Equities in Toronto recovered from a stumbling start on Monday, carried by strength in gold and tech issues, counteracting weakness in energy stocks. This, as rising tensions between the United States and China sapped appetite for risky assets.
The TSX climbed out of the hole and surged 61.98 points to reach noon hour EST at 17,582.95.
The Canadian dollar lost 0.10 cents to 78.13 cents U.S.
Pot producer Aurora Cannabis fell 48 cents, or 3.5%, the most on the TSX, to $13.41. The second biggest decliner was oil producer Gibson Energy, down 60 cents, or 2.7%, to $21.85.
OceanaGold, had been in positive country, but fell two cents to around breakeven, or 44 cents, whole uranium producer Cameco Corp only built on its strength, rising $1.56, or 11.1%, to $15.68.
On the economic slate, Western University’s IVEY School of Business came out with its Purchasing Managers’ Index for November. The index moved lower to 52.7, from October's 54.5, and way down from the 60 figure in November 2019.
ON BAYSTREET
The TSX Venture Exchange ballooned 14.37 points, or 1.9%, to 783.44.
The 12 TSX subgroups were evenly divided, with gold brightening 3.5%, materials up 2.1%, and information technology adding 1.3%.
The half-dozen laggards were weighed most by energy, subsiding 0.6%, consumer discretionary stocks, down 0.3%, and industrials, off 0.2%.
ON WALLSTREET
The Dow Jones Industrial Average and S&P 500 fell on Monday following a record-setting session as traders worried about rising coronavirus cases and searched for clues on additional fiscal aid.
The 30-stock index faded 115.60 points, off its lows of the morning, to 30,102.66. Chevron dipped 2%, while Intel capsized 1.7%, the two worst performing on the Dow.
The S&P 500 deleted 4.38 points to 3,694.74.
The NASDAQ moved higher, though, 49.51 points to 12,513.75, and hit a fresh record high. Facebook, Apple and Netflix all rose more than 1% to lead the NASDAQ higher. Tesla also contributed to the NASDAQ’s gains, advancing 2.9%.
Dr. Deborah Birx warned on Sunday that the escalating coronavirus cases will be "the worst event that this country will face, not just from a public health side."
On Thursday, more than 2,800 U.S. deaths from the disease were recorded, a new high, according to data compiled by Johns Hopkins University. More than 14 million Covid-19 cases have been confirmed in the U.S. along with over 282,000 coronavirus-related deaths. Hospitalizations have also reached record levels in the U.S.
Prices for the 10-Year Treasury revived, lowering yields to 0.93% from Friday’s 0.97%. Treasury prices and yields move in opposite directions.
Oil prices sank four cents to $46.22 U.S. a barrel.
Gold prices hiked $28.60 to $1,868.60.
Related Stories
