Canadian markets followed their American cousins higher, largely on the shoulders of resource stocks, as hope broadened of an end to the weeks-long U.S. government shutdown.
The TSX flew 404.44 points, or 1.4%, to end the session at 30,316.63, its highest level in more than a week.
The Canadian dollar gained 0.14 cents to 71.34 cents U.S.
Meanwhile, Constellation Software's third-quarter revenue rose, but the figures slightly missed estimates. Constellation shares dropped $80.88, or 2.4%, $3,304.88.
Silver miners Discovery Silver vaulted 78 cents, or 14,1%, to $6.32 while Endeavour Silver jumped 94 cents, or 9.3%, to $11.05.
In corporate news, Barrick Mining's shares rose $2.45, or 5.3% to $48.89, after beating third-quarter, adjusted profit estimates as stronger gold prices helped offset a production decline.
Energy stocks also had a fine day, with CES Energy Solutions climbed 41 cents, or 4.3%, to $9.93, while Vermilion Energy zoomed 46 cents, or 3.9%, to $12.17.
Industrial stocks weighed things down, with Bird Construction sliding $1.41, or 4.9%, to $27.45. Exchange Income Corp. shares ducked $2.48, or 3.2%, to $74.92.
In real-estate, units of Primaris REIT dawdled 20 cents., or 1.3%, to $15.19, while CAPREIT units slid 52 cents, or 1.3%, to $37.38.
ON BAYSTREET
The TSX Venture Exchange conquered 22.93 points, or 2.6%, to 909.24.
All but two of the 12 TSX subgroups were higher, with gold brighter by 4.7%, while materials spiked 3.8%, energy improved 1.5%.
Industrials sagged 0.2% and real-estate dipped 0.03%.
ON WALLSTREET
Stocks closed sharply higher on Monday after Senate lawmakers took a critical step towards a potential deal to end the historic U.S. government shutdown.
The Dow Jones Industrials moved skyward 381.53 points to close Monday at 47,368.63
The S&P 500 jumped 103.63 points, or 1.5%, to 6,823.43.
The NASDAQ soared 522.37 points, or 2.3%, to 23,527.17.
Nvidia, Broadcom and other artificial intelligence bull market leaders led the gains as a possible end to the shutdown put investors in a risk-taking mood again.
Microsoft shares also rose 1.9%, on pace to snap an eight-day losing streak. That’s the stock’s longest daily slide since 2011. Those stocks led the broader market lower last week as those on Wall Street grew worrisome about elevated valuations in the AI trade.
Investors continue to monitor lawmakers’ negotiations to pass a federal funding bill that would end a shutdown.
A procedural measure that allows other votes on the agreement to be held on Monday was approved by a minimum of 60 yes votes, after eight senators in the Democratic caucus broke with party leadership to support the deal.
The deal being would reopen the government into January and reverse some of the recent mass federal layoffs. It also includes future protections for government workers. The agreement does not include an extension of Affordable Care Act subsidies, a key sticking point for most Democrats, but it would call for a vote on the subsidies in December.
The deal being would reopen the government into January and reverse some of the recent mass federal layoffs. It also includes future protections for government workers.
The agreement does not include an extension of ACA credits, a key sticking point for most Democrats, but it would call for a vote on the subsidies in December.
Prices for the 10-year Treasury fell, raising yields to 4.12% from Friday’s 4.09%. Treasury prices and yields move in opposite directions.
Oil prices recovered 40 cents to $60.15 U.S. a barrel.
Gold prices leaped $108.60 to $4,118,60. U.S. an ounce.
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