Business & Investment

TSX draws more positives from hats

Stocks in Canada’s largest market rose steadily on Monday, albeit unobtrusively. This is mainly supported by the power of the technology field.

TSX Composite has regained 57.27 points by near 20,985.37.

Canadian dollar fell 0.43 cents to 80.78 cents US

Techs pointed out how to win subgroups, with Constellation Software up $ 57.21 (2.6%) to $ 2,222.38 and Shopify up $ 43.27 (2.5%) to $ 1,806.64.

In the industrial sector, WSP Global rose $ 3.09 (1.9%) to $ 166.34 and Russell Metal rose 53 cents (1.6%) to $ 33.53 in the positive column.

In consumer staple foods, Premium Brand Holdings rose $ 1.58 (1.2%) to $ 133.02 and Robrow Companies rose 95 cents (1%) to $ 93.11.

However, energy did not reduce its weight, as birch cliff energy was down 22 cents (3.2%) to $ 6.68 and tourmaline oil was down $ 1.24 (2.8%) to $ 42.92.

In the healthcare sector, Organigram Holdings fell 6 cents (2.2%) to $ 2.72 and Cronos Group fell 12 cents (1.8%) to $ 6.65.

Gold was also punished, especially New Gold, down 8 cents (4.7%) to $ 1.61, while Nova Gold was down 29 cents (3.1%) to $ 9.16.

Statistics Canada reported in its economic calendar that foreign investors acquired $ 26.3 billion in Canadian securities, primarily in the form of debt securities, in August. At the same time, Canadian investors resumed buying foreign securities, adding $ 15.2 billion worth to their portfolio in August.

In addition, Canada Mortgage and Housing Corporation told investors that mortgage starts fell from 262,800 in August to 251,200 in September.

Prime Minister Justin Trudeau’s latest minority government is set to impose high taxes on Canadians. This helps to fund the promises of some campaigns, but not large enough to begin repayment of the country’s record-level debt, making Canada against the next economic crisis. And leave it vulnerable.

On Bay Street

The TSX Venture Exchange recorded 937.81, up 0.14 points.

Seven of the 12 TSX subgroups were low on Monday, with energy savings down 1.2%, health care skids down 1% and gold inventories down 0.6%.

The five winners saw a 0.9% surge in information technology, a 0.6% increase in industry, and a 0.5% increase in consumer staple foods.

On Wall Street

Investors bet on the continuation of strong earnings reports from big companies, and stock prices rebounded on Monday after falling. Tesla and Netflix profited earlier this week ahead of the third quarter report.

The 30 Dow Jones Industrial Averages fell 36.15 points to 35,258.61.

The S & P 500 rose 15.09 points to 4,486.46.

The Nasdaq Composite Index rose 124.47 points to 15,021.81.

To date, 41 S & P 500 components have reported third-quarter results, 80% of which are above EPS expectations. Considering the companies already reported and the remaining estimates, the profit growth rate for the third quarter totaled 30%, the third highest quarterly growth rate for S & P 500 companies since 2010.

Many celebrities will report last week, including Tuesday’s Netflix, Johnson & Johnson, United Airlines, Procter & Gamble and more. Tesla, Verizon and IBM are among the other names in this week’s deck.

Disney’s stock fell by more than 3% after Barclays downgraded its stock and predicted slowing growth for streaming subscribers.

Some things dented my emotions on Monday. Overnight, China reported disappointment in GDP, with annual growth of 4.9% in the third quarter. This fell short of the 5.3% growth expected by economists surveyed by Reuters. China’s industrial production last month was also lower than expected.

US industrial production also fell in September, down almost 1.28% to its lowest level since February, down 3.02%.

Prices of 10-year government bonds have fallen to some extent, with yields rising from 1.58% on Friday to 1.59%. Treasury prices and yields move in the opposite direction.

Oil prices rose 7 cents to US $ 82.35 a barrel.

Gold prices have settled from $ 32.40 to $ 1,764.80 per ounce.

S & P, NASDAQ profit for 4 consecutive days

TSX draws more positives from hats TSX draws more positives from hats

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