AFTER THE BELL: US/Mexico trade optimist drives Dow higher, Cannabis stocks rule TSX,
News of a trade deal replacing NAFTA between the U.S. and Mexico had investors in a buying mood today.
On Bay Street, the TSX jumped 88 points, with broad based gains in 10 of 11 major sectors.
Materials were 1.4 percent higher with gold rising $4.00 to $1,210 an ounce.
And in New York, the Dow jumped 259 points on news of a U.S./Mexico trade deal, while the Nasdaq composite shattered the 8,000 mark for the first time, gaining 71 points.
Pushing the Nasdaq higher were shares in Netflix, Amazon, Facebook and Google parent Alphabet rising. Alphabet led the way with a 1.6-percent increase in its share price.
The loonie continued its upward trend, moving up 35/100ths of a cent to $.07713 cents US while oil inched 21 cents higher to $68.93 US a barrel.
This marks oil’s highest close in nearly three weeks.
Pot stocks ruled Canada’s stock exchange to open the week, with cannabis companies among the top five most actively traded on the TSX today.
There was heavy trade involving Aurora Cannabis, Aphria Inc., Canopy Growth, The Hydropothecary Corporation and Chronos Group, all of which saw their share price increase.
Chronos Group shares jumped 16 percent to $15.17 a share.