Supported by metal prices, Canada’s main stock index rose on Monday as traders look forward to this week’s domestic inflation data. The energy market led the leaders on the TSX while health care and utilities losses capped gains. Consumer price index data due this week could offer some insight on the Bank of Canada’s next move at its policy meeting next month.
US markets were split as Wall Street awaits major earnings reports this week. The NASDAQ rose on support from the tech sector, such as AI heavyweight Nvidia’s (NASDAQ:NVDA) quarterly earnings coming this week. Tesla (NASDAQ:TSLA) stock rallied after a media report stated that the incoming President is working on ways to ease regulation on self-driving vehicles.
The Canadian dollar traded for 71.33 cents US compared to 70.96 cents US on Friday.
US crude futures traded US$2.07 higher at US$69.09 a barrel, and the Brent contract added US$2.25 to US$73.29 a barrel.
The price of gold was up US$46.51 to US$2,610.77.
In world markets, the Nikkei was down 422.06 points to 38,220.85, the Hang Seng was up 150.27 points to 19,576.61, the FTSE was up 45.71 points to 8,109.32, and the DAX was down 21.62 points to 19,189.19.
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(Top image generated with AI)