Canada’s TSX index closed higher on Monday thanks to large-cap gains, despite weakness in real estate and telecom stocks, as well as investor uncertainty about how to reconcile the economy’s first contraction of 2024 in November with future inflation. Top gainers include Payfare (80%), Tilray (15.16%) and Birchcliff Energy (7%).
Looking at U.S. markets, the S&P 500 and Nasdaq ended the trading day with gains thanks to support from Magnificent Seven stocks, including Meta (2.59%), NVIDIA (3.5%) and Tesla (1.92%).
The Canadian dollar traded for 69.47 cents U.S. compared to 69.61 cents U.S. on Friday.
U.S. crude futures traded US$0.08 higher to US$69.54 per barrel, and the Brent contract added US$0.31 to US$72.63 per barrel.
The price of gold was down by US$18.30 to US$2,626.80 per ounce.
In world markets, the Nikkei was up by 459.44 points to 39,161.34, the Hang Seng was up by 162.43 points to 19,883.13, the FTSE was up by 18.11 points to 8,102.72, and the DAX was down by 35.98 points to 19,848.77.
We’ll see you for the next @ the Bell update on January 2, 2025. Happy Holidays!
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(Top image, generated by AI: Adobe Stock)