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Stocks Retain Momentum
The TSX remained higher 29.88 points to conclude Monday at 24,789.28, a new three-week high.
The Canadian dollar slid 0.09 cents to 71.82 cents U.S.
Quarterly earnings from e-commerce services giant Shopify will grab investor interest on Tuesday, while data from manufacturing sales is expected on Friday. Shopify shares galloped $4.12, or 3.4%, to $125. 37
In corporate news, Constellation Software slightly missed third-quarter revenue estimates on Friday. Constellation shares gathered $97.39, or 2.2%, to $4,454.39.
The technology sector led the overall gains, buoyed by blockchain-farm operator Bitfarms's shares that climbed 53 cents, or 16.9%, to $3.67, after Bitcoin soared to a record high above $82,000.
Elsewhere, ONEX Corp. led financial gainers, up $6.90, or 6.2%, to $118.06, while Brookfield Asset Management sprang up $2.03, or 2.6%, to $80.52.
In industrials, Stantec grabbed $3.37, or 3%, to $115.53, while Air Canada soared 61 cents, or 2.7%, to $23.15.
Gold led the losing subgroups, burdened by Seabridge Gold, down $1.95, or 8.4%, to $21.40, while Kinross Gold was cuffed around $1.31, or 9%, to $13.24.
In materials, Agnico Eagle Mines lost $7.60, or $109.07, while Hudbay Minerals dipped 86 cents, or 6.6%, to $12.13.
Meanwhile, the Montreal Longshoremen's Union rejected the final offer made for a new labour contract, leading to a lockout being declared.
Otherwise, the economic slate was bare, as Canadians remember veterans of wars around the globe.
ON BAYSTREET
The TSX Venture Exchange dived 7.85 points, or 1.3%, to 601.39.
Seven of the 12 subgroups were lower Monday, weighed most by gold, down 5.8%, materials, off 3.3%, and health-care, down 1%.
The five gainers were led by information technology, up 1.5%, financials, climbing 0.9%, and industrials, better by 0.6%.
ON WALLSTREET
The Dow Jones Industrial Average surged more than 300 points on Monday and was on pace for a record close as the benchmark’s postelection rally presses forward.
The 30-stock index zoomed 304.14 points to 44,293.13.
The S&P 500 index gained 5.81 points to 6,001.35.
The NASDAQ slid 11.99 to 19,298.76.
JPMorgan Chase hiked 1.2% and Goldman Sachs popped 2.2%, to lead the Dow higher. Bank of America and Citigroup shares were up 2% each. The cohort has posted sharp gains since Donald Trump’s election win last week, as investors hope his return to the White House could
lead to easier regulation of the banking sector.
Bitcoin surged above $87,000, boosted by hopes of deregulation as well. Crypto related stocks Coinbase moved skyward 23% and Mara Holdings rallied 31%. Tesla soared more than 7%, also adding to its postelection gain.
Bond markets were closed Monday for Veterans Day
Oil prices stumbled $2.15 to $68.23 U.S. a barrel.
Prices for gold faltered $65.30 an ounce to $2,629.30 U.S.
