The S&P/TSX regained 88.75 points, to open Monday and the week at 20,3879.48.
The Canadian dollar hiked 0.24 cents to 79.68 cents U.S.
Air Canada is expecting a demand for flights between Canada and the Asia-Pacific to recover to a near pre-pandemic level by December next year.
The Maple Leaf Airline raised its sights 19 cents to $21.48.
CIBC raised the rating on Canadian National Railway to outperform from neutral.
CN shares acquired 61 cents to $148.27.
National Bank started coverage on Dentalcorp Holdings with an outperform rating. Dentalcorp shares faded 25 cents, or 2%, to $12.13.
CIBC cut the rating on Martinrea International to neutral from outperform. Martinrea shares gained 16 cents, or 1.7%, to $9.61.
ON BAYSTREET
The TSX Venture Exchange recovered 3.09 points to 723.20.
Seven of the 12 subgroups began the session upward, with energy rumbling 1.1%, information technology, up 0.7%, and financials hiked 0.6%.
The five laggards were weighed by health-care, down 1.2%,
ON WALLSTREET
Stocks moved broadly higher on Monday as Wall Street tried to rebound from a losing week.
The Dow Jones Industrials rocketed 330.58 points, or 1%, to 33,230.28.
The S&P 500 climbed 58.47 points, or 1.4%, to 4,167.01.
The NASDAQ Composite heightened 215.41 points, or 1.8%, to 12,228.14.
Sentiment got a boost on after Beijing rolled back some Covid-related restrictions. Meanwhile, The Wall Street Journal reported that Chinese regulators are wrapping up their investigations into ride-hailing giant Didi — potentially signaling that the country’s crackdown on its tech sector may be coming to an end.
Overseas, stocks rose more than 1% in China and over 2% in Hong Kong. Shares of Didi jumped more than 50%.
Tech stocks rose in the U.S., with Apple gaining more than 1%. Shares of Amazon rose 2% following a 20-for-1 stock split.
Elsewhere, solar stocks moved higher after the Biden administration moved to suspend tariffs on solar panel products from four countries.
Bank stocks also gained ground, with JPMorgan and Citibank adding more than 1% each, as interest rates rose.
Monday’s action followed another disappointing week for investors as the major averages suffered modest losses. The blue-chip Dow fell 0.9% for its ninth negative week in 10, while the S&P 500 and the Nasdaq Composite lost 1.2% and 1%, respectively, last week for their eighth losing week in nine.
Investors have been grappling with fears that the central bank could raise interest rates too fast and too much, causing a recession. Recent statements from the policy-setting Fed members indicate that 50 basis point — or a half-percentage-point — rate increases are likely at the June and July meetings.
Treasury prices faltered, raising yields to 2.99% from Friday’s 2.95%. Treasury prices and yields move in opposite directions. \Oil prices slipped 27 cents to $118.50 U.S. a barrel.
Gold prices eked ahead $1.50 to $1,851.70 U.S. an ounce.
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