The week began with oil prices surging nearly 4%, due to tensions between Russia and Ukraine and expected higher demand. These tailwinds offset OPEC’s plan to increase oil supply. WTI jumped to US$63.10 a barrel and, along with minerals, lifted the TSX 213 points higher to a record close of 26,388. <\/p>\n\n\n\n
The most influential stocks were Suncor<\/a>, rallying 2.91%, and CNQ<\/a> up 1.32%. Meanwhile, gold advanced US$92 to US$3,381 to lead minerals sharply higher. Fortuna Mines<\/a> soared 11.83%, First Majestic Silver<\/a> jumped 11.22% and Ivanhoe Mines<\/a> rose 2.73%. <\/p>\n\n\n\n Over the weekend, Trump reignited his trade war by announcing 50% tariffs on steel and aluminum. Whether this will be another TACO moment or a lasting tax is anyone’s guess, but the S&P and Dow sold off for much of the day, closing in the positive only after a late-session rally at 0.41% and 0.008% respectively. The Nasdaq advanced 0.67%. Naturally, American steel and aluminum companies rallied: Nucor<\/a> 10.1%, Newmont<\/a> 5.42% and Freeport-McMoRan<\/a> 4.34%. Meanwhile, Ford<\/a> tumbled 3.85% and Nvidia<\/a> rose 1.67%. The U.S. 10-year yield hovered around 4.42% while Bitcoin declined US$200 to US$104,800. <\/p>\n\n\n\n 🛢 Suncor Energy Inc\u00a0(SU-T)<\/a> +2.91%<\/p>\n\n\n\n 🛢 Canadian Natural Rsrcs\u00a0(CNQ-T)<\/a> +1.32%<\/p>\n\n\n\n ⛏ Fortuna Silver Mines\u00a0(FVI-T)<\/a> +11.83%<\/p>\n\n\n\n 🥈 First Majestic Silver\u00a0(AG-N)<\/a> +11.22%<\/p>\n\n\n\n ⛏ Ivanhoe Mines Ltd\u00a0(IVN-T)<\/a> +2.73%<\/p>\n\n\n\n ⛓ Nucor Corp.\u00a0(NUE-N)<\/a> +10.1%<\/p>\n\n\n\n 🥇 Newmont Goldcorp\u00a0(NGT-T)<\/a> +5.42%<\/p>\n\n\n\n ⛏ Freeport McMoran Copper & Gold\u00a0(FCX-N)<\/a> +4.34%<\/p>\n\n\n\n