Markets in Toronto were slightly in the green Monday morning, after hitting a two-week high on Friday in the wake of North American jobs data.
The S&P/TSX composite index pointed up 39.99 points to begin Monday at 13,826.49
The Canadian dollar docked 0.13 cents to 90.46 cents U.S.
Much TSX strength was concentrated in mining stocks.
Cameco on Friday scrapped its lofty production target for uranium due to excess global supply in an uncertain market. Cameco shares tumbled $1.48, or 6.3%, soon after the opening bell, to $21.95.
HudBay Minerals has offered to buy shares of Augusta Resource Corp it does not already own for $2.96 per share in stock, to gain access to Augusta's Rosemont copper deposit in Arizona. Shares in HudBay dipped 46 cents to $8.94.
CIBC cuts target price on Dorel Industries to $39 from $41 after the company announced earnings would be low, adding it sees results strained through the forecast period. Dorel shares gained 32 cents to $36.98.
On matters economic, figures released by Canada Mortgage and Housing Corporation revealed that housing starts slowed in January compared with the previous month.
The agency estimates there were 11,737 actual starts in January and that is extrapolated out to a seasonally-adjusted annual rate of 180,248, down from 187,144 in December.
ON BAYSTREET
The TSX Venture Exchange eked up 2.21 points to 964.31
Nine of the 14 Toronto subgroups were higher at the outset, led by gold, shining 3.3% brighter, materials, up 1.8%, and information technology, up 0.4%.
The five laggards were weighed mostly by energy, down 0.2%, consumer discretionary issues, off 0.1%, and utilities, sliding 0.04%.
ON WALLSTREET
Stocks were little changed early Monday ahead of testimony from the new U.S. Federal Reserve chair later this week.
The Dow Jones Industrial Average dropped 22.34 points to 15,771.74.
The S&P 500 index lost 0.41 points to 1,796.61. The NASDAQ added 7.08 points to 4,132.94.
The Dow surged 160 points Friday as investors shrugged off a tepid jobs report and put their faith in the Fed.
Shares of Apple rose after hedge fund manager Carl Icahn dropped a potential proxy fight with the iPhone maker regarding its share repurchase program.
Icahn has been pushing Apple to use its cash to buy back more of its own stock.
But Icahn said in a letter to Apple shareholders Monday that he now sees no reason to pursue a fight with Apple in light of the company's recent "opportunistic" and "aggressive" share purchases.
Toy maker Hasbro missed on earnings expectations but the company increased its dividend. Shares rose in early trading. The reaction to Hasbro's results was a big contrast to how investors treated rival Mattel after it reported weak holiday sales last month. Mattel plunged on that news.
Yelp shares soared on reports the online review site will partner with Yahoo to incorporate reviews in Yahoo's search engine's results.
Investors may be reluctant to make any big moves before Tuesday's Congressional testimony by Fed Chair Janet Yellen. This will be Yellen's first time testifying since taking control of the central bank this month.
Investors will be watching to see if she sheds any light on plans to further taper, or slow down, the Fed's stimulus program.
Prices for 10-year U.S. Treasuries were unchanged, leaving yields at Friday’s 2.68%.
Oil prices eked up five cents to $99.94 U.S. a barrel.
Gold prices rose $11.40 to $1,274.20 U.S. an ounce.
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