Stocks Start Week on Right Foot

Equities in Canada’s largest market enjoyed respectable gains to begin the month’s last week, carried largely by advances in health care plays.

The TSX climbed 68.23 points to end Monday at 19,170.56.

The Canadian dollar gained 0.58 cents to 80.66 cents U.S.

Among health-care stocks, Aurinia Pharmaceuticals gathered 65 cents, or 4.2{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, to finish at $16.24, while Aphria picked up 57 cents, or 3.2{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, to $18.24.

Tech stocks enjoyed themselves, too, with Hut 8 Mining galloping 94 cents, or 14.3{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, to $7.51, while Dye & Durham improved $2.89, or 7.1{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, to $43.59.

In energy, PrairieSky Royalty jumped 29 cents, or 2.3{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, to $12.87, while Tourmaline Oil gained 45 cents, or 1.9{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, to $24.57.

Gold shares dulled in price somewhat, with Iamgold down four cents, or 1{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, to $4.13, while NovaGold gave back 33 cents, or 2.8{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, to $11.67.

In the consumer staples field, SunOpta docked 97 cents, or 5.9{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, to $15.62, while Primo Water ditched 26 cents, or 1.2{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, to $20.99.

Real-estate stocks also lost ground, with Colliers International Group off $3.02, or 2.3{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, to $130.22, while Interrent REIT let go of 30 cents, or 1.9{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, to $15.30.

ON BAYSTREET

The TSX Venture Exchange added 12.76 points, or 1.4{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, to 943.39.

Seven of the 12 TSX subgroups were higher, led by health-care, up 1.7{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, information technology, ahead 1.4{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, and energy, advancing 0.5{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}.

The five laggards were weighed most by gold, sliding 1{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, consumer staples, off 0.4{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}, and real-estate, 0.3{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29} to the bad.

ON WALLSTREET

The S&P 500 rose slightly to a new record high on Monday as investors geared up for one of the busiest weeks of the first-quarter earnings season.

The Dow Jones Industrials moved lower 61.92 points to 33,981.57, dragged down by Procter & Gamble, Walmart and Coca Cola. The consumer staples sector was the biggest loser Monday, falling more than 1{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}.

The S&P 500 gained 7.45 points to 4,187.62.

The NASDAQ Composite leaped 121.97 points to 14,138.78, hitting its first fresh record close since Feb. 12.

Bank of America data showed the number of “inflation” mentions during earnings calls this reporting season has tripled compared to last year, the biggest jump since 2004 when the bank started tracking the number.

With the global economy gradually reopening, firms like Boeing, Ford and Caterpillar are expected to note cost pressures they are facing from rising materials and transportation prices when they report earnings this week.

Tesla shares climbed more than 1{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29} ahead of the electric carmaker’s earnings report after the bell Monday.

About a third of the S&P 500 this week is set to update investors on how their businesses fared during the three months ended March 31. Some of the largest tech companies in the world are scheduled to report results this week, including Apple, Microsoft, Amazon and Alphabet.

Corporations have for the most part managed to beat Wall Street’s forecasts thus far into earnings season. With 25{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29} of the companies in the S&P 500 reporting first-quarter results, 84{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29} have reported a positive per-share earnings surprise and 77{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29} have topped revenue estimates.

The decline in consumer companies came amid surging commodity prices, which fueled fears of inflation. Corn futures hit their highest level in more than seven years in volatile trading, while copper climbed to its highest level in nearly a decade. Commodities are a big portion of costs for consumer staples.

Investors are due for a busy week ahead between a Federal Reserve meeting, the debut of President Joe Biden’s “American Families Plan,” more inflation data and a torrent of corporate earnings reports.

About a third of the S&P 500 this week is set to update investors on how their businesses fared during the three months ended March 31.

Some of the largest tech companies in the world are scheduled to report results this week, including Apple, Microsoft, Amazon and Alphabet.

With the global economy gradually reopening, firms like Boeing, Ford and Caterpillar are expected to note cost pressures they are facing from rising materials and transportation prices.

Corporations have for the most part managed to beat Wall Street’s forecasts thus far into earnings season. With 25{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29} of the companies in the S&P 500 reporting first-quarter results, 84{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29} have reported a positive per-share earnings surprise and 77{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29} have topped revenue estimates.

Data out Monday showed new orders for capital goods rebounded less than expected in March. The Commerce Department said orders for non-defense capital goods excluding aircraft rose 0.9{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29} last month, missing Dow Jones estimates of a 2.2{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29} increase.

Prices for 10-Year Treasurys were lower, raising yields to 1.57{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29} from Friday’s 1.56{fde03d2f1c3ee029f0b86461a3e50e9d647f04138057fbe6f119870871f02d29}. Treasury prices and yields move in opposite directions.

Oil prices sank 19 cents to $61.95 U.S. a barrel.

Gold prices brightened $3.40 to $1,781.20 U.S. an ounce.

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