Stocks in Canada’s largest centre fell back slightly Monday, despite promising developments in energy and gold.
The TSX Composite Index backed off 6.66 points to begin Monday at 23,860.71.
The Canadian dollar advanced 3.14 to 73.93 cents U.S.
In corporate news, Canada-based investment issuer Alset AI Ventures said Morgan Good resigned as the company’s CEO and director. Alset closed Friday at 5.5 cents.
ON BAYSTREET
The TSX Venture Exchange nicked ahead 3.14 points to 588.05
Seven of the 12 TSX subgroups kicked off the session higher, with energy rumbling 0.7%, gold and utilities each advancing 0.3%.
The five laggards were weighed most by health-care dropped 0.6%, industrials off 0.4%, and communications, sliding 0.2%.
ON WALLSTREET
The S&P 500 rose slightly Monday after excitement over last week’s interest rate cut propelled stocks to a record-high levels.
The Dow Jones Industrials poked up 9.19 points to 42,072.55, yet another record high.
The much-broader index gained 10.2 points to 5,712.75.
The NASDAQ Composite acquired 42.22 points to 17,990.54.
The moves come after a winning week on Wall Street that centered around the Federal Reserve’s decision to lower interest rates by 50 basis points, its first cut in four years. Despite some choppiness following the initial announcement, stocks rallied in the days following.
Prices for the 10-year Treasury eased back, lifting yields to 3.78% from Friday’s 3.74%. Treasury prices and yields move in opposite directions.
Oil prices regained 14 cents at $71.14 U.S. a barrel.
Gold prices inched forward $5.90 to $2,652.10 U.S. an ounce