Canada's commodity-heavy main stock index rose on Monday, led by gains in mining shares, as investors weighed concerns over a possible U.S. government shutdown.
The TSX Composite Index stopped for lunch Monday ahead 158.50 points to 29,919.78.
The Canadian dollar recovered 0.13 cents to 71.87 cents U.S.
Cannabis companies climbed on Monday after U.S. President Donald Trump advocated the potential benefits from the use of cannabidiol in senior healthcare in a social media post.
Pot firm Curaleaf Holdings jumped 69 cents, or 20.9%, to $3.99, while Canopy Growth popped 28 cents, or 14.9%, to $2.16,
Aurora Cannabis accelerated $1.78, or 26.3%, to $8.55, and Cronos Group rose 55 cents, or 15.1%, to $4.20.
ON BAYSTREET
The TSX Venture Exchange added 11.47 points, or 1.2%, to 945.42
All but three of the 12 subgroups were positive midday, with health-care powering ahead 4.7%, while materials hiked 2%, and gold rushed 1.1%.
The three laggards were energy, sliding 1.4%, consumer discretionary, off 0.2%, and real-estate, easing back 0.1%.
ON WALLSTREET
The S&P 500 rose on Monday as Wall Street tried to regain its footing after a week in which the artificial intelligence trade lost some steam.
The Dow Jones Industrial Index was 77.44 points lower than Friday’s close at 46,169.85.
The much-broader index recovered 12.83 points to 6,657.04.
The tech-heavy NASDAQ climbed 109.85 points to 22,593.92
AI chip darling Nvidia rose after skepticism around the AI trade put pressure on the broader stock market last week. Some traders even questioned whether there was enough energy to power an infrastructure plan between Nvidia and OpenAI.
Nvidia was last higher by 2%. Other AI stocks like Advanced Micro Devices and Micron Technology added 1% and 4%, respectively.
Meanwhile, shares of Electronic Arts jumped 4% after the video game company announced that it’s going to be taken private in a $55 billion deal.
U.S. M&A announced has surpassed $1 trillion year-to-date so far this year, up 29% from the same time a year ago, according to Goldman Sachs.
U.S. stocks slipped last week as cracks appeared in a key pillar of the bull market rally — enthusiasm surrounding artificial intelligence buildout. The S&P 500 saw its worst weekly performance since Aug. 1. The NASDAQ also recorded its weakest week since early August, and the Dow posted first loss in three weeks.
Prices for the 10-year Treasury gained ground, thus lowering yields to 4.14% from Friday’s 4.19%. Treasury prices and yields move in opposite directions.
Oil prices shed $2.42 to $63.30 U.S. a barrel.
Gold prices hiked $51.60 to $3,860.60 U.S. an ounce.
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