Canada’s main stock index moved slightly higher on Monday, as investors remained cautious ahead of several key developments—including US-Russia diplomatic talks, ongoing trade tensions, and crucial US inflation data expected later in the week.
Cannabis stocks rallied after The Wall Street Journal reported that President Donald Trump was considering reclassifying marijuana to a lower danger level. Canopy Growth (TSX:WEED) saw a 26 per cent gain on its NASDAQ listing while Aurora Cannabis (TSX:ACB) jumped 16 per cent on its NASDAQ profile.
Following a strong performance in US markets last week—where the NASDAQ reached a new high and the S&P 500 approached its own—stocks took a dive. Even so, the market is once again nearing record levels, with upcoming inflation reports likely to play a decisive role. The Consumer Price Index, due Tuesday, and the Producer Price Index, coming on Thursday, will help shape expectations around interest rate policy, especially in advance of the Federal Reserve’s September meeting.
| TSX | 27,775.23 | +16.55 |  |
| TSXV | 793.24 | +6.02 | |
| CSE | 157.63 | +14.85 | |
| DJIA | 43,975.09 | -200.52 |  |
| NASDAQ | 21,385.40 | -64.62 | |
| S&P 500 | 6,373.45 | -16.00 | |
The Canadian dollar traded for 72.58 cents US compared to 72.68 cents US on Friday.
US crude futures traded $0.15 higher at US$64.03 a barrel, and the Brent contract rose $0.11 to US$66.70 a barrel.
The price of gold was down US$45.63 to US$3,354.72.
In world markets, the Nikkei remained at ¥41,820.48, the Hang Seng was up 47.99 points to HK$24,906.81, the FTSE was up 32.66 points to ₤9,128.39, and the DAX was down 81.52 points to €24,081.34.
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