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Stockhouse @ the Bell: TSX kicks off week with broad rally

Stockhouse Editorial
0 Comments| April 1, 2019


Building upon a quarterly performance not seen since 2010, global stocks rallied higher on Monday, after positive data on Chinese and American factory activity, coupled with signs of progress on trade talks between those two countries. Meanwhile, a broad-based rally helped push Canada’s main stock index higher on Monday. The energy sector was up 1.8% as oil prices hit yearly highs while financials rose 1.4%. However, data showed the Canadian manufacturing sector grew at the slowest pace in two and a half years in March. Bank of Canada Governor Stephen Poloz stated that the period of slow growth will be temporary, adding that the economic outlook continues to warrant an interest rate below the neutral range. The S&P 500 closed at its highest level since October 2018, while the Dow gained the most since February 2019.
 
The S&P/TSX Composite Index was up 125.97 points to 16,228.06, and the TSX Venture Exchange was down 0.70 points to 626.19.
 
The Canadian dollar was up $0.0017, remaining at 75 cents.
 
Crude oil prices were up $1.52 to $61.65.
 
The price of gold was down $4.49 to $1,309.08.
 
In U.S. markets; the Dow rallied 329.74 points to 26,258.42, the S&P 500 added 32.79 points to 2,867.19, and the NASDAQ grew 99.59 points to 7,828.91.
 
In world markets; the Nikkei jumped 307.56 points to 21,502.03, the Hang Seng surged 519.64 points to 29,562.02, the FTSE increased 38.39 points to 7,317.38, and the DAX was up 158.06 points to 11,681.99.



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