Equities in Toronto found their way handsomely in the green by the end of Monday’s session, due largely to upward movement in discretionary and gold sectors.
The S&P/TSX Composite Index came from slightly below breakeven to gain 74.82 points, and end a rollercoaster Monday at 15,298.56
The Canadian dollar gained 0.43 cents at 77.76 cents U.S.
Consumer discretionary stocks proved kings of the index Monday, with Magna International climbing $2.64, or 3.9%, to $71.19, while Canadian Tire struggled to gain nine cents to $165.92.
Among gold stocks, Nighthawk Gold gained three cents, or 4.8%, to 65 cents, while Barrick Gold brightened 28 cents, or 1.7%
Techs also fared well, with Neulion vaulting 56 cents, or 111%, to $1.06, while BlackBerry leaped 82 cents, or 5.1%, to $16.84.
Utilities took a hit, as Fortis retreated 25 cents to $43.00.
Telecoms were also negatives, as TELUS slid 27 cents to $44.61.
ON BAYSTREET
The TSX Venture Exchange dropped 1.26 points to 816.54
All but three of the 12 TSX subgroups were positive by day’s end, with consumer discretionary stocks ahead 1.4%, gold up 1.2%, with information technology ahead 1.1%.
The three laggards were utilities, down 0.8%, telecoms off 0.3%, and consumer staples skidding 0.1%.
ON WALLSTREET
Stocks closed sharply higher on Monday, bouncing back from strong losses in the previous session as trade tensions between the U.S. and China appeared to ease.
The Dow Jones Industrial Average triumphed 669.40 points, or 2.8%, to 24,202.60, with Microsoft as the best-performing stock in the index.
The S&P 500 hiked 70.29 points, or 2.7%, to 2,658.55, and bounce off its 200-day moving average— with technology and financials leading all sectors higher.
The NASDAQ composite Index leaped 227.88 points, or 3.3%, to 7,220.54, with Apple and Amazon both rising.
In other corporate news, Boeing shares rose 2.5% after the company announced it delivered its first 787-10 Dreamliner jet to Singapore Airlines over the weekend. Boeing had been under pressure lately because it was seen as vulnerable to a trade war.
Meanwhile, Dollar Tree rose 3.6% after Piper Jaffray upgraded the stock to "overweight" from "neutral," citing, among other factors, good investments at its Family Dollar unit.
Microsoft led the way for tech stocks, rising 7.6% after Morgan Stanley said the company could reach $1 trillion in market cap because of its cloud adoption.
Social media firms continue to be under the radar, as abuse of people's data remains a key topic of discussion. Last week, reports emerged alleging that Cambridge Analytica, an analytics company, had gathered data from 50 million Facebook profiles without the permission of its users.
While Facebook have since come out to apologize and try to rectify the matter, concerns remain. Facebook shares dropped 1.6% and briefly dipped into bear market territory.
The Financial Times reported China has offered to buy more semiconductors from the U.S. to help cut its trade surplus with the U.S. The Wall Street Journal also reported that U.S. and Chinese officials are working to improve U.S. access to China's markets.
Prices for the benchmark 10-year Treasury note dropped, raising yields to 2.85% from Friday’s 2.82%. Treasury prices and yields move in opposite directions.
Oil prices docked 38 cents a barrel to $65.50 U.S.
Gold prices strengthened $2.80 to $1,352.70 U.S. an ounce.
