Equities in Toronto rose Monday to new all-time high, lifted by gold and other metals, as the days dwindled down to Christmas.
The TSX accelerated 244.33 points to end the day at 32,000.10.
The Canadian dollar inched higher 0.22 cents to 72.72 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 $1.02 or 1.6%, to close at $63.49.
Gold stocks proved the rock stars of the day, with Alamos Gold soaring $2.54, or 4.8%, to $55.57.
Elsewhere among metals, Discovery Silver went skyward 76 cents, or 7.7%, to $9.05, while Ivanhoe Mines grew 86 cents, or 6%, to $15.40.
In energy issues, Tamarack Valley gained 16 cents, or 2.1%, to $7.79, while Prairiesky picked up 49 cents, or 1.8%, to $27.25.
Health-care stocks slid, as Curaleaf lost 30 cents, or 7.3%, to $3.84.
In telecoms, BCE skidded 28 cents to $31.25, while Rogers sank a penny to $50.50.
Consumer discretionary stocks took some knocks, as Magna International lost $1.41, or 1.9%, to $74.81, while Linamar hesitated $1.22, or 1.4%, to $84.39.
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 prospered 7.36 points to 985.34.
All but three of the 12 TSX subgroups gained ground on the session, with gold rocketing 2.7%, while materials climbed 2.3%, and energy rumbled 1%.
The three laggards were health-care, sagging 1.6%, telecoms, falling 0.3%, and consumer discretionary stocks, off 0.1%.
ON WALLSTREET
The S&P 500 rose on Monday, spurred by a rise in artificial intelligence names, to start a shortened holiday week.
The Dow Jones Industrials hiked 227.79 points, to 48,362.68.
The much-broader index jumped 43.99 points to 6,878.49.
The NASDAQ jumped 121.21 points to 23,428.83.
Key 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 grew around 4%, while Oracle advanced more than 3%.
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. 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 4.17% from Friday’s 4.15%. Treasury prices and yields move in opposite directions.
Oil prices increased $1.47 to $57.99.
Gold prices spiked $85.80 to $4,473.10.
