TSX Tests New High For 2nd Straight Day, Trillium Top Gainer

Follow us on Google News:
 TSX Tests New High For 2nd Straight Day, Trillium Top Gainer
Image source: Copyright © 2021 Kalkine Media Pty Ltd.

The broader Canadian benchmark index tested a new record high of 20,067.19 on Monday, June 7, settling higher for the second straight day.


The S&P/TSX Composite climbed by 0.03%, or 6.1 points, on Monday, supported by a rally in the healthcare, telecom and utilities stocks.

Gains, however, were offset by weakness in the energy and financials sectors.

1-Year Price Chart (as on June 07, 2021). Source: Refinitiv

On the macroeconomic front, a tapering of monetary stimulus is expected to be discussed in the US Federal Reserves meeting scheduled for next week, although no action is foreseen before year-end.

The Bank of Canada, on the other hand, is likely to maintain its tapering of bond purchases for now, especially after the May jobs report released on Friday.

Actively Traded Stocks

BCE Inc was the most actively traded stock on TSX on Monday, with a volume of 19.07 million, followed by BlackBerry Limited, with 15.9 million shares, and Suncor Energy Inc, with 15.2 million shares.

Wall Street Update

Washington lawmakers are redoubling efforts to create a bipartisan infrastructure spending package, and Democrats are expected to vote on the bill on Wednesday.

The Dow and S&P 500 ended a sluggish session in red on Monday, as investors stayed alert for news of a worldwide minimum corporate tax rate.

The Dow Jones Industrial Average shed 126.15 points to close at 34,630, while the S&P 500 closed flat at 4,227. The Nasdaq Composite Index ended at 13,882 with a gain of 67.23 points.

Commodity Update

Gold traded at US$ 1,898.80, up 0.38%.

Crude prices eased some gain as Brent Oil traded lower at US$ 71.49/bbl, while WTI Crude Oil slipped 0.70% to US$ 69.23/bbl.

Currency News

On Monday, June 7, the Canadian Dollar ended in red against the US greenback, with USD/CAD climbing 0.02% to close at 1.2079.

The US Dollar Index declined against the basket of major currencies on Monday, down 0.17% to close at 89.99.

Money Market

The US 10-year bond yield ended flat on Monday at 1.569, with no change from the previous closing.

The Canada 10-year bond yield gained 1.44% to 1.447, following a 4.21% dip in the previous trading session.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK