Stocks in Canada’s largest market were subdued on Monday, as a more than 3% dip in oil prices pressured energy stocks, while investors awaited remarks from the Bank of Canada governor for cues on future policy path.
The TSX poked ahead 2.64 points to open Monday at 35,809.29
The Canadian dollar docked 0.12 cents to 71.49 cents.
Meanwhile, First Majestic Silver dipped $1.31, or 4.7%, to $26.88, and Equinox ?Gold dropped 44 cents, 2.5%, to $17.07, tracking lower precious ?metal prices.
The commodity-heavy Canadian benchmark is up nearly ?13% so far this year, outperforming the U.S. benchmark index S&P 500's ?11.8% gain.
Market participants await Bank of Canada Governor Tiff Macklem's ?speech, scheduled later ?in the day, for clues on the central bank's future policy path.
ON BAYSTREET
The TSX Venture Exchange lost 8.75 points or 1%, to break for lunch at 914.32.
The 12 subgroups were evenly split at the opening bell on Monday, as information technology picked up 1.2%, while financials were richer 1%, and real-estate gained 0.5%.
The half-dozen laggards were weighed most by energy, down 2.1%, gold, retreating 1.3%, and materials, off 1%.
ON WALLSTREET
U.S. stocks rose on Monday as key technology names advanced and oil prices and Treasury yields slipped, with Wall Street looking to recover
from a mostly lower week.
The Dow Jones Industrials leaped 257.44 points to 51,940.08
The S&P 500 Index headed higher 91.17 points, or 1.2%, to 7,638.87.
The NASDAQ Composite surged 467.14 points, or 1.8%, to 26,989.68.
The broader market was supported by a rise in artificial intelligence-related stocks. Shares of Intel popped 13%, while Advanced Micro Devices added 9% and hit $1 trillion in market cap. Others such as Qualcomm increased 6%.
Prices for the 10-year Treasury bounced, lowering yields to 4.96% from Friday’s 5.01%. Treasury prices and yields move in opposite directions.
Oil prices retreated $4.48 to $95.82 U.S. a barrel.
Gold prices went south $36.50 to $4,388.40 U.S. an ounce.
