TORONTO — Strength in base metal, financial and technology stocks helped lead a broad-based rally Monday, with Canada's main stock index rising more than 150 points while U.S. stock markets also climbed higher.
Markets began the week on an optimistic note, said Danick Dutrisac, vice-president and portfolio manager at Fiduciary Trust Canada.
Even rate-sensitive sectors were up Monday, he said, but added that doesn’t denote a longer-term trend. Consumer spending behaviour hasn’t cooled as much as expected amid the central bank’s tightening cycle, but that could change as excess savings come to an end, said Dutrisac.
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