Metals prove mighty
Rising miners helped give the
The S&P/TSX composite index ballooned 120.88 points to close at 14,654.94
The Canadian dollar poked ahead
Base metal miners advanced after
Teck Resources climbed
On the merger-and-acquisition front, Botox-maker Allergan rejected the
It says the bid undervalues Allergan, isn't in the best interests of the U.S. company and creates risks and uncertainties for its shareholders. The
The gold sector gained as Barrick Gold added
The energy sector climbed while Imperial Oil added
All 14 Toronto subgroups were in the green Monday, with metals and mining spiking 3.9%, global base metals stronger by 3.4%, and materials gaining 1.4%.
Blue-chips jumped over 100 points to a record high Monday in intraday trading, and the S&P 500 was just shy of its record that was set in early April. The NASDAQ also got a nice bounce -- up over 1.5%.
The Dow Jones Industrial Average screamed ahead 112.13 points to end the day at 16,695.47
The S&P 500 gained 18.17 points to 1,896.65, and the NASDAQ composite index soared 71.99 points to 4,143.80
While investors have continued pouring into the perceived safety of blue-chip companies, tech stocks have been hammered as investors fret about sky-high valuations and in some cases not yet proven business models.
There was also a bit of that merger Monday feeling in the air, after Hillshire Brands announced plans to acquire rival Pinnacle Foods for
Investors are also on the lookout for another mega health care deal, of which there have been aplenty so far this year.
Pfizer shares rose slightly after the company published a letter to a parliamentary committee in the
The chief executives of both companies will be grilled by British lawmakers Tuesday and Wednesday, reflecting high levels of public anxiety over the impact of a takeover on jobs and scientific research in the
Gogo soared after the company beat earnings estimates. The in-flight Internet provider reported a narrower loss compared to a year earlier and said that its revenue climbed 35%.
With Monday's gains, J.C. Penney shares are now flat for 2014. They've made an impressive 60% run in the last three months, but are still down nearly 50% over the last year.
Investors will have more insight into the company's progress, or lack thereof, on Thursday when it reports earnings.
Ralph Lauren suffered after the iconic clothing company's stock was hit with an analyst downgrade. The stock has been sliding and is down more than 17% this year as it struggles to keep up with the competition.
Twitter was crawling back Monday with more than 5.5% bump after an analyst at
Prices for 10-year U.S. Treasuries stepped back, lifting yields to 2.66% from Friday's 2.62%. Treasury prices and yields move in opposite directions
Oil prices took on
Gold prices gained
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