Equities north of the border resumed their upward journey Monday, as energy stocks rediscovered their mojo, and consumer stocks also pointed upward.
The TSX soared 121.56 points to close Monday at 19,104.48.
The Canadian dollar added 54 cents to 77.91 cents U.S.
Energy stocks ruled the roost Monday as Secure Energy Services acquired 42, or 7.2%, to $29.75, while Nuvei Corp. hiked 66 cents, or 6.8%, to $10.44.
Real-estate stocks also moved higher, as units of First Capital REIT triumphed 30 cents, or 2%, to $15.51, while units of H&R REIT moved up 23 cents, or 1.8%, to $13.30.
In consumer staples, Alimentation Couche-Tard jumped 85 cents, or 1.6%, to $54.46 while North West Company gathered 21 cents to $34.07.
Gold stocks, however, put a hold on growth as Kinross Gold shed 21 cents, or 5%, to $3.99, while New Gold gave back five cents to 5.4%, to 87 cents.
In techs, Sierra Wireless plummeted $3.04, or 9.8%, to $28.05, while Lightspeed Commerce let go of $1.83, or 7%, to $24.36.
In materials, Agnico Eagle Mines dipped $3.10, or 6%, while Silvercrest Metals lost 41 cents, or 5.4%, to $7.24.
The TSX Venture Exchange nicked higher by 0.32 points to 608.29.
Seven of the 12 TSX subgroups were positive, with energy jumping 3.4%, while real-estate and consumer staples each acquired 0.3%.
The five laggards were weighed most heavily by gold, dulling 5.6%, information technology, fading 1.8%, and materials, off 1.1%.
U.S. equities wavered on Monday, as traders braced for the busiest week of corporate earnings, as well as insights into further interest rate hikes from the Federal Reserve.
The Dow Jones Industrials acquired 90.75 points to finish Monday at 31,990.04.
The S&P 500 made its way higher 5.21 points to 3,969.72.
The NASDAQ dipped 51.45 points, to 11,782.67.
All three of the indexes are on track for their best month of the year.
Monday starts the final week of trading for the month of July — and perhaps the most important week of the summer — with the Fed meeting, GDP data and earnings from almost a third of the S&P 500 on deck.
Investors are still worried about the potential of an economic recession and are hoping this week’s news storm will help direct their expectations.
Tech stocks fell Monday on the heels of a warning by Snap, which reported disappointing earnings last week causing investors to worry about declining digital ad spending in the current economic climate.
Meta Platforms fell 1.5% and Amazon slipped by 1.1%. Apple, Microsoft and Alphabet ended slightly lower after cutting deeper losses.
Elsewhere, shares of Newmont Corporation slid 13.2% after the mining company reported a quarterly loss that was down nearly 41% from a year ago, hurt by a drop in gold prices.
Philips tumbled 7.2% after the Dutch medical equipment maker reported weaker-than-expected quarterly earnings, citing lockdowns in China and supply chain issues.
On the flip side, energy stocks were the best performing sector as oil prices rose. Marathon Oil and APA Corp each jumped about more than 6%.
Diamondback Energy, Occidental Petroleum, Devon Energy and Valero fell about 5% each. Chevron was the top gainer in the Dow, up 2.9%.
Treasury prices fell, raising yields to 2.81%, from Friday’s 2.76%. Treasury prices and yields move in opposite directions.
Oil prices grew $2.06 to $96.76 U.S. a barrel.
Gold prices dropped $9.10 to $1,718.30 U.S. an ounce.