Stocks rose in early trade Monday, as tensions over North Korea eased and investors returned to riskier assets, but resource stocks fell broadly as the price of safe-haven gold slipped.
The S&P/TSX Composite Index rocketed 122.3 points to kick things off Monday at 15,155.68
The Canadian dollar regained 0.23 cents to 78.72 cents U.S.
Bombardier acquired three cents a share, or 1.2%, to $2.59.
Credit Suisse reinstated coverage on Hydro One with a neutral rating and $26.00 target price.
Hydro One ducked back six cents to $22.73.
Barclays cut the price target on Metro Inc. to $44.00 from $45.00. Metro shares climbed 32 cents to $43.01.
JP Morgan raised the price target on Trican Well Service to $6.00 from $5.00. Trican shares were unchanged at $3.49.
ON BAYSTREET
The TSX Venture Exchange gained 4.04 points to 766.85
All but two of the 12 TSX subgroups were positive in the first hour, with industrials surging 1.4%, consumer staples and information technology each adding 1.3%.
The two laggards were gold, off 1%, and materials, slipping 0.3%.
ON WALLSTREET
U.S. stocks opened sharply higher on Monday as traders saw geopolitical tensions easing.
The Dow Jones Industrials leaped 140.99 points to 21,999.31, with Goldman Sachs contributing the most gains.
The S&P 500 gained 21.08 points to 2,462.40, with financials and information technology leading all sectors higher.
The NASDAQ jumped 66.57 points, or 1.1%, to 6,323.12, as shares of Tesla, Amazon and Facebook all rose.
Stocks were coming off their second-worst weekly performance of the year, with the S&P 500 falling 1.4%
Prices for the benchmark 10-year Treasury note backtracked, raising yields to 2.21% from Friday’s 2.19%. Treasury prices and yields move in opposite directions.
Oil prices inched up nine cents to $48.91 U.S. a barrel
Gold prices dipped $6.20 to $1,287.800 U.S. an ounce.
