Equities in Canada’s largest centre were solidly in the green by the close Monday, led primarily by tech and energy firms.
The TSX Composite recovered 72.63 points to end Monday at 20,019.70.
The Canadian dollar regained 0.15 cents at 73.37 cents U.S.
Techs led the parade, with Coveo Solutions up 53 cents, or 7.7%, to $7.45, while Enghouse Systems soared $2.22, or 6.9%, to $34.49.
Energy charged up, with Precision Drilling gathering $2.39, or 2.5%, to $99.93, while Crescent Point Energy churned higher 21 cents, or 2.4%, to $9.12.
Among industrials, NFI Group picked up 35 cents, or 4%, to $9.15, while Ballard Power Systems took on 25 cents, or 3.4%, to $7.60.
In the communications field, Corus flattened two cents to $2.13, while Quebecor doffed 23 cents to $27.88.
In financials, ECN Capital docked 11 cents, or 3.8%, to $2.79, while Sprott Inc. let go of $1.35, or 2.9%, to $45.94.
In consumer staples, Empire Company slid 46 cents, or 1.2%, to $45.94, while Loblaw Companies fell $1.24, or 1%, to $124.31.
The latest U.S. inflation reading will be the final pit-stop before the Fed’s interest rate decision on Wednesday, where the central bank is expected to deliver a half-percentage-point rate hike.
The European Central Bank and the Bank of England are also expected to raise rates by 50 basis points this week.
ON BAYSTREET
The TSX Venture Exchange lost 3.73 points to 573.89.
All but three of the 12 subgroups were in positive country, information technology soaring 1.6%, energy gushing 0.8%, and industrials ahead 0.7%..
The three laggards were communications, down 0.4% financials, dipping 0.3%, gold, down 0.7%, and consumer staples lower 0.1%.
ON WALLSTREET
The Dow Jones Industrial Average jumped Monday, clawing back some of the steep losses from the previous week, as traders looked ahead to a highly anticipated Federal Reserve meeting and new inflation data.
The 30-stock index popped 528.58 points, or 1.6%, to 34,005.04. That was its first close over 34,000 since Dec. 2
The S&P 500 gathered 56.18 points, or 1.4%, to 3,990.56
The NASDAQ Composite Index surged 139.12 points, or 1.3%, to 11,143,74.
A lift in Boeing shares pushed the Dow higher following reports that the airline is close to a deal with Air India. Elsewhere, energy stocks rose as oil prices steadied, following several weeks of declines.
A slew of deal-making activity boosted sentiment. Coupa Software and Horizon Therapeutics were among biggest movers on Monday after the companies announced they’ve agreed to be bought. Shares of Coupa gained 26%, while Horizon added 15%.
Meanwhile, a New York Fed survey showed consumers had grown more optimistic about inflation in November. The bank’s survey of Consumer Expectations showed consumers expected one-year inflation to run at a 5.2% pace, down 0.7 percentage point from October.
Wall Street is coming off a rocky week that saw all three major averages lose ground. The Dow had its worst weekly loss since September, dumping 2.8%, and S&P 500 fell 3.4%. The NASDAQ dropped 4%.
The moves come as investors remain focused on inflation. On Tuesday, the November consumer price index will be released and traders will be looking for a sign that inflation is slowing.
The Federal Reserve has a two-day meeting starting the same day. The central bank is expected to announce another rate hike on Wednesday, though traders are anticipating a smaller move than in recent months.
Prices for the 10-year Treasury were lower, raising yields to 3.62% from Friday’s 3.59%. Treasury prices and yields move in opposite directions.
Oil prices picked up $2.43 to $73.45 U.S. a barrel.
Gold prices lost $18.20 to $1,792.50 U.S. an ounce.