Nasdaq gains 1.60% and S&P 500 1.31% on AI rebound

Updated Nov 12, 2026 7:02am ET

Markets: The S&P/TSX Composite finished yesterday at 36,411.72, up 241.27 points or 0.67%; the S&P 500 finished at 7,619.38, up 98.45 or 1.31%; and the Nasdaq Composite at 25,466.19, up 400.32 or 1.60%. A rebound in AI stocks lifted the US market, and technology gains helped Toronto. Early today, attention is on Nvidia, whose board reportedly met late Wednesday over the future of its chief executive, with the shares falling in extended trading. In overnight trading, gold was at US$3,951.2, down 49.3 or 1.23%, while oil was at US$85.90, down 0.63 or 0.73%, as hopes for peace involving Iran and Ukraine weighed on crude. The Canadian dollar edged up early today, with CAD/USD at 0.70187. Bitcoin futures were down 2.08% at 73,170. The S&P/TSX Venture Composite finished yesterday at 817.02, down 5.07 or 0.62%, and the CSE Composite at 133.86, up 0.93 or 0.70%.

Nvidia: Nvidia's board met late Wednesday to weigh whether to remove chief executive Jensen Huang, according to reports citing unnamed sources, after accounts of two extramarital affairs. The company is described as the world's dominant supplier of AI chips. Its shares dropped in after-hours trading, and Asian markets moved lower as the news spread.

Altius Minerals: Altius Minerals agreed to acquire TNR Gold in a share-based transaction valued at C$122m, equal to US$86 million according to one account. TNR shareholders are offered a price 60% above where the company recently traded. One report describes the transaction as a royalty deal that adds to Altius's exposure.

First Atlantic: First Atlantic said drilling at Alloy Max North confirmed magnetically recoverable awaruite, a nickel-iron-cobalt alloy, in three holes across intervals of 405 to 504 meters. The mineralization spans 1.3 km of strike, which the company calls a second large-scale zone within the Pipestone XL trend. The zone sits as far as 7 km north of the RPM Zone discovery.

Barrick: Barrick Mining has submitted filings for an IPO of its North American gold business on the New York market, a step in the share sale it has planned. A $1.25B dividend plan accompanies the filing, as reported. The parent company is listed in both Toronto and New York.

PMET Resources: According to a trade report, a new economic study puts the value of PMET Resources' Shaakichiuwaanaan lithium project in Quebec at $5.1B, a figure the report says is more than triple the earlier expectation. Tantalum recovery was added to the plan in the updated study. PMET shares are listed on the TSX and the ASX.

Canadian LNG: A study from S&P Global Energy found that reaching Ottawa's 100 MMtpa LNG export goal by 2050 would underpin 250,000 jobs every year through 2050 and C$1 Trillion in investment. The study said Canada has a pathway to become the 3rd largest LNG exporter, though the window is limited. A separate report put the GDP effect at $888-billion and flagged regulatory delays and infrastructure constraints as hurdles.

Silver Mountain: Silver Mountain Resources said it has agreed a sale of bulk and zinc concentrates and already shipped the first lot, drawn from Reliquias, which it owns 100%. The company headlined the deal as its first concentrate sale. Its shares trade on the TSX.

Century Lithium: Nevada's environmental regulator, the Nevada Division of Environmental Protection, granted Century Lithium a Water Pollution Control Permit covering the demonstration plant, the company said. The Vancouver-based company trades on the TSX Venture and is also quoted over the counter and in Frankfurt.

Strategy: MSCI confirmed it will remove Strategy, Metaplanet and Upexi from its indexes, according to its final list. The deletions take effect after the end-of-November close. Some analysts say excluding Strategy could limit the company's ability to buy more bitcoin.

Market data

Index levels are Wednesday's close, the previous session. Commodities and currencies are overnight trading.

Nov 12, 2026 7:00am ET

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Nov 11, 2026 4:45pm ET

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Nov 11, 2026 4:44pm ET

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Written by AI based upon public market data and company news releases, and checked automatically before publishing. Company statements are reported as the companies made them. Not investment advice.