Canada’s primary stock index experienced a substantial hike in the late morning trading, largely owing to the robust performance of base metal stocks. Parallelly, U.S. stock markets too commenced the trading week on an upbeat note.
Amid vibrant trading activities, the S&P/TSX composite index rocketed up by 97.69 points, coming to rest at 20,172.34.
Trading on Wall street matched pace, revealing a bright canvas across various indices. The Dow Jones industrial average reported an ascent of 32.04 points, settling at 34,608.63. Meanwhile, the S&P 500 index saw a rise of 13.86 points, reaching 4,471.35. The Nasdaq composite too recorded an upward trend, with an impressive gain of 84.96 points and a final value of 13,846.49.
Currency trading also unfolded favourably for Canada with the Canadian dollar fetching 73.54 cents US, a slight increase from its previous close of 73.36 cents US on Friday.
However, the energy sector depicted a different trajectory. The October crude contract witnessed a dip of 10 cents, bringing it down to US$87.41 per barrel. Likewise, the October natural gas contract, although minimally, decreased to US$2.60 per mmBTU.
In contrast, the commodities market showcased a positive momentum. The December gold contract added US$2.60, reaching US$1,945.30 an ounce. Remarkably, the December copper contract too showed an incline of nine cents, fetching US$3.81 a pound.