Equities in Canada’s largest centre recovered from the tatters of late last week, led by rises in material and industrial issues.
The TSX climbed 40.94 points to conclude Monday at 20,260.13.
The Canadian dollar eked up 0.13 cents to 73.66 cents U.S.
Materials proved the strongest of the dozen subgroups on the exchange, with Ero Copper gaining $1.47, or 7.2%, to $22.01, while Hudbay Minerals acquiring 41 cents, or 6.5%, to $6.72.
In industrials, Exchange Income Corporation advanced $1.02, or 2%, to $51.60, while Westshore Terminals Investment took on 48 cents, or 1.9%, to $25.26.
Among energy plays, Spartan Delta gained 32 cents, or 2.6%, to $12.58, while Secure Energy Systems jumped 19 cents, or 2.3%, to $46.31.
Health-care stocks led the side down, however, with Sienna Senior Living shares taking 33 cents, or 2.8%, to $11.54, while Tilray ditched 11 cents, or 2.9%, to $3.74.
In consumer staples, Jamieson Wellness slid 78 cents, or 2.3%, to $32.72, while George Weston dropped $3.77, or 2.2%, to $170.02.
Among utilities, Brookfield Infrastructure fell 82 cents, or 1.8%, to $45.61, while Algonquin Power sank 20 cents, or 1.9%, to $10.45.
ON BAYSTREET
The TSX Venture Exchange grabbed 7.97 points, or 1.3%, to 624.83.
The 12 TSX subgroups were evenly divided, with materials progressing 1.2%, industrials rumbling 0.6%, and energy gushing 0.5%.
The half-dozen laggards were weighed most by health-care, off 2.3%, consumer staples, falling 1% and utilities, hesitating 0.5%.
ON WALLSTREET
Stocks rose Monday as traders tried to recover some ground following the worst week of the year on Wall Street. Investors also looked ahead to another big week in retail earnings.
The Dow Jones Industrials maintained gains it achieved throughout the day, finishing ahead 72.17 points to 32,889.09.
The S&P 500 regained 12.2 points to 3,982.24. The S&P also got a boost from railroad operator Union Pacific, which climbed 10% after the company announced CEO Lance Fritz will step down this year.
The NASDAQ Composite recovered 72.04 points to 11,490.06.
The early 2023 rally seems to be fading as traders worry that rates could stay higher for longer. The Federal Reserve’s latest meeting minutes showed officials are determined to keep raising rates until inflation comes down.
Stocks sank Friday and Treasury yields jumped following a bigger-than-expected increase in the latest reading for personal consumption expenditures, the Federal Reserve’s preferred inflation gauge.
On the economic data front, durable goods orders fell in January as consumers pulled back spending on big-ticket items.
In earnings, just 6% of the S&P 500 will report but investors are looking for insight into the consumer with several major retailers, restaurants, some travel and entertainment names as well as food companies set to report. Target, Costco, Lowe’s and Macy’s are some of the big names set to report earnings this week.
Prices for the 10-year Treasury surged, lowering yields to 3.93% from Friday’s 3.95%. Treasury prices and yields move in opposite directions.
Oil prices settled 62 cents to $75.70 U.S. a barrel.
Gold prices leaped $6.80 to $1,823.90 U.S. an ounce.