Equities in Toronto topped off a very successful day with gains topping 100 points, mostly on the strength of cannabis and energy shares.
The S&P/TSX Composite Index surged 111.02 points to conclude Monday at 16,251.37.
The Canadian dollar was unchanged at 74.95 cents U.S.
The largest percentage gainer on the TSX was Hexo Corp, which rose 79 cents, or 9.8%, to $8.89, after brokerage Cormark Securities upgraded stock to "buy" from "speculative buy".
Elsewhere in the health field, Canopy Growth advanced six cents to $60.93.
In energy stocks, Suncor rose 73 cents, or 1.6%, to $45.75, while Imperial Oil advanced 74 cents, or 2%, to $37.13.
Among consumer discretionary stocks, Magna International acquired 52 cents to $65.80, while Gildan Activewear picked up 43 cents a share to $48.27.
Gold proved the worst off of the losing subgroups, as Barrick Gold lost 16 cents to $17.27, while Goldcorp sifted off 11 cents to $14.38.
In other resource stocks, Agnico Eagle Mines pulled back 79 cents, or 1.4%, to $57.67.
Consumer staples were also in the red, as Loblaw Companies subtracted 23 cents to $65.43, while Maple Leaf Foods surrendered a penny to $27.09.
On the economic front, Statistics Canada said foreign investors bought up $28.4 billion of Canadian securities in January, following a significant divestment in December. Meanwhile, Canadian investors reduced their holdings of foreign securities by $8.8 billion, led by sales of U.S. shares.
ON BAYSTREET
The TSX Venture Exchange powered ahead 4.82 points to 632.59
Eight of the 12 TSX subgroups were going forward, with health-care more robust by 2.3%, energy gushing 2% higher, and consumer discretionary stocks ahead 0.7%
The four laggards were weighed most heavily by gold, sinking 1.1%, materials weaker by 0.5%, and consumer staples, off 0.3%.
ON WALLSTREET
Stocks rose on Monday as Amazon and Apple outperformed, but gains were kept in check amid pressure from Boeing and Facebook, while investors braced for a busy week highlighted by a key Federal Reserve meeting.
The Dow Jones Industrial Average whipsawed, but finished in the green 65.23 points to 25,914.10
The S&P 500 moved higher 10.46 points to 2,832.94, as the energy and financials sectors rose more than 1% each. The S&P 500 is up 13% this year and is on pace to post its biggest quarterly gain since the third quarter of 2009.
The NASDAQ Composite strengthened 25.95 points to 7,714.48, as Amazon rose more than 1.5%.
Boeing fell more than 1.5% after The Wall Street Journal reported the Department of Transportation and federal prosecutors were scrutinizing the development of the company's 737 Max planes. This comes after an Ethiopian Airlines flight involving the 737 Max 8 jet crashed last week.
Facebook shares also fell 3.3% after an analyst at Needham downgraded the company to hold from buy, citing worries about Facebook's pivot to privacy and encrypted messages as well as the possibility of more regulatory scrutiny.
Investors braced themselves for a busy week highlighted by a Federal Reserve meeting that kicks off on Tuesday. Market expectations for a rate hike are at zero, according to the CME Group's FedWatch tool. However, investors will look for clues about the central bank's economic outlook.
The Fed signaled it will be "patient" in raising rates at its previous meeting this year.
Prices for the benchmark 10-year U.S. Treasury gained ground, lowering yields back to Friday’s 2.59%. Treasury prices and yields move in opposite directions.
Oil prices were up 45 cents to $58.97 U.S. a barrel.
Gold prices gained $1.40 to $1,304.30 U.S. an ounce.
