Positives to Start Week’s Trading - InvestingChannel

Positives to Start Week’s Trading

Stocks in Toronto forged gains Monday and managed to hold onto them by the closing bell, headed by health-care and communications concerns.

The TSX gained 79.13 points by close Monday to 20,275.82.

The Canadian dollar gathered 0.2 cents to 74.05 cents U.S.

As mentioned, health-care stocks led the parade, Tilray the boss there, gaining 20 cents, or 5.7%, to $3.71, while Sienna Senior Living seized 26 cents, or 2.4%, to $11.00.

Among communications plays, Rogers grabbed $1.72, or 2.7%, to $65.89, while Cogeco Communications gained $1.57, or 2.4%, to $66.62.

Consumer discretionary issues had a fine day, too, with Magna International shooting $2.24, or 3.3%, to $71.20, whjile MTY Food Group improved $1.74, or 2.9%, to $60.94.

Gold and other metals let the side down, however, with Seabridge Gold up 31 cents, or 1.7%, to $17.76, while Torex Gold doffed 57 cents, or 2.6%, to $21.92. Silvercrest Metals shed 18 cents, or 1.9%, to $9.35, while Teck Resources slid $1.51, or 2.6%, to $57.76.

In real-estate, Colliers International was pounded $4.68, or 3.4%, to $133.60, while Storagevault Canada lost five cents to $6.14.

ON BAYSTREET

The TSX Venture Exchange regained 0.73 points to 626.58.

All but three of the 12 TSX subgroups were higher by the close, with health-care stocks gathering 2.4%, communications clicking 0.9%, and consumer discretionary better by 0.8%.

The three laggards were gold, dulling in price 1%, while real-estate lost 0.3%, and materials faded 0.1%.

ON WALLSTREET

The S&P 500 was little changed Monday as investors looked ahead to key inflation data this week.

The Dow Jones Industrials gained 100.64 points on the day to 33,585.93.

The broader index poked ahead 4.11 points to 4,109.13.

The NASDAQ remained negative, but climbed to within 3.6 points of breakeven to close at 12,084.35.

Tech stocks struggled, with shares of Apple falling 1.8% and Google-parent Alphabet sliding 1.8%. Tesla shares fell 0.3% after the company said it will cut prices again on some electric vehicles. Meanwhile, shares of chipmakers rose after Samsung said it would cut production to support prices; Micron Technology shares gained 8%.

Investors are in for a busy week of economic data, including the latest consumer price index and producer price index data – due out Wednesday and Thursday, respectively – which will be key in determining if or when the Fed will pause or put an end to its rate hiking campaign.

Prices for the 10-year Treasury dipped, lifting yields to 3.42% from Thursday 3.30%. Treasury prices and yields move in opposite directions.

Oil prices faltered 82 cents to $79.88 U.S. a barrel.

Gold prices declined $19.60 to $2,006.80 U.S. an ounce.

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