Equities in Canada’s largest centre moved steeply into positive territory Monday, feeling the buzz from south of the border, namely, word that U.S. President Donald Trump was soon to be released from a Maryland hospital.
The TSX popped 210.94 points, or 1.3%, to end the session Monday at 16,410.19.
The Canadian dollar reattached 0.17 cents to 75.40 cents U.S.
Health-care issues led the way, primarily, pot producer Aphria, which jumped 76 cents, or 13%, to $6.63, and Trillium Therpeutics, vaulting $1.22, or 6.7%, to $19.38.
Energy stocks also helped the index climb the ladder, with Seven Generations pumping 35 cents, higher, or 10%, to $3.84, while Vermilion Energy acquired 20 cents, or 6.3%, to $3.36.
Materials also had their day, with Hudbay Minerals jumping 37 cents, or 6.6%, to $5.94, while Silvercorp Metals brightened 33 cents, or 3.4%. to $10.00.
ON BAYSTREET
The TSX Venture Exchange regained 4.2 points to close Monday 712.80.
All 12 TSX subgroups were positive, with health-care leaping 4.4%, energy, up 2.8%, and materials better by 1.7%.
ON WALLSTREET
U.S. stocks climbed on Monday after President Donald Trump said he will be discharged from the hospital Monday evening, easing concerns about more political uncertainty ahead of Election Day.
The Dow Jones Industrial Average moved skyward 465.83 points, or 1.7%, to finish Monday at 28,148.64.
The S&P 500 advanced 60.18 points, or 1.8%, to 3,408.62.
The NASDAQ leaped 257.47 points, or 2.3%, to 11,332.49.
Stocks jumped to their session highs after Trump said in an afternoon tweet that he will be leaving Walter Reed National Military Medical Center at 6:30 p.m. ET, just three days after he entered the hospital to be treated for coronavirus.
Trump’s physician Dr. Sean Conley said Monday the president’s condition has “continued to improve” over the past 24 hours, but cautioned that "he may not entirely be out of the woods yet."
Conley added the president will receive his fifth and final dose of antiviral drug remdesivir at the White House Tuesday night.
Optimism for reaching a compromise rose over the weekend after House Speaker Nancy Pelosi signaled progress on Friday, saying "we continue to work on the text to move quickly to facilitate an agreement."
Pelosi on Friday called on the airline industry to delay furloughs, saying additional relief for the industry is "imminent."
After Trump’s diagnosis, former Vice President Joe Biden opened his widest lead in a month in the presidential race with 51% of those polled backing him and 41% saying they would vote for Trump, according to a Reuters/Ipsos poll released on Sunday from over the weekend.
Prices for the 10-Year Treasury plunged, boosting yields to 0.77% from Friday’s 0.69%. Treasury prices and yields move in opposite directions.
Oil prices recovered $2.31 to $39.36 U.S. a barrel.
Gold prices climbed 10 dollars to $1,917.60 U.S. an ounce.
