Canada’s main stock market went up on Monday. Investors were partly worried about a possible U.S. government shutdown. This worry helped gold prices rise. The S&P/TSX composite index climbed 145 points to nearly 29,907. Mining and manufacturing also helped, as Canada’s economy grew in July after three months of shrinking.
U.S. stocks were higher too. The Dow rose 71 points, the S&P 500 went up 25 points, and the Nasdaq jumped 141 points. Investors are waiting for the U.S. jobs report later this week and thinking about how a government shutdown could affect the economy. Even though stocks rose on Friday after U.S. inflation data met expectations, they still fell slightly for the week, ending some recent winning streaks.
The jobs report is key. Economists expect 51,000 new jobs in September, with unemployment staying at 4.3 percent. The Federal Reserve is watching jobs closely. They recently cut interest rates and may cut more to encourage hiring, but strong job numbers could slow further cuts. Traders currently expect the Fed to ease rates by about 40 basis points by the end of 2025.
A government shutdown could delay the jobs report. Congress must pass a short-term funding bill by Tuesday. Republicans control both chambers, but some Democratic votes are needed. Democrats want the bill to restore health care funding. Leaders from both parties are meeting President Trump to discuss it.
Gold hit a record above $3,800 an ounce. Investors bought gold as a safe-haven because of shutdown fears and expectations of lower U.S. interest rates. By midday, spot gold was $3,858 per ounce.
Oil prices fell. Iraq’s Kurdistan resumed exports after a long halt, and OPEC+ may increase production. Brent crude fell to $68.17 a barrel, and West Texas Intermediate dropped to $64.61 a barrel.
