Energy lags, gold shines
The S&P/TSX composite index pointed up 7.68 points to end the day at 13,794.18
The Canadian dollar docked
The TSX gold sector ran ahead as Yamana Gold shares climbed
The base metals sector was up with March copper down
The energy sector lost ground as Imperial Oil docked
On the corporate front, International Forest Products Ltd. shares jumped
HudBay Minerals Inc. is out to acquire all the shares of
August's prime asset is its
On matters economic, figures released by
The agency estimates there were 11,737 actual starts in January and that is extrapolated out to a seasonally-adjusted annual rate of 180,248, down from 187,144 in December.
Seven of the 14 Toronto subgroups were down on the day, as energy lost 0.7% of its strength, consumer discretionary backpedaled 0.5%, and consumer staples slid 0.3%.
The half-dozen gainers were led by gold, up 3.1%, materials, up 1.6%, and health-care, up 0.5%. Global base metal stocks ended the day unchanged.
Stocks tiptoed higher Monday as investors await testimony from the new U.S. Federal Reserve chair.
The Dow Jones Industrial Average recovered 7.71 points to 15,801.79.
The S&P 500 index nicked up 2.82 points to 1,799.84. The NASDAQ added 22.31 points to 4,148.17.
Shares of Apple rose after hedge fund manager
Icahn has been pushing Apple to use its cash to buy back more of its own stock. But Icahn said in a letter to Apple shareholders Monday that he now sees no reason to pursue a fight with Apple in light of the company's recent "opportunistic" and "aggressive" share purchases.
Apple's strength came amid weakness in Google shares, which have been on a tear recently. Google was flat Monday, but the stock has gained more than 30% in the past six months.
Tesla shares rose to an all-time high after the Chinese government announced plans to extend subsides for electric cars. Investors are also gearing up for Tesla's next earnings report later this month. Some traders believe the stock will continue moving higher in the near term.
The news of the extended subsides, which are part of
Toy maker Hasbro missed on earnings expectations but the company increased its dividend. Shares rose in early trading. The reaction to Hasbro's results was a big contrast to how investors treated rival Mattel after it reported weak holiday sales last month. Mattel plunged on that news.
Yelp shares rose on reports the online review site will partner with Yahoo to incorporate reviews in Yahoo's search engine's results.
Investors proved reluctant to make any big moves before Tuesday's Congressional testimony by
Investors will be watching to see if she sheds any light on plans to further taper, or slow down, the Fed's stimulus program.
Prices for 10-year U.S. Treasuries were unchanged Monday, keeping yields at Friday's 2.68%.
Oil prices eked up
Gold prices rose
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