Stock Market: Toronto posted its best session in a month

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Market review. All three NYSE indices closed sharply higher on Monday, buoyed by positive news about vaccines and progress on the US support plan for Congress.

The Toronto benchmark index made its best session in a month on Monday as several sectors were pulled higher amid declining bond yields.


In Toronto, Prof. S & P / TSX It rose 239 points, or 1.33%, to 18,299.

In New York, Prof. Standard & Poor’s 500 An advance of 90 points, or 2.38%, to 3901 points.

The Dow Jones It jumped 603 points, or 1.95%, to 31,535 points.

The Nasdaq It increased 396 points, or 3.01%, to 13,588 points.

The Canadian dollar rose 0.82% to $ 0.7907.

Oil fell $ 1.16, or 1.89%, to $ 60.34.

Gold was capped at $ 5.40, or 0.31%, to $ 1,723.40.


“Last week, everyone was a little scared for technical reasons related to inflation,” Gregory Volokin of Meeschaert Financial Services summed up, recalling how rising bond prices caused markets to jitter.

“Today, it is completely forgotten, because we are now focusing more on the prospects for the Johnson & Johnson vaccine and accelerating the vaccination process in the United States,” the analyst said.

At the close of Wall Street on Monday, the price of 10-year Treasuries was hovering around 1.42% after peaking at 1.60% last week, driven by concerns over economic overheating that could revive inflation.

The announcement before the weekend of getting the green light from medical regulatory authorities in the United States to obtain a single dose of the anti-virus vaccine from Johnson & Johnson reinforced “optimism about a strong economic recovery in the second half of 2021,” Schwab.

This US vaccine must also be approved by the European Medicines Agency in early March, and distributed from late March or early April. the event J&J Gained 0.59% from Pfizer + 0.63% and Modern + 1.67%.

Investors were also reassured by a good manufacturing index. The sector activity index, created by the ISM, in February showed an increase of 2.1 points to 60.8%, above expectations.

Finally, according to Gregori Volokhine, Joe Bien’s massive $ 1900 billion support plan is “coming true”.

He pointed out that “we do not see now what can stop him” while it must be voted in the Senate this week, which was approved by the House of Representatives at the time “to be on the office of Joe Biden before March 14,” the date that ends the extension of unemployment benefits. The expert from Meeschaert Financial Services.

Securities from the traditional economy, sensitive to a return to normal activity, such as airlines or cruise lines, have made significant progress, such as American Airlines (+ 1,15%), United Airlines (+ 1,20%), Norwegian cruise (+ 0,98%).

Boeing Increased 5.84% after receiving an order for 25 737 MAX jets from United Airlines.

Among the tech greats, Apple, city, cat 5.39% gain The social networking site Facebook 2,83%.

Gregory Volokin noted that “it must also be said that it is the first day of the month, when a lot of new money entered the market.”

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