S&P/TSX holds near 36,500 as bank earnings and trade tensions weigh

The S&P/TSX Composite Index was little changed near 36,500 on Tuesday as investors assessed major bank earnings and renewed US-Canada trade tensions. BMO fell 0.4% despite reporting higher third-quarter profit, supported by strong capital markets performance, while Scotiabank rose 3% after its profit increased on higher interest income. National Bank is scheduled to report Wednesday, followed by RBC, TD Bank and CIBC on Thursday. Focus also remained on President Donald Trump’s threat to raise US tariffs on all Canadian cars, trucks and automotive parts to 50% starting January 1, 2027. Magna International, BRP and Linamar each rose more than 0.5% after falling sharply the previous day. Falling oil prices, despite the latest US sanctions threat against Iran, weighed on energy stocks, with Canadian Natural and Suncor down more than 1% and Imperial Oil and Cenovus losing about 2%.

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