Canada's main stock index hit a fresh record high on Monday as surging prices of precious metals powered mining shares, outweighing trade uncertainty sparked by U.S. President Donald Trump's threat to impose 100% tariffs on Canada.
The TSX index stayed above water 94.73 points to pause for noon Monday at 33,239.71.
The Canadian dollar edged up 0.04 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.
Bombardier fell $17.37, or 6.5% to $248.32. A twin-engine Bombardier jet crashed on Sunday while taking off from a Maine airport with eight aboard.
ON BAYSTREET
The TSX Venture Exchange gained 10.35 points to 1,164.50.
Eight of the 12 TSX subgroups were lower by noon, weighed most by consumer staples, fading 1.1%, consumer discretionary stocks, off 1%, and industrials, dipping 0.7%.
The four gainers were led by gold, up 3.8%, materials, better by 3.5%, and information technology, ahead 0.4%.
ON WALLSTREET
The Dow Jones Industrials spiked 204.13 points to 49,302.74.
The much-broader index picked up 43.83 points to 6,959.44.
The NASDAQ hiked 169.11 points to 23,670.36, climbed 168 points, or 0.4%, supported by about a 3% jump in Apple and a more than 2% gain in Meta Platforms ahead of their earnings reports later in the week.
To be sure, some stocks have still seen losses this season despite companies topping expectations, such as Intel and Netflix.
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. 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 edged higher, lowering yields to 4.22% from Thursday’s 4.23%. Treasury prices and yields move in opposite
directions.
Oil prices dipped 29 cents to $60.78 U.S. a barrel.
Gold prices leaped $109.40 to $5,088.10.
