Canada's main stock index rose on Monday, as global sentiment was lifted by a possible end to the historic U.S. government shutdown, while higher commodity prices also provided a tailwind.
The TSX accelerated 307.13 points, or 1%, at 30,219.32
The Canadian dollar gained 0.12 cents to 71.32 cents U.S.
Meanwhile, Constellation Software's third-quarter revenue rose, but the figures slightly missed estimates. Constellation shares
ON BAYSTREET
The TSX Venture Exchange 28.36 points, or 1%, to 914.07.
All but three of the 12 TSX subgroups were higher, with gold brighter by 4.1%, while materials soared 3.5%, and information technology grabbed 2.2%.
Energy dipped 0.3%, while real-estate settled 0.2%. Industrials were unchanged in the first hour.
ON WALLSTREET
Stocks rose on Monday after Senate lawmakers took a critical step towards a potential deal to end the historic U.S. government shutdown.
The Dow Jones Industrials 172.68 points to 46,159.78
The S&P 500 jumped 78.87 points, or 1.2%, to 6,807.67.
The NASDAQ soared 463.14 points to 23,467.68.
Nvidia, Broadcom and other artificial intelligence bull market leaders led the gains as a possible end to the shutdown put investors in a risk-taking mood again.
Those stocks led the broader market lower last week as those on Wall Street grew worrisome about elevated valuations in the AI trade.
Microsoft shares also rose more than 1%, on pace to snap and eight-day losing streak. That’s the stock’s longest daily slide since 2011.
Investors continue to monitor lawmakers’ negotiations to pass a federal funding bill that would end a shutdown.
A procedural measure that allows other votes on the agreement to be held on Monday was approved by a minimum of 60 yes votes, after eight senators in the Democratic caucus broke with party leadership to support the deal.
The deal being would reopen the government into January and reverse some of the recent mass federal layoffs. It also includes future protections for government workers.
The agreement does not include an extension of ACA credits, a key sticking point for most Democrats, but it would call for a vote on the subsidies in December.
Prices for the 10-year Treasury fell, raising, yields to 4.10% from Friday’s 4.09%. Treasury prices and yields move in opposite directions.
Oil prices slid 16 cents to $59.59 U.S. a barrel.
Gold prices leaped $89.70 to $4,098.50. U.S. an ounce.
