Shares of Leucadia National Corp jumped 11.6 per cent after the company said it would sell most of its non-financial assets to focus on investment banking and advisory services.ĭeclining issues outnumbered advancing ones on the NYSE by a 1.10-to-1 ratio on Nasdaq, a 1.13-to-1 ratio favored advancers. Merck shares rose 5.2 per cent after the drugmaker’s blockbuster cancer drug, Keytruda, met the main study goal of helping previously untreated lung cancer patients live longer. The Dow Jones Industrial Average rose 46.34 points, or 0.19 per cent, to 23,979.10, the S&P 500 gained 8.69 points, or 0.33 per cent, to 2,613.16 and the Nasdaq Composite added 35.23 points, or 0.51 per cent, to 6,950.34.ĪveXis Inc rose 81.6 per cent after Swiss drugmaker Novartis offered to buy the gene therapy company for $8.7-billion. stocks, with big banks, such as JPMorgan Chase, Citigroup and Wells Fargo, set to report first-quarter results on Friday.Īnalysts expect quarterly profits for S&P 500 companies to rise 18.5 per cent from a year ago, which would be the biggest gain in seven years, according to Thomson Reuters I/B/E/S. Investors are looking forward to the start of earnings season to provide a sustained lift to U.S. “Even if it ultimately ends up being nothing, the initial reaction is almost always negative in the market,” said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas. Investors will look for further signs of China’s stance on trade relations when Chinese President Xi Jinping speaks at the Boao Forum economic conference on Tuesday.īut stocks began paring gains late in the afternoon, a downward trend that accelerated after a report that the FBI had raided the New York office of Michael Cohen, Trump’s personal lawyer, upon a referral by Special Counsel Robert Mueller. Stocks climbed after Trump’s new economic adviser Larry Kudlow told CNBC that the president may be open to forming an international coalition to grapple with trade issues involving China. Merck & Co Incwas the biggest boost to the Dow, while gains in Apple shares led the Nasdaq index. Technology and health stocks led the benchmark S&P 500’s major sectors. policymakers on China tariffs powered a rebound from last week’s selloff, but stocks pared much of their gains late in the session after a report that the Federal Bureau of Investigation raided the office of President Donald Trump’s lawyer. Wall Street’s major indexes rose on Monday as a softer stance by U.S. Wall Street rises but pares gains late after report of FBI raid Aurora Cannabis was down 8.6 per cent at C$7.40 and Canopy Growth Co fell 7.0 per cent to C$25.74.Ĭanadian companies remain optimistic about sales growth despite trade uncertainties, the Bank of Canada said in a report that boosted the currency and reinforced expectations of further interest rate hikes down the line. The index posted no new 52-week highs and three new lows.Īmong the most active Canadian shares by volume were weed stocks. sanctions on Russia.įive of the TSX’s 10 main groups ended higher. Shares of Kinross Gold Corp, fell 8.7 per cent to C$4.60 following U.S. The largest percentage gainer on the TSX was Prometic Life Sciences, which rose 5.9 per cent, while the largest decliner was Kinder Morgan, down 12.6 per cent.īusiness groups and local officials called for Canada’s government to guarantee that an expansion of the Trans Mountain pipeline is completed, after Kinder Morgan Canada’s chief executive, Steve Kean, announced the halt on Sunday. The financials group, which accounts for more than one-third of the index’s weight, rose 0.4 per cent and consumer staples advanced 1.6 per cent. policymakers on China tariffs powered a rebound from last week’s sell-off, although stocks pared gains in the final minutes of the trading session. Wall Street’s major indexes also rose as a softer stance by U.S. The Toronto Stock Exchange’s S&P/TSX composite index closed up 20.29 points, or 0.13 per cent, at 15,227.70. Canada’s main stock index rose on Monday as gains for financials offset a steep decline in the shares of Kinder Morgan Canada Ltd after the company halted most work on a disputed pipeline expansion.
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