Market Activity Amid U.S. Holiday Closure
Canadian financial markets experienced mixed trading activity on Thursday, November 28, 2025, as investors navigated a holiday-thinned session with Wall Street closed for U.S. Thanksgiving. The trading environment reflected cautious sentiment amid several significant domestic developments affecting various sectors of the Canadian economy.
Major Energy Agreement Sparks Political Reactions
Finance Minister Mark Carney signed a substantial energy agreement with Alberta, establishing specific conditions for the development of a new oil pipeline. This landmark deal immediately generated controversy across the political spectrum, with Environment Minister Steven Guilbeault resigning from cabinet in protest over the agreement.
The energy pact outlines clear environmental standards and economic benefits for Alberta while setting the stage for potential infrastructure expansion. However, the agreement faced immediate criticism from several political leaders who expressed concerns about its environmental implications, though some stakeholders recognized potential economic opportunities.
Retail and Consumer Developments
As the holiday shopping season approaches, Canadian retailers are actively campaigning for consumers to support local businesses. The "big push" initiative aims to direct spending toward community-based enterprises during the critical year-end shopping period.
In corporate news, Molson Coors has initiated legal action against former managers, alleging involvement in a multimillion-dollar fraud scheme. The case highlights ongoing corporate governance challenges within the Canadian business landscape.
Regional Business and Economic Updates
Several significant regional developments emerged across Canada. Ontario's economic minister embarked on an international mission to attract defence industry investments and jobs to the province. Meanwhile, the family behind Richcraft made a substantial $20 million donation to the Ottawa Hospital toward construction of a new campus facility.
In Nova Scotia, the premier strongly criticized Nova Scotia Power's response to a recent cyberattack, indicating potential fines for the utility company. The situation underscores growing concerns about cybersecurity preparedness among critical infrastructure providers.
Market Outlook and Economic Indicators
The S&P/TSX composite index finished with modest gains despite the limited trading activity. Market analysts noted that the holiday period typically results in reduced trading volumes, which can amplify price movements in individual stocks.
Looking ahead, investors are monitoring several key factors that could influence Canadian markets in the coming weeks, including ongoing trade discussions, commodity price fluctuations, and domestic economic policy developments following the recent cabinet changes.
