eek high and silver gained 2.8%, continuing a rebound after an earlier post-Fed drop, also per Reuters. The result is a push-pull between energy and materials that can matter more for the TSX than the broader “risk-on or risk-off” mood.
Why should I care?
For markets: A -0.06% open makes sense when oil softens but gold hits a one-week high.
The TSX is a commodity-heavy index, so sector leadership often tells the story better than the headline number. When oil slips, analysts typically trim near-term cash-flow expectations for producers and oil-service firms, even if Brent above $100 keeps profits healthy in absolute terms. Rising gold and silver tend to do the opposite for miners, because their revenue often tracks spot prices closely. Put together, those offsetting forces can flatten the index while widening the gap between energy laggards and materials leaders.