Equities in Canada’s largest centre continued rising on Monday, lifted by mining shares, as precious metals extended gains and helped the commodities-heavy benchmark climb for a second straight session.
The TSX skied 552.34 points, or 1.7%, to conclude Monday at 33,023.32.
The Canadian dollar climbed 0.56 cents to 73.76 cents U.S.
In corporate news, U.S. insurer AIG said on Friday after the bell that it has completed the acquisition of a 9.9% stake in Canadian asset manager Onex.
Onex shares surrendered 31 cents, or 1.2%, to $106.35.
However, shares of Vizsla Silver plunged 78 cents, or 12.4%, to $5.49 after the miner said that abducted workers from its project site in Concordia, Mexico have been found dead.
Elsewhere, Ola Mining led that sector upward, raining $2.23, or 10.5%, to $23.56, while Ivanhoe Mines took on $1.21, or 7.2%, to $18.02.
Gold performed well, too, as Iamgold jumped $2.75, or 10.5%, to $28.39, while Novagold tacked on a dollar, or 8%, to $13.56.
In tech issues Dye & Durham captured 84 cents, or 26.8%, to $3.97, while Bitfarms gained 16 cents, or 5.5%, to $3.08.
In consumer discretionary issues, Dollarama dropped $1.57 to $190.70, while Restaurant Brands dumped 55 cents to $96.29.
In consumer staples, George Weston sagged 85 cents to $101.07.
ON BAYSTREET
The TSX Venture Exchange gained 22.87 points, or 2.2%, to 1,097.51.
All but two of the 12 TSX subgroups were higher on the scale at the close, with gold triumphing 4.6%, materials proved 4.4%, and information technology climbed 2%.
The lone laggards turned out to be consumer staples and utilities, off 0.3% each.
ON WALLSTREET
The S&P 500 rose on Monday, boosted by technology stocks, while the Dow Jones Industrial Average reached new heights as investors awaited critical economic data and another batch of earnings reports following a volatile week that ended with the 30-stock index reaching a key milestone.
The 30-stock index gained 20.2 points, to 50,135.87
The much-broader index gained 32.52 points to 6,964.82.
The NASDAQ popped 207.46 points to 23,238.67.
Nvidia and Broadcom were standouts yet again Monday, extending their gains from the previous session, Nvidia with an advance of and Broadcom gaining 3.3%. Shares of fellow artificial intelligence player Oracle were up 9.6% after receiving an upgrade to buy from neutral at D.A. Davidson due to optimism around OpenAI and its beneficiaries.
The developments come after the major averages rebounded Friday, with the Dow exceeding 50,000 for the first time ever, following sizable losses suffered earlier in the week. The rout was sparked by a sell-off in tech, led by software stocks. Bitcoin also plunged before recovering a bit as investors took a risk-off posture.
Shares of Oracle were up 8% after receiving an upgrade to buy from neutral at D.A. Davidson due to optimism around OpenAI and its beneficiaries.
Investors will be watching for the delayed January jobs report from the Bureau of Labor Statistics, which is due out Wednesday. The release was initially scheduled for last Friday but was postponed due to the partial government shutdown.
It also comes after ADP reported last week that private payrolls increased by a mere 22,000 in January, well below expectations. Economists polled by Dow Jones anticipate the closely watched jobs report will show a gain of 55,000 in January.
The January consumer price index reading — which was also delayed by the shutdown — is due out Friday, with the consensus looking for a 2.5% annual rate.
Prices for the 10-year Treasury gained slightly, lowering yields to 4.20% from Friday’s 4.21%. Treasury prices and yields move in opposite directions.
Oil prices took on 75 cents to $64.90 U.S. a barrel.
Gold prices spiked $127.10. to $5,106.90 U.S. an
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