Baystreet.ca - Stocks in Toronto enjoyed much the same upward movement as their American cousins, as both countries closed in on their national holidays, as calendars neared the end of their second quarter. The TSX Composite Index spiked 241.23 points to conclude Monday at 21,796.20
The Canadian dollar improved 0.26 cents to 73.19 cents U.S. Among the 12 TSX subgroups, energy moved skyward the most, with Africa Oil grabbing 24 cents, or 10.3%, to $2.56, while Birchcliff Energy (TSX:BIR) popped 40 cents, or 6.8%, to $6.27. In real-estate, CT REIT jumped 56 cents, or 4.3%, to $13.44, while Choice Properties picked up 48 cents, or 3.9%, to $12.96. In utilities, Brookfield Renewable Partners shares grew $1.58, or 4.7%, to $35.09, while Brookfield Infra Partners spiked $1.49, or 4%, to $38.39. Tech stocks weighed things down, as Bitfarms docked 38 cents, or 9.4%, to $3.67, while Celestica (TSX:CLS) fell $3.42, or 4.5%, to $73.21.
ON BAYSTREET The TSX Venture Exchange fell 6.9 points to 563.81. All but one of 12 TSX subgroups were ahead on the day, as energy leaped 3.6%, while utilities hiked 2.2%, and real-estate jumped 1.9%.The lone dissenter was information technology, down 0.6%. ON WALLSTREET The Dow Jones Industrial Average climbed Monday as investors sold big technology names in favor into other sectors such as banks and energy.The 30-stock index came off its highs of the day, but still drubbed the breakeven level by 260.54 points to 39,410.87.
The S&P 500 faded 16.76 points to 5,447.86.The NASDAQ crumbled 192.5 points, or 1.1%, to 17,496.82.There are also a number of key company earnings this week, including FedEx (NYSE:FDX), Micron (NASDAQ:MU), Walgreens Boots Alliance (NASDAQ:WBA) and Nike (NYSE:NKE).Stocks are coming off a record-setting week, with the S&P 500 and NASDAQ notching fresh all-time highs.Investors will receive key inflation data this week in the form of May’s personal consumption expenditure data. The Federal Reserve’s preferred inflation gauge is set to be released Friday.
Prices for the 10-year Treasury strengthened, lowering yields 4.23% from Friday’s 4.26%. Treasury prices and yields move in opposite directions. Oil prices climbed 95 cents at $81.68 U.S. a barrel. Gold prices reclaimed $13.40 to $2,344.60