A generally exuberant day on North American stock markets engulfed Toronto as well, as indices climbed to highs they hadn’t seen for months.
The TSX Composite Index gained 75.74 points to finish Monday at 16,669.81
The Canadian dollar slipped 0.05 cents to 76.04 cents U.S.
Energy powered much of the rally, as Gran Tierra Energy popped 14 cents, or 9.6%, to $1.60, while Vermillion Energy jumped $1.75, or 9.6%, to $20.00
Among consumer discretionary issues, Canada Goose Holdings soared like the birds whose name it takes, up $2.93, or 5.3%, to $58.26, while Gildan Activewear leaped $1.28, or 3.8%, to $35.24.
Health-care concerns fared well, too, as Canopy Growth hurtled 68 cents, or 2.6%, to $26.58, while Bausch Health Companies gained 52 cents, or 1.5%, to $34.57.
Gold dulled in price, however, as Kinross Gold faded 6.5 cents , or 1%, to $6.29, and Barrick Gold retreated 44 cents, or 2%, to $21.91.
In consumer staples, Maple Leaf Foods sank 33 cents, or 1.4%, to $23.13, while Loblaw Companies faltered 78 cents, or 1.1%, to $69.12.
In real-estate, Allied Properties Real Estate Investment Trust dipped 31 cents to $53.88.
ON BAYSTREET
The TSX Venture Exchange inched ahead 0.21 points at 541.70
The 12 Toronto subgroups were evenly divided on the day, with energy racing ahead 3.2%, consumer discretionary stocks hurtling 1%, and health-care haler by 0.7%.
The half-dozen laggards were weighed most by gold, down 1.7%, consumer staples, off 1%, and real-estate, sliding 0.6%
ON WALLSTREET
The Dow Jones Industrial Average reached a milestone on Monday, joining the S&P 500 and NASDAQ Composite at record levels, as investor sentiment was lifted by strong earnings, a rebound in economic data and a potential U.S.-China trade deal.
The 30-stock index climbed 114.75 points to finish the day at 27,462.11, to its first high since mid-July. Monday’s rise brought the Dow’s year-to-date gain to nearly 18%. That would be the biggest one-year gain for the Dow since 2017, when it jumped 28.2%.
Chevron led the way higher for the Dow, rising 4.6%. Trade bellwethers Boeing and Caterpillar also rose more than 1% each.
Apple is by far the best-performing Dow stock since the index hit its previous record, rallying more than 25%. Intel, J.P. Morgan Chase and United Technologies are all up at least 10% in that time.
The S&P 500 added 11.36 points to 3,078.27, yet another fresh record high. The S&P 500 is up more than 22% for 2019 and is on pace for its biggest one-year gain since 2013, when it rallied nearly 30%.
The NASDAQ popped 46.8 points to 8,433.20, also an all-time high. The tech-rich index is also up more than 27% this year.
Meanwhile, the corporate earnings season has largely been better than expected. In all, 75% of the 360 S&P 500 companies that have reported have surpassed analyst expectations.
Under Armour posted Monday quarterly numbers that topped analyst expectations. However, the stock fell more than 18% after the company cut its 2019 revenue forecast, citing lower inventories and problems around its direct-to-consumer channels.
Uber Technologies and Shake Shack are among the companies set to report after the close Monday.
U.S. Commerce Secretary Wilbur Ross said Sunday that American firms would be granted licenses to sell to Chinese telecom giant Huawei "very shortly." Ross’ comments came after China said Friday it reached a consensus with the U.S. in principle following trade talks last week.
Prices for the benchmark 10-year U.S. Treasury slipped, raising yields to 1.78% from Friday’s 1.72%. Treasury prices and yields move in opposite directions.
Oil prices gained 36 cents to $56.56 U.S. a barrel.
Gold prices regained 30 cents to $1,511.70 U.S. an ounce.
