Santa Claus brings record cheer to markets
Markets on both sides of the border inched up Monday on a typically quiet, pre-Christmas session. Both oil and gold moved up, which helped lift the TSX to record levels. Baytex Energy, up 9.36%, and First Majestic Silver, leaping 8.06%, were among the biggest gainers. The three major New York indices didn’t fare too badly either–closing at new records. For example, the Nasdaq has gained 36% in 2019, quite a difference from 12 months ago when markets were tanking in the wake of rising interest rates and rampant trade uncertainty. A notable American gainer on Monday was Boeing, up 3.01%, but for the wrong reason: its CEO quit. Tuesday will bring a half-day of trading before markets resume on Friday. Volumes will be light, but obviously Santa Clause is already casting his annual Effect on markets. Happy holidays!