Canada’s main stock index hit a record high on Monday, helped by technology stocks, after President-elect Donald Trump’s nomination of hedge fund manager Scott Bessent as U.S. Treasury Secretary buoyed investor sentiment globally.
The TSX tallied 78.74 points to open Monday and the week at 25,523.02
The Canadian dollar was down 0.21 at 71.56 cents U.S.
TD Bank is preparing to install U.S. government-ordered monitors and moved to reassure employees it had enough resources to comply with laws prohibiting money laundering. TD shares gathered 60 cents to $79.11
ON BAYSTREET
The TSX Venture Exchange faded 1.55 points, or 1.2%, to 604.62
All but three of the 12 subgroups were higher, led by real-estate, ahead 1.6%, industrials, better by 1.1%, and consumer discretionary, up 0.8%.
The three laggards proved to be gold, down 3%, materials, withering 2%, and energy, dipping 0.6%.
ON WALLSTREET
The Dow Jones Industrial Average and S&P 500 touched new records on Monday as investors cheered President-elect Donald Trump’s choice for Treasury secretary and the shortened Thanksgiving trading week kicked off.
The 30-stock index rocketed 417.44 points, or 1%, to 44,722.10.
The much-broader index gathered 26.11 points to 5,995.45.
The NASDAQ Composite vaulted 63.05 points to 19,066.71.
Monday brought a broad market rally as investors cheered Trump’s plan to nominate Key Square Group founder Scott Bessent as Treasury secretary. More than 450 S&P 500 stocks traded higher in the session.
Bath & Body Works jumped more than 18% after besting expectations of analysts polled by LSEG on both lines. Nordstrom, Best Buy, CrowdStrike and Dell Technologies are among well-known companies posting earnings results on Tuesday.
Prices for the 10-year Treasury popped, lowering yields to 4.30% from Friday’s 4.42%. Treasury prices and yields move in opposite directions.
Oil prices flopped $1.38 to $69.86 U.S. a barrel.
Prices for gold swooned $76.40 an ounce to $2,635.90U.S.
