Dollar General at forefront of rally
The S&P/TSX composite index gained 34.23 points to close Monday at 15,338.47. The
The Canadian dollar was even on the day at
The biggest gainer on the day was in information technology, where BlackBerry muscled higher by 1.6% to
Financials, the index's most heavily weighted sector, added strength, with Royal Bank of Canada climbing 0.7% to
Shares of industrial companies also moved up as Air Canada jumped 5.9% to
The gold-mining sector recovered lost ground, as the price of bullion dipped. Barrick Gold eked up 0.1% to
Fears of a broader regional conflagration over
Even so, investors remained unsettled when
On the economic beat, Statistics Canada reported this morning that foreign investors reduced their holdings of Canadian securities by
Meanwhile, Canadian investors added
All but three of the 14 Toronto subgroups were higher, with information technology soaring 0.8%, while materials and industrials strengthened 0.6% each.
The three laggards were health-care and energy, each down 0.4%, and telecoms, off 0.1%.
U.S. stocks rose, extending the biggest weekly gain since July for the Standard & Poor's 500 Index, as tensions eased over global conflicts and Dollar General Corp. rallied on merger activity.
The Dow Jones Industrials jumped 175.83 points, or 1%, to finish Monday at 16,838.64
The S&P 500 added 16.67 points to 1,971.13. The NASDAQ composite popped 43.38 points – or 1% -- to 4,508.31, a new high for the year and a level last seen in
Dollar General surged 12% after offering
Clothing retailer Urban Outfitters Inc. is reporting earnings today. Of the S&P 500 companies that have reported quarterly results this season, 76% have topped earnings estimates, while 65% exceeded sales projections, according to data compiled by
Homebuilders rose as confidence in the industry climbed to the highest level in seven months. Internet and biotechnology stocks rallied, continuing to pare losses from earlier this year.
On the economic front, the NAHB/Wells Fargo Housing Market Index for August came in at 55, its highest level in seven months. Economists had expected a reading of 53.
Prices for 10-year U.S. Treasuries sagged, raising yields to 2.39% from Friday's 2.35%. Treasury prices and yields move in opposite directions.
Oil prices slumped
Gold prices plummeted
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