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Canada’s major stock index rose more than 200 points on Monday, supported by gains in technology and mining stocks. US markets also moved higher, pushing the S&P/TSX Composite Index to 36,009.40, up by 202.75 points, or 0.57%.
The advance came as technology stocks led gains in Canada, with strength in base metals and financial shares also supporting the index. Information technology gained 3.0%, while base metals rose 1.6% and financial stocks added 1.4%. Energy and telecommunications shares moved lower.
The Canadian market rose despite a decline in oil prices, which weighed on energy stocks. The energy sector fell 2.5% during the session, while telecommunications stocks declined 1%.
The TSX had closed at 35,804.86 on Friday before recovering on Monday. The index opened almost flat at 35,795.38 before moving higher during the session.
In New York, the Dow Jones Industrial Average rose 366.19 points, or 0.7%, to 52,048.83. The S&P 500 gained 114.20 points, or 1.5%, to 7,764.70, while the NASDAQ Composite climbed 599.55 points, or 2.3%, to 27,122.09.
US stocks benefited from lower oil prices and falling Treasury yields. The S&P 500 moved within 0.4% of its record high, while semiconductor stocks helped drive gains in the NASDAQ.
Also Read: Wall Street Futures Rise as Oil Falls Below USD 100 Ahead of US-Iran Talks
The November crude oil contract fell USD 3.71 to USD 92.37 per barrel. The December gold contract declined USD 41 to USD 4,383.90 an ounce.
Oil prices fell as investors assessed signs of possible diplomatic progress between the US and Iran, along with indications of recovering Saudi oil shipments. The decline pressured Canadian energy stocks, although gains in other sectors more than offset those losses.
The Canadian dollar traded at 71.32 US cents, compared with 71.42 US cents on Friday.
The market moves came as investors also monitored comments from Bank of Canada Governor Tiff Macklem and fresh US-Canada trade tensions for clues about the economic outlook and interest-rate path.
