The gains enjoyed by stocks in Toronto were not as exciting as those on Friday, but the index still finished in positive readings at Monday’s close, driven largely by tech and real-estate issues.
The TSX came off its highs of the day, but still beat breakeven 42.56 points to end Monday at 19,857.07.
The Canadian dollar sprang up 0.3 cents at 74.71 cents U.S.
Among the stronger tech issues, HUT 8 Mining gathered 21 cents, or 17.1%, to $1.44, while Converge Tech Solutions grabbed 26 cents, or 5.7%, to $4.80.
In real-estate, units of Interrent REIT climbed 37 cents, or 2.8%, to $13.48, while Canadian Apartment Properties REIT increased in price $1.09, or 2.5%, to $44.68.
In energy, Pason Systems took on 63 cents, or 4%, to $16.52, while Precision Drilling hiked $4.04, or 4.1%, to $103.03.
Health-care stocks put a weight on things, however, with Tilray fading 32 cents, or 8.1%, to $3.64, while Bellus Health fell 78 cents, or 7.2%, to $10.11.
In gold stocks, OceanaGold lost 14 cents, or 4.8%, to $2.79, while Eldorado Gold faded 30 cents, or 2.5%, to $11.69.
In materials, K92 Mining dipped 45 cents, or 5.3%, to $8.11, while Endeavour Silver slipped 15 cents, or 3.2%, to $4.53.
On the economic slate, the seasonally adjusted IVEY PMI fell to 33.4 last month from 51.4 in November, its lowest level since April 2020 and well below the 50 threshold that indicates a decrease in activity, while building permits jumped in number 14.1% in November to $11.0 billion, rebounding after two consecutive monthly losses. during November, that word from Statistics Canada.
ON BAYSTREET
The TSX Venture Exchange improved 4.79 points to 568.68.
Seven of the 12 subgroups were in the green Monday, with information technology increasing 0.9%, real-estate stronger 0.7%, and energy up 0.6%.
The five laggards were weighed most by health-care, down 2.1%, while gold decreased 1.1% and materials dipped 0.6%.
ON WALLSTREET
Stocks rose led by technology on Monday as traders added to bets that inflation may be easing.
The Dow Jones Industrials flopped 112.96 points to close Monday at 33,517.65, after flying high much of the day, as defensive drug stocks like Merck and Johnson & Johnson weighed on the index.
The S&P 500 points shed 2.99 points to 3,892.09.
The NASDAQ Composite Index churned out gains of 66.36 points to 10,675.65, pushed up by a nearly 6% rally in Tesla stock.
That follows a winning week for the three major indexes, with the Dow and S&P 500 posting their best weeks since November. A chunk of those gains came Friday, with the Dow rallying 700 points, while the S&P 500 gathered 2.3% and NASDAQ advanced 2.6%. Those gains were spurred by the latest batch of economic data released Friday.
Monday marks the fifth trading day, reminding investors of a classic Wall Street rule that suggests the market will end the year up if stocks perform well in the first five sessions. The S&P 500 has ended the year positive 83% of the times it ended the first five trading sessions up — and with an average gain of 14%, according to the Stock Trader’s Almanac.
Investors will watch December’s consumer price index report coming Thursday and big bank earnings scheduled for Friday.
Prices for the 10-year Treasury recovered, lowering yields to 3.53% from Friday’s 3.56%. Treasury prices and yields move in opposite directions.
Oil prices poked ahead $1.04 to $74.81 U.S. a barrel.
Gold prices climbed $5.90 to $1,875.60 U.S. an ounce.