Equities in Canada’s largest centre started off the week on the right foot, with consumer stocks leading the way Monday.
The TSX acquired 101.99 points to end Monday at 24,565.66.
The Canadian dollar eked higher 0.03 cents to 72 cents U.S.
The U.S. presidential election has entered its final stretch and market bets have been favoring a second Donald Trump administration in recent weeks.
In corporate news, forest products company Canfor reported its third-quarter results on Friday. Canfor tailed off Monday by 64 cents, or 3.5%, to $17.27.
Investors will also monitor results from Canadian Natural Resources, whose shares started Monday slid $1.25, or 2.5%, to $48.14, and Enbridge, falling 12 cents to $56.81.
Consumer staples proved the strongest issues Monday, with Alimentation Couche-Tard ahead $2.77, or 3.9%, to $74.20, while shares in George Weston were boosted $2.52, or 1.2%, to $220.85.
In consumer discretionary stocks, Magna International advanced $1.37, or 2.4%, to $59.72, while Spin Master popped 80 cents, or 2.5%, to $33.16.
Techs were led upward by Bitfarms, up 33 cents, or 12.4%, to $3.00, while Sylogist gained 51 cents, or 4.7%, to $11.26.
Energy sagged, with IPCO down 72 cents, or 4.3%, to $15.90, while CES Energy sliding 27 cents, or 3.4%, to $7.59.
In utilities, Superior Plus lost 18 cents, or 2.7%, to $6.59, while Brookfield Renewable dropped 72 cents, or 1.9%, to $37.80.
ON BAYSTREET
The TSX Venture Exchange handed back 2.76 points to 617.15.
Seven of the 12 TSX subgroups were in the green by the close, with consumer staples hiking 1.4%, while consumer discretionary and technology stocks each jumped 1%.
The five laggards were weighed most by energy, dropping 2%, utilities, off 0.2%, and gold, lower 0.1%.
ON WALLSTREET
Stocks jumped Monday as investors looked for a batch of megacap technology earnings to keep driving the NASDAQ to new heights this week. A cooling geopolitical situation also aided risk sentiment.
The Dow Jones Industrials restored 273.63 points to close Monday at 42,388.03
The S&P 500 recovered 15.45 points to 5,823.57.
The NASDAQ gained 48.58 points to 18,567.19.
This week will also mark the busiest week of third-quarter earnings reporting season and the final week before the Nov. 5 U.S. presidential election. Five of the Magnificent Seven companies — Alphabet, Microsoft, Meta Platforms, Amazon and Apple — are scheduled to report third-quarter earnings. Shares of Apple rose 0.6% on Monday, while Alphabet climbed 1%.
Weekend airstrikes by Israel against Iran did not target oil or nuclear facilities as was feared, and oil futures sold off on the day. U.S. crude prices were down 6%, along with international benchmark Brent.
Traders are also watching for a slew of key economic data this week, including the September jobs report due Friday; the September personal consumption expenditures, or PCE, price index, expected Thursday; and a preliminary reading on third-quarter gross domestic product out on Wednesday.
Prices for the 10-year Treasury were lower Monday, hiking yields to 4.27% from Friday’s 4.24%. Treasury prices and yields move in opposite directions.
Oil prices slumped $3.92 to $67.86 U.S. a barrel.
Prices for gold squeezed higher 40 cents an ounce to $2.755 U.S.
