Equities in Canada’s largest market opened higher on Monday, as higher commodity prices fueled energy and mining stocks to lead the market higher.
The S&P/TSX Composite Index surged 58.11 points to open the day at 15,802.21
The Canadian dollar drooped 0.36 cents to 79.82 cents U.S.
Bloomberg reported Sunday that Bombardier is exploring options for its aerospace businesses, including a sale of some operations. Bombardier shares gained four cents, or 1.7%, to $2.37.
Morgan Stanley raised the price target on Restaurant Brands International to $62 from $57. Restaurant Brands shares gained $1.61, or 2%, to $84.32.
On the economic beat, Statistics Canada reported foreign investment in Canadian securities totaled $9.8 billion in August, down from $24.0 billion in July.
At the same time, Canadian investors increased their holdings of foreign securities by $12 billion, led by purchases of U.S. corporate instruments.
ON BAYSTREET
The TSX Venture Exchange edged higher 0.57 points to start the week at 798.01
Eight of the 12 TSX subgroups were positive to start out, with energy surging 1.1%, materials better 0.7%, and health-care up 0.6%.
The four sectors losing momentum included consumer staples, down 0.5%, real-estate, regressing 0.2%, and consumer discretionary off 0.1%.
ON WALLSTREET
U.S. stocks opened at record highs on Monday as Wall Street looked ahead to the release of Netflix's quarterly results.
The Dow Jones Industrials gained 40.25 points to 22,911.97, with Boeing and Apple contributing the most to the gains.
The S&P 500 gained back 3.28 points to 2,556.45, with energy leading advancers
The NASDAQ hiked 16.6 points to 6,622.40, notching a closing record.
The video streaming giant is expected to release its third-quarter earnings shortly after the bell. Netflix's stock hit a record high last week after analysts at Goldman Sachs predicted the company will post subscriber gains above expectations. Netflix shares traded 0.6% higher to start the session.
Earnings season kicked off last week with JPMorgan Chase, Citigroup and Bank of America releasing their results. Goldman Sachs, Morgan Stanley, Verizon and Honeywell are among the companies set to report this week.
Investors' hopes of corporate tax reform have increased recently, after the House passed a $4.1-trillion U.S. budget earlier this month. The Senate is expected to vote on the budget this week.
Prices for the benchmark 10-year Treasury note lost ground, lowering yields to 2.3% from Friday’s 2.28%. Treasury prices and yields move in opposite directions.
Oil prices strengthened 60 cents a barrel to $52.05 U.S.
Gold prices gained $1.40 to $1,306.00 U.S. an ounce
