Canada’s main stock index kicked off the week with a strong rally, reflecting gains seen on Wall Street. This surge followed media reports suggesting that the US might adopt a more moderate approach to new tariffs than initially anticipated. The financial, tech, and industrial sectors were the primary drivers of the TSX’s gains.
US markets also surged after reports indicated that President Donald Trump plans to delay some of the tariffs originally set for April 2nd. This news raised hopes that the US might avoid triggering a global trade war. According to The Wall Street Journal, the tariffs are expected to be more limited in scope and may exclude certain industry-specific duties, as cited by an administration official. Bloomberg News also reported that Trump would exempt some countries from the tariffs.
The Canadian dollar traded for 69.82 cents US compared to 69.69 cents US on Friday.
US crude futures traded $0.96 higher at US$69.24 a barrel, and the Brent contract rose $0.97 to US$73.13 a barrel.
The price of gold was down US$34.94 to US$3,006.13.
In world markets, the Nikkei was down 68.57 points to ¥37,608.49, the Hang Seng was up 215.84 points to HK$23,905.56, the FTSE down 8.78 points to ₤8,638.01, and the DAX was down 39.02 points to €22,852.66.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top image generated with AI.)