Jun 30, 2025 (Baystreet.ca via COMTEX) --
Equities in Canada latched themselves to the coattails of their American counterparts Monday, the eve of their national holiday, and went flying toward fresh all-time highs, mostly on the strength of resource stocks and news on the trade front.
The TSX Composite Index hiked 164.79 to conclude Monday at 26,857.11.
The Canadian dollar edged up 0.33 cents to 73.41 cents U.S.
Prime Minister Mark Carney and U.S. President Trump will resume trade negotiations to agree to a deal by July 21, the federal finance ministry said.
Trump had called off the trade talks on Friday over Canada's digital services tax targeting U.S. technology firms, calling it a "blatant attack."
Canada late on Sunday scrapped the tax, hours before it was set to take effect, in a bid to restart the negotiations.
Healthcare stocks led gains on the TSX, as Bausch Health climbed 30 cents, or 3.4%, to $9.13 and Tilray improved two cents, or 3.7%, to 56 cents.
Gold and materials also flexed their muscles, as Lundin Gold captured $4.05, or 6%, to $71.56, while Torex Gold climbed $2.07, or 4.9%, to $44.45.
NGEx took on 70 cents, or 4.6%, to $15.98, while G Mining Ventures soared 59 cents, or 3.5%, to $17.69.
On the flip side, energy stocks led sectoral losses, dropping 0.6% as oil prices steadied with Middle East risks easing and markets weighing on a possible OPEC+ output increase in August.
Baytex Energy lost eight cents, or 3.2%, to $2.44, while Vermilion Energy was off 17 cents, or 1.7%, to $9.99.
Markets in Canada will be closed for Canada Day.
ON BAYSTREET
The TSX Venture Exchange acquired 9.11 points, or 1.3%, to 733.37
All but one of the 12 TSX subgroups were ahead on the session, with gold better by 2.2%, health-care haler by 2.1%, and materials up 1.4%,
Only energy staggered, and 0.4% at that.
ON WALLSTREET
Stocks rose on Monday as traders hoped to close out a stunning month with even more record highs.
The Dow Jones Industrials catapulted 275.5 points to 44,094.73
The S&P 500 advanced 31.88 points to 6,204.95, building on the record highs set in the previous session
The NASDAQ Composite raced 96.28 points to 20,369.73, also a new record high.
Monday marks the last day of June, a month in which the major averages have staged a sharp recovery back to record levels. The S&P 500 was up more than 5% this month, while the tech-heavy NASDAQ jumped more than 6%. The Dow, meanwhile, added about 4% month to date.
Prior to the S&P 500 and NASDAQ hitting all-time highs Friday, global trade and tariff tensions rocked the market, putting the broad market index within striking distance of a bear market in early April.
It's now on pace to finish the quarter with solid gains, along with the other two leading indexes. The S&P 500 has surged more than 10% quarter to date, while the NASDAQ vaulted more than 17% and the Dow was ahead more than 5%, in the period.
Monday's advance follows Canada rescinding its digital service tax in an effort to facilitate trade negotiations with the U.S. That's after President Donald Trump on Friday said the U.S. was "terminating ALL discussions on Trade with Canada."
Initial payments on the tax were set to begin Monday and would have applied to companies such as Google, Meta and Amazon.
Investors are awaiting the announcement of any trade deals between the U.S. and its trading partners, as Trump's 90-day tariff reprieve is set to expire on July 9.
Investors will also be keeping an eye on whether the Senate will be able to pass President Donald Trump's "one, big, beautiful" bill.
If passed by the Senate, the package -- which narrowly passed a key procedural vote in the Senate on Saturday night -- faces an uncertain path in the House, where some GOP lawmakers have balked at revisions in the latest version of the bill.
Prices for the 10-year treasury were higher, dropping yields to 4.23% from Friday's 4.27%. Treasury prices and yields move in opposite directions.
Oil prices faded 53 cents to $64.99 U.S. a barrel.
Gold prices climbed $33.60 to $3,321.60 U.S. an ounce.
COMTEX_466812137/2559/2025-06-30T16:42:20
