TORONTO — Strength in the energy, technology and base metal sectors helped Canada’s main stock index post a small gain on Monday, while U.S. stock markets also rose.
The S&P/TSX composite index closed up 62.76 points at 22,069.76.
In New York, the Dow Jones industrial average was up 69.05 points at 38,868.04. The S&P 500 index was up 13.80 points at 5,360.79, while the Nasdaq composite was up 59.40 points at 17,192.53.
The TSX benefitted Monday from a rally in oil prices as they recovered from a recent pullback over concerns about demand, said Angelo Kourkafas, senior investment strategist at Edward Jones.
“As we head into the summer months, demand looks to be holding up. We’re not seeing any major downshift in economic activity,” he said.
Last week’s interest rate cut by the Bank of Canada was a positive sign for investors that a soft landing is increasingly likely, said Kourkafas.
U.S. markets were muted ahead of a big week,…
