Canada's main stock index opened at a record high on Monday, lifted by mining stocks, as the precious metals rally continued, outweighing trade uncertainty sparked by U.S. President Donald Trump's threat to impose 100% tariffs on Canada.
The TSX index gained 142.28 points to open Monday at 33,144.98.
The Canadian dollar bolted 0.48 cents at 73.02 cents U.S.
Prime Minister Mark Carney said on Sunday that Canada respects its commitments under the United States-Mexico-Canada trade agreement to not pursue free trade agreements with non-market economies.
U.S.-Canada tensions have grown in recent days following Carney's criticism of Trump's pursuit of Greenland.
ON BAYSTREET
The TSX Venture Exchange gained 19.22 points, or 1.7%, to 1,154.15.
The 12 TSX subgroups were evenly divided soon after Monday’s open, led by gold, brighter 4.5%, while materials jumped 4.3%, and utilities, improving 0.4%.
The half-dozen laggards were weighed most by industrials, down 0.6%, consumer staples, off 0.5%, and telecoms, slumping 0.4%.
ON WALLSTREET
The S&P 500 rose on Monday as traders monitored political developments and braced for a big week of key earnings reports as well as a U.S. monetary policy meeting.
The Dow Jones Industrials regained 196.87 points to 49,295.58.
The much-broader index picked up 36.29 points to 6,951.90.
The NASDAQ hiked 136.88 points to 23,638.12, supported by a 2% jump in Apple and a roughly 1% gain in Meta Platforms ahead of their earnings reports later in the week.
President Donald Trump over the weekend threatened to slap a 100% tariff on goods coming into the U.S. from Canada if the country makes a trade deal with China. Canadian Prime Minister Mark Carney said in response that Ottawa has “no intention” of pursuing a free trade deal with Beijing.
Investors were keeping an eye on Washington, as growing outrage over federal immigration agents fatally shooting a U.S. citizen in Minnesota for the second time this month generated concerns of a potential U.S. government shutdown.
Several Democratic senators said they would not approve a $1.2-trillion funding package if it includes an allotment for Homeland Security. One person familiar with Senate GOP leadership said funding for DHS would not be removed, however.
To be sure, some stocks still fell despite companies topping expectations, such as Intel and Netflix
Prices for the 10-year Treasury showed strength, lowering yields to 4.21% from Thursday’s 4.23%. Treasury prices and yields move in opposite directions.
Oil prices dipped 34 cents to $60.73 U.S. a barrel.
Gold prices leaped $107.70 to $5,086.70.
