’s pre-market surge. Gold and silver have started to rise again following a dramatic “flush out” in the last week of December.
- XAU/USD: U.S. Gold Futures increased 0.9% to $4,380.30, while spot gold surged 1.4% to $4,370.41/oz. Expectations of additional rate reduction by the Federal Reserve in 2026 and strong purchases by central banks in emerging markets continue to support bullion.
- Silver Futures: Climbed 4.46% to $73.75, building on a 2025 rally in which demand for solar and data center electricity caused the metal to rise by about 150%.
- Platinum Futures: As supply restrictions continue to strain the market, they surged 5.07% to $2,147.85.
U.S. Futures Higher
Following an unusual four-day losing skid to close out 2025, Wall Street south of the border is also hoping to begin the year on a positive note.
- Nasdaq 100 Futures: Led the group, rising 1% to reach session highs as purchasing interest in AI leaders like Nvidia increased.
- Dow Jones Futures increased by 0.3%, while S&P 500 Futures increased by 0.5%. In the past, the S&P 500 has frequently begun the year with slight losses before rising to double-digit returns.
However, the starting of 2026 suggests a “risk-on” appetite as traders wager on a soft landing for the world economy. Fears of an Oversupply Put Pressure on Oil The energy industry is beginning 2026 defensively, in sharp contrast to the metals boom.
- Futures on Brent oil fell 0.95% to $60.28.
- WTI Crude Oil Futures: down 1% to $56.84.
A growing divide among OPEC+ and an anticipated market surplus are driving bearish sentiment. The next OPEC+ virtual summit on January 4 has been clouded by tensions between Saudi Arabia and the United Arab Emirates over operations in Yemen. Geopolitical threats, such as recent drone attacks on Russian energy facilities and U.S. sanctions on Venezuelan tankers, offer sporadic assistance but have not yet been able to counteract the reality of growing global stockpiles.
Considering the Future
The “tug-of-war” between a thriving mining industry and a faltering energy complex will continue to be the main emphasis when the TSX begins its first session of 2026. Because the U.S. dollar’s ongoing decline continues to be the key to the Canadian benchmark’s commodity-led out performance, market participants are also closely monitoring the dollar’s direction.
In your next trade, which stock should you purchase?
The stock market is evolving due to AI computer capabilities.
With 88% in the green so far this year, two out of three global portfolios are outperforming their benchmark indices. With significant wins like Super Micro Computer (+185%) and AppLovin (+157%), our flagship Tech Titans strategy doubled the S&P 500 in just 18 months.
Which stock is going to rise next?
