Stocks on both sides of the border shook off the fear they’d taken on for last week or so, and roared ahead, with all sectors able to flex their muscles.
The S&P/TSX Composite popped 227.83 points, or 1.1%, to conclude Monday at 20,861.10
The Canadian dollar gained 0.34 cents at 78.35 cents U.S.
Energy ruled the day Monday, with Crescent Point Energy up 50 cents, or 9%, to $6.19, while MEG Energy triumphed 66 cents, or 6.1%, to $11.45.
Among consumer discretionary stocks, BRP Inc. jumped $3.46, or 3.6%, to $100.75, while MTY Food Group powered $2.04 higher, or 3.6%, to $57.84.
In health-care, Cronos Group increased 15 cents, or 2.8%, to $5.49, while Sierra Senior Living gathered 35 cents, or 2.5%, to $14.16.
ON BAYSTREET
The TSX Venture Exchange fought its way into the green 0.57 points to close at 897.70.
All 12 TSX subgroups gained ground Monday, with energy rumbling 2.8% consumer discretionary stocks roaring 2.4%, and higher and health-care up 2%.
ON WALLSTREET
Stocks rallied to start to the week Monday, with the Dow Jones Industrials erasing their losses from the previous weeks, as investors shook off fears around the emerging threat of the omicron variant of COVID-19.
The 30-stock index screamed higher 646.95 points, or 1.9%, to conclude a triumphant Monday at 35,227.03
The S&P 500 index sprang 53.24 points, or 1.2%, to 4,591.67.
The NASDAQ leaped 139.68 points at 15,225.15.
Still, among key NASDAQ components, Moderna, the biggest decliner in the index, fell 15%. AMD was off by 4%, and Nvidia ditched 3% and Peloton was down 4%. Tesla also fell, by about 2%.
Stocks linked to the reopening of the economy gained, boosting sentiment on the Dow. General Electric and Boeing each gained 3%. Chevron and Caterpillar added more than 1%.
Leisure and hospitality stocks saw the biggest advances. United Airlines jumped 8% and American rose 7%. Major cruise lines gained between 10% and 11%. Shares of Wynn Resorts climbed 8% while Marriott and Hilton rose 4% and 3%, respectively. Travel booking stock Expedia added nearly 8%, and Booking Holdings rose 6%.
Microstrategy fell 5% Monday and shares of Block, recently renamed from Square, fell more than 1%. Coinbase shares were lower too, although they reclaimed deeper declines from earlier in the day.
Prices for 10-year Treasurys fell sharply backward, raising yields to 1.44% from Friday’s 1.36%. Treasury prices and yields move in opposite directions.
Oil prices jumped $3.61 to $69.87 U.S. a barrel.
Gold prices fell $4.20 to $1,779.70 U.S. an ounce.
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