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The Canadian stocks are hovering in steep bullsh zone as the benchmark index, TSX Composite, surged higher for the sixth straight day. The index added approximatelly 6% in the past six trading session and traded 1.05% higher on Monday to close at 18,330.26.
The rally was led by surge in the Healthcare sector, which went up 5.64%, followed by metals and mining and energy sectors, up 2.86% and 1.98%, respectively.
Utilities was the only constituent sector that traded in red, down 0.07%.
S&P/TSX Composite Index 5-day Price Chart. Source: EODHD/Others (Thomson Reuters)
Meanwhile, bitcoin touched another new high of US$ 44,500 after Elon Musk’s Tesla announced US$1.5 billion investment in the cryptocurrency. Other tokens such as Dogecoin and Ether also rallied alongside.
Top Movers on TSX Composite: Aurora Cannabis Inc (up 15.8%), Aphria Inc (up 13.5%), and Westshore Terminals Investment Corp (up 12.9%).
Top Laggards on TSX Composite: Canada Goose Holdings Inc (down 4.7%), GFL Environmental Inc (down 3.5%), Canfor Corp (down 2.2%).
Top Active Stocks: Zenabis Global Inc., Enbridge Inc. and NextSource Materials Inc.
On Wall Street: The upsurge continued for all three major indices of the United States. Dow Jones Industrials surged 0.76% to 31,385.76 while the S&P 500 index added 0.74% to 3,915.59. The technology benchmark index Nasdaq Composite index moved 0.95% to 13,987.64.
Commodity Update*
The Crude WTI traded up for the seventh consecutive day and added 1.97% higher at $ 57.97/bbl, the Brent oil traded 2.06% higher at $60.56/bbl, respectively.
Gold moved 1.17% higher on Monday and settled at $1,834.20/oz.
Bond Yield*
The Yield on the Canada 10-Year Government Bond surged 1.45% to 1.013% respectively.
US 10-Year Treasury Bond Yield increased slightly by 0.15% to 1.176%.
Forex Update*
Currency pair USD/CAD was down 0.10% at 1.2738.
*Details post market close on Feb 8, 2021
