Canadian equities moved higher on Monday, supported by stronger gold prices, while declining oil prices eased inflation concerns after recently reaching six-month highs. Markets were also watching trade developments after President Donald Trump expressed confidence that the trade dispute between Canada and the US would be resolved in the near term.
US stocks edged upward as falling oil prices provided support following a weak week for the S&P 500 and NASDAQ. Concerns surrounding the AI sector continued to weigh on sentiment, particularly among neocloud companies, as investors questioned the sustainability of debt-fuelled expansion plans. The sector extended its losses after Elon Musk suggested that more than 200 neocloud firms may not survive, briefly pushing shares of Nebius (NASDAQ:NBIS), Core Weave (NASDAQ:CRWV), and Iren (NASDAQ:IREN) lower.
| TSX | 35,944.16 | +155.98 |  |
| TSXV | 825.28 | +4.33 | |
| CSE | 137.55 | +1.00 | |
| DJIA | 52,361.58 | +146.42 | |
| NASDAQ | 26,169.38 | +214.04 | |
| S&P 500 | 7,676.77 | +53.09 | |
The Canadian dollar traded for 71.31 cents US compared to 71.44 cents US on Friday.
US crude futures traded $0.87 lower at US$102.40 a barrel, and the Brent contract lost $0.26 to US$116.50 a barrel.
The price of gold was up US$13.41 to US$4,011.19.
In world markets, the Nikkei was down 503.51 points to ¥62,189.65, the Hang Seng was up 118.44 points to HK$23,211.81, the FTSE was up 75.09 points to ₤10,765.45, and the DAX was up 270.12 points to €25,451.77.
