Canada's main stock climbed to a new record high on Monday, lifted by mining stocks, kicking off the Christmas week on a positive note.
The TSX accelerated 322.16 points, or 1%. to approach noon hour at 32,077.93.
The Canadian dollar progressed 0.26 cents to 72.76 cents U.S.
TSX has gained 1.2% this month as strength in financial and gold stocks has outweighed volatility in technology and energy stocks. It is also set to outperform the major Wall Street indexes this year with a 28.5% rise, its best yearly showing since 2009.
The Canadian economy has shown resilience in the face of a tariff dispute with the U.S. Investors now look forward to whether Prime Minister Mark Carney's fiscal stimulus would unlock billions of dollars in investment.
In corporate updates, Brookfield Corporation filed for a mixed shelf offering, not disclosing the size. The stock gained 68 cents, or 1.1%, early afternoon to $63.15.
Discovery Silver added a dollar in price, or 11.9%, to $9.40, and Endeavour Silver hiked $2.99, or 4.22%, to $74.17, the top gainers on the benchmark index.
On the economic schedule, Statistics Canada reported its industrial product price index increased 0.9% month over month in November and was up 6.1% year over year, while its raw materials price index increased 0.3% month over month and rose 6.4% year over year.
ON BAYSTREET
The TSX Venture Exchange barreled higher 17.44 points, or 1.8%, to 995.42.
All but two of the 12 TSX subgroups gained ground by high noon, with gold rocketing 3.5%, while materials climbed 2.9%, and energy rumbled 1.9%.
The two laggards were health-care, sagging 1.1%, while telecoms docked 0.4%.
ON WALLSTREET
The S&P 500 rose on Monday, spurred by a rise in technology shares, to start a shortened holiday week.
The Dow Jones Industrials hiked 261.07 points, to 48,395.96.
The much-broader index jumped 42.4 points to 6,876.96.
The NASDAQ leaped 139.16 points to 23,446.78.
Stocks linked to artificial intelligence offered a boost to the broader market. Nvidia shares moved higher by more than 1% after Reuters said the company is looking to begin shipments of its H200 chips to China by mid-February.
Meanwhile, Micron Technology and Oracle traded up around 2% each.
Wall Street is coming off a mixed week for the major averages. A late-week surge in tech stocks helped lift the S&P 500 and NASDAQ Composite to their third winning week in four, up 0.1% and 0.5%, respectively. The 30-stock Dow, which has outperformed this month, fell 0.7%, snapping a three-week winning streak.
However, investors are watching to see whether AI stocks can retain their leadership heading into the year-end, especially as investors rotate into cheaper parts of the market amid concerns about lofty tech valuations. There’s also doubt about whether a Santa Claus rally will materialize, as the S&P 500 struggles to hold a key technical level.
The New York Stock Exchange will close early on Wednesday at 1 p.m. ET on Christmas Eve and will be closed Thursday for Christmas Day.
Prices for the 10-year Treasury lost ground, raising yields to 4.16% from Friday’s 4.15%. Treasury prices and yields move in opposite directions.
Oil prices increased $1.32 to $57.84.
Gold prices spiked $85.80 to $4,473.10.
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