The TSX bounced between gains and losses on Monday, only to settle higher as optimism surrounding a potential diplomatic resolution to the US-Iran conflict improved investor sentiment and encouraged risk-taking. Crude oil prices fell sharply after Washington and Tehran agreed to halt hostilities over the weekend, fuelling expectations that shipping traffic through Iran’s Strait of Hormuz could soon return to normal, or not.
Investors were also preparing for a pivotal week marked by earnings reports from some of the market’s largest technology companies and a closely watched Federal Reserve meeting. The days ahead are expected to test the major indexes as Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL), Meta (NASDAQ:META), and Microsoft (NASDAQ:MSFT) release quarterly results. These reports will help determine whether concerns about escalating artificial intelligence-related spending are eased or intensified following Alphabet’s (NASDAQ:GOOG) underwhelming results last week. The outcomes could have significant implications for semiconductor manufacturers, which have been among the primary beneficiaries of the AI investment boom.
| TSX | 35,568.14 | +199.04 |  |
| TSXV | 887.73 | +19.11 | |
| CSE | 154.26 | +0.99 | |
| DJIA | 52,210.08 | +262.83 | |
| NASDAQ | 24,932.08 | -43.74 |  |
| S&P 500 | 7,413.18 | +1.20 | |
The Canadian dollar traded for 70.81 cents US compared to 70.93 cents US on Friday.
US crude futures traded US$7.23 lower at US$82.08 a barrel, and the Brent contract lost US$8.95 to US$78.83 a barrel.
The price of gold was down US$9.54 to US$4,083.37.
In world markets, the Nikkei was up 320.04 points to ¥64,931.19, the Hang Seng was up 243.95 points to HK$25,207.18, the FTSE was up 45.52 points to ₤10,781.75, and the DAX was up 262.03 points to €25,361.03.