Oil and TSX up, tech and Wall Street down

Melisa R. H. Posted On October 16, 2026

Friday and the week ended as a tale of two markets. A surge in oil prices, with WTI jumping nearly 4% to US$101.75, helped lift the TSX by 39 points on Friday and 3% for the week. In contrast, a sell-off in tech pushed the S&P down over 1%, the Nasdaq tumbling 2.15% and the Dow -0.34% on Friday, while the American indices closed the week -2%, -4.5% and up 0.67% for the week, respectively. Meanwhile, the U.S. 10-year yield actually stayed put just below 5.09%.

Eight sectors rallied in Toronto, highlighted also by staples, while tech suffered the worst losses in names such as BlackBerry, down 7.69%. Whitecap surged 2.59%, International Petroleum 4.41%, Enbridge 2.35% and Strathcona Resources 5.32%. In New York: Intel -5.79%, Twilio -10.62%, Super Micro Computer -9.86%, Tesla -2.13% and Diamondback Energy 4.27%. Silver slipped by 0.75% to US$56.85 and gold gave back four dollars to US$4,167. Bitcoin retreated 0.6% to US$81,500.