TSX and Dow make record highs (again)

With investors optimistic that interest rates will be cut in Canada and the U.S., the market rally continued to broaden beyond tech on Monday. The TSX and Dow closed at record highs to repeat last Friday’s feat. The Canadian index rose 0.36% to 22,745.

Most active were CNQ up 1.91% and TD by 1.18%. Steel dominated headlines after Cleveland-Cliffs announced it would buy Stelco. Stelco shares soared nearly 74% as Cleveland-Cliffs added 0.25% and rival Algoma rallied 13.32%. Meanwhile, Canada Goose plunged 9.45%. WTI slipped 0.35% to dip under US$82 as gold added US$10 to US$2,421.

The Dow rallied 0.45% to close at 40,192. Apple also finished the day on a record high after gaining 1.67%. Tesla was also heavily traded, rising 1.78%, though Ralph Lauren sank 5.79%. Talks of a buyout pushed Macy’s down 11.73%. The S&P climbed 0.35% and the Nasdaq 0.4%. The U.S. 10-year yield held around 4.277% as Bitcoin rose 5.3% to US$63,350.

🛢 Canadian Natural Rsrcs (CNQ-T) +1.91%

🏛 Toronto Dominion (TD-T) +1.18%

⛓ Stelco Holdings Inc. (STLC-T) +74%

⛓ Cleveland-Cliffs Inc. (CLF-N) +0.25%

⛓ Algoma Steel Group Inc (ASTL-T) +13.32%

🧣 Canada Goose (GOOS-N) -9.45%

🍎 Apple Inc (AAPL-Q) +1.67%

🚗 Tesla Inc (TSLA-Q) +1.78%

👔 Polo Ralph Lauren Corp. (RL-N) -5.79%

🛍 Macys Inc. (formerly Federated Department Stores) (M-N) -11.73%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +5.3%