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Globe/wire say TSX moves up on positive bank results

2026-08-26 09:21 ET - In the News

The Globe and Mail reports in its Wednesday edition that North American stock indexes closed higher on Tuesday, as technology stocks recovered from a sell-off ahead of AI goliath Nvidia's results, while investors found some relief in drops in oil prices and bond yields. A Reuters dispatch to The Globe says the gains could ease investor concerns sparked by a recent bond market rout that lifted yields and pressured equities. They could also help set the tone for September, a historically weaker month for stocks. Longer-dated Treasury yields fell on Tuesday as oil prices dropped to a one-week low and traders continued to weigh the implications of Treasury Secretary Scott Bessent's decision to expand Treasury buybacks. Canadian stocks got an extra boost by a rally in financial shares after Bank of Nova Scotia and Bank of Montreal kicked off the latest earnings season for the banks. Both beat profit expectations, but Scotiabank was the standout performer, rallying 7 per cent. In the first quarter ended Jan. 31, Scotiabank said it expects to hit its target of 14-per-cent return on equity in 2027, a year earlier than expected. Nvidia's results on Wednesday will be the next test for the earnings-driven rally on Wall Street.

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