Canada’s main stock index followed markets around the globe on Monday and marched higher, recouping some losses from the dud of a week prior. Easing Middle East tensions lifted global markets but a sharp fall in commodity prices and weakness in resource stocks capped gains.
U.S. markets scored the first rebound session after last week’s pullback, which served as a good sign for the week to come, which will be full of earnings, specifically focusing on tech companies. Investors also expect to learn more from the GDP report coming Thursday and a key inflation reading due Friday.
The Canadian dollar traded for 72.97 cents compared with 72.72 cents U.S. on Friday.
U.S. crude futures traded $0.12 lower at $83.02 a barrel, and the Brent contract dropped $0.22 to $87.07 a barrel.
The price of gold was down US$57.77 to US$2,329.05.
In world markets, the Nikkei was up 370.26 points to 37,438.61, the Hang Seng was up 287.55 points to 16,511.69, the FTSE was up 128.02 points to 8,023.87, and the DAX was up 123.44 points to 17,860.80.
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