Alphabet and Celestica lift markets

Both sides of the border began the trading week with a rally, led by tech. Optimism that the U.S. Fed will cut interest rates (reversing last week’s pessimism) and renewed hopes in AI, pushed the tech-heavy Nasdaq 2.69% higher or nearly 600 points, while the S&P rose 1.55% or over 100 points and the Dow 0.44%. Alphabet surged 6.31% to close over $300 for the first time, while Broadcom rallied 11.1%, Western Digital 8.43% and Nvidia 2.05%, though Carnival slid 6.78%. Bitcoin regained some ground as it climbed over US$1,000 to nearly US$89,000. The U.S. 10-year yield slipped to 4.031%.

Celestica was one of the biggest winners on Bay Street, soaring 14.95% and making tech the strongest sector by far on the TSX, trailed by materials Seven sectors gained while staples led three others down. The TSX surged 1.46% or 439 points to 30,600 to return to previous highs. Other notable names: Barrick Gold 8.54%, Fortuna Mining 10.44%, Telus -2.08% and CNQ -1.34% which was the most active. Gold itself incrased US$67 to US$4,132.

🧮 Alphabet Inc (GOOG-Q) +6.31%

🧬 Broadcom (AVGO-Q) +11.1%

💾 Western Digital (WDC-Q) +8.43%

💾 NVIDIA Corporation (NVDA-Q) +2.05%

🚢 Carnival Corp. (CCL-N) -6.78%

🧬 Celestica Inc (CLS-T) +14.95%

🥇 Barrick Gold Corp (ABX-N) +8.54%

🥈 Fortuna Silver Mines (FVI-T) +10.44%

📱 Telus Corp (T-T) -2.08%

🛢 Canadian Natural Rsrcs (CNQ-T) -1.34%