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TSX Begins Week on Upward Note
The TSX regained 101.71 points to open Monday at 24,992.39.
The Canadian dollar recovered 0.10 cents to 71.09 cents U.S.
Canadian investors were squarely focused on the consumer price index data due this week, which could provide clues on the Bank of Canada's move at its December policy meeting.
The BoC slashed interest rates by half a percentage point last month to boost the domestic economy. Traders see a 33.4% chance for another 50-basis-point rate cut next month.
In corporate news, Canadian fund Brookfield plans to offer about seven billion euros ($7.4 billion U.S.) for Spanish drugmaker Grifols after finishing due diligence, according to news website El Confidencial. Brookfield shares slid 52 cents to $79.49.
In matters economic Monday, Canada Mortgage and Housing Corporation reports October housing starts increased 240,800 from 223,400 last year, while Statistics Canada said foreign investors increased their exposure to Canadian securities by $29.3 billion in September, the largest investment since April. Meanwhile, Canadian acquisitions of foreign securities slowed to $4.1 billion, down from a $12.3 billion investment in August.
ON BAYSTREET
The TSX Venture Exchange zoomed 11.08 points, or 1.9%, to 602.36.
Seven of the 12 subgroups were in the green, led by gold, shinier 3.5%, materials, stronger by 2.5%, and communications, up 0.8%.
The five laggards were weighed most by consumer staples, down 0.5%, health-care, sliding 0.4%, and financials, off 0.03%.
ON WALLSTREET
Stocks were mixed Monday as Wall Street braced for major earnings reports and monitored the state of the postelection rally.
The Dow Jones Industrials fell 76.53 points to 43,368.46.
The S&P 500 recouped 20.07 points to 5,890.69.
The NASDAQ Composite zoomed 147.28 points to 18,827.40, as Tesla gained 7%. The electric vehicle maker rose after Bloomberg News reported, citing sources, that President-elect Donald Trump’s team is working on ways to ease regulation on self-driving vehicles.
Prices for the 10-year Treasury swooned, raising yields to 4.45% from Friday’s 4.44%. Treasury prices and yields move in opposite directions.
Oil prices muscled higher $1.82 to $68.84 U.S. a barrel.
Prices for gold jumped $43.00 an ounce to $2,613.10 U.S.
NASDAQ Hikes to Start Week
