Equities in Toronto shared in the general good vibes of their American counterparts, surging on the backs of health-care and real-estate issues.
The S&P/TSX Composite Index finished Monday solidly in the green, 120.84 points to 15,974.91.
The Canadian dollar progressed 0.70 cents at 74.81 cents U.S.
Health-care stocks proved the stars of the show, with HEXO running away with the honours, gaining 45 cents, or 41.7%, to $1.53, while Cronos Group galloped $1.84, or 20.8%, to $10.69.
Among real-estate winners, Dream Office REIT rang louder $1.93, or 9%, to $23.37, while H&R REIT picked up 74 cents, or 6.6%, to $12.02.
Energy stocks also made some noise, with Shawcor thundering higher $1.54, or 43.4%, to $5.09, while Baytex Energy sprinted 11 cents, or 13.1%, to 95 cents.
Consumer staples dragged things down a bit, with Alimentation Couche-Tard slipping $1.63, or 3.8%, to $41.49, while Jamieson Wellness docked 50 cents, or 1.6%, to $31.17.
In the industrial sector, Thomson Reuters shed $2.78, or 2.9%, to $92.65, while Morneau Shepell sank 85 cents, or 2.6%, to $31.55.
Gold also didn’t have its “brights” on, with Novagold tumbling $1.45, or 11.9%, to $10.71, while Kirkland Lake Gold fell 92 cents, or 1.8%, to $50.43.
Canada Mortgage and Housing Corporation this morning put the trend in housing starts at 196,750 units in May, down from 198,644 units in April.
Excluding Quebec, the trend was 151,072 units last month, down from 155,600 units in April.
ON BAYSTREET
The TSX Venture Exchange zoomed 8.21 points, or 1.5%, to 565.12.
All but three of the 12 TSX subgroups were positive on the day, with health-care soaring 8.3%, real-estate ahead 3%, and energy 2.6% more energetic.
Consumer staples waned 1.7%, industrials lost 0.3%, and gold dulled in price 0.2%.
ON WALLSTREET
The S&P 500 wiped out all its 2020 losses on Monday as traders grew more optimistic about the prospects of an economic recovery while states continue to reopen.
The Dow Jones Industrials powered 461.46 points, or 1.7%, to close Monday at 27,572.44, trimming its 2020 losses to 3.3%.
The S&P 500 prospered 38.46 points, or 1.2%, to 3,232.39, turning positive for the year after bouncing about 47% off its March low.
The NASDAQ shot higher 110.66 points to 9,924.75, hitting a fresh record high and bringing its year-to-date gains to 10.6%.
Stocks tied to the reopening of the economy, including airlines, retailers and cruise lines, led the gains once again. United Airlines was up 14.8%, while American Airlines jumped 9.2%, while Kohl’s added 8.4%. Shares of Carnival Corp. were up 15.8%.
Investors will be concentrating on the Federal Reserve’s statement on interest rates Wednesday and a press conference from Chairman Jerome Powell. The Fed is expected to reiterate its commitment to unlimited asset purchases to keep markets functioning.
Prices for the 10-Year Treasury were higher, lowering yields to 0.87 from Friday’s 0.88%. Treasury prices and yields move in opposite directions.
Oil prices lopped off $1.33 to $38.22 U.S. a barrel.
Gold prices regained $23.30 to $1,706.30 U.S. an ounce.