Canada’s main stock index came out of the long weekend in a similar position to where it entered with minimal gains for the TSX. The energy sector was the big gainer as Iran and Israel traded missiles at one another or proxies, fully igniting a long-simmering conflict in the oil-rich Middle East. The index rose 2.8 per cent for September, while it was up 9.7 per cent in Q3 2024.
The Dow Jones Industrial Average set new closing records in the last session, marking the end of both the trading month and quarter. All three major U.S. indices recorded monthly gains, with the S&P 500 experiencing its first positive September since 2019. The S&P, Dow and Nasdaq all finished Q3 2024 in positive territory. Historically, September is the worst month for stocks, but this year it defied expectations.
The Canadian dollar traded for 74.10 cents U.S. compared with 73.99 cents U.S. on Friday.
U.S. crude futures traded $2.52 higher at $70.69 a barrel, and the Brent contract rose $2.60 to $74.30 a barrel.
The price of gold was up US$24.84 to US$ 2,660.07.
In world markets, the Nikkei was up 732.42 points to 38,651.97, the Hang Seng was up 501.38 points to 21,133.68, the FTSE was up 37.10 points to 8,274.05, but the DAX was down 124.75 points to 19,200.18.
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(Top image generated with AI)