Canada’s main stock index forged ahead on Monday, pulled ahead by resource stocks, as investors cast an eye toward Friday’s inflation data.
The TSX Composite regained 31.69 points to close Monday to 21,769.22.
The Canadian dollar poked up 0.02 cents at 74.17 cents U.S.
Gold put on the best show Monday, with New Gold climbing 20 cents, or 9.9%, to $2.23, while Kinross Gold popped 31 cents or 4.3%, to $7.56.
In materials, Silvercrest Metals gathered 81 cents, or 10.8%, to $8.28, while Lithium Americas zoomed 75 cents, or 10.5%, to$7.93.
Financials roared ahead, too, with Laurentian Bank gaining $1.03, or 3.8%, to $28.46, while Sprott Inc. improving 50 cents, or 1%, to $49.38.
Real-estate stocks went the other way, however, as FirstService units fell $3.10, or 1.4%, to $222.45, while First Capital REIT units lost 17 cents, or 1.1%, to $15.79.
In tech issues, Bitfarms shares were pounded 37 cents, or 10.3%, to $3.22, while HUT 8 Mining bumbled $1.10, or 10.3%, to $9.60.
Health-care stocks were roughed up as well, as Tilray forked over three cents, or 1.3%, to $2.27, while Bausch Health Companies lost 16 cents, or 1.3%, to $12.30.
ON BAYSTREET
The TSX Venture Exchange crumbled 16.4 points, or 2.9%, to 559.34.
Seven of the 12 subgroups moved into sunlight Monday, with gold better by 2.1%, materials stronger 0.9%, and financials richer 0.4%.
The five laggards were weighed most by real-estate and information technology each down 0.6%, and health-care, sinking 0.4%.
ON WALLSTREET
The S&P 500 slipped on Monday as the rally that brought the major averages to record highs cooled off. Investors also looked ahead to fresh U.S. inflation data.
The Dow Jones Industrials recovered 50.87 points to conclude Monday at 38,769.66.
The broader index slid 5.75 points to 5,117.94.
The NASDAQ slumped 65.84 points to 16,019.27.
Monday’s action follows a losing week for the major averages, pulling the S&P 500 and NASDAQ off all-time highs. Notably, the 30-stock Dow recorded its worst weekly performance since October.
Information technology stock Super Micro Computer dropped more than 5%, while chipmaker Nvidia fell 2%. Both moves come as investors question if stocks tied to artificial intelligence have more room to run after monster rallies.
Meta also struggled, with the Facebook parent tumbling 4.4%. Outside of tech, pharmaceutical stock Eli Lilly dropped more than 3%.
Traders are preparing for February’s consumer and producer price indexes — which are set to release Tuesday and Thursday, respectively. These are among the last major economic reports before Federal Reserve leaders convene for their March policy meeting.
Prices for the 10-year Treasury lost ground, raising yields to 4.10% from Friday’s 4.08%. Treasury prices and yields move in opposite directions.
Oil prices inched up seven cents to $78.08 U.S. a barrel.
Gold prices added two dollars to $2,187.50.
