TSX Moves Higher by Noon
Africa Oil. Iamgold in Focus
Canada's main stock index struggled onto higher ground midday Monday, trying to shake off a five-day losing streak, as energy and health-care stock tried to lend the market some momentum.
The TSX Composite Index acquired 18.59 points Monday to break for lunch at 19,798.56.
The Canadian dollar poked ahead 0.05 cents at 74.25 cents U.S.
Energy concerns making their names known around noon Monday included Africa Oil, up 14 cents, or 4.5%, to $3.25, while Baytex Energy strengthened 15 cents, or 2.8%, to $5.59.
Gold stocks' fortunes weren't so brilliant, as Iamgold docked a dime, or 3.3%, to $2.95, while NovaGold handed over 17 cents, or 2.9%. to $5.69.
The TSX Venture Exchange dipped 1.61 points to move into Monday afternoon at 568.48.
The 12 TSX subgroups were evenly divided, with energy surging 1.1%, health-care, haler by 0.9%, and consumer discretionary stocks ahead 0.6%.
The half-dozen laggards were weighed most by gold, down 1.2%, real-estate, dragging 1.1%, and materials, off 0.8%.
The S&P 500 edged slightly higher Monday as the 10-year Treasury rose to kick off the final week in a September that has seen big losses so far.
The Dow Jones Industrials climbed to within 7.17 points of breakeven mid-Monday to 33,956.67.
The S&P 500 grabbed 11.14 points to 4,331.20.
The NASDAQ index gained 43.87 points to 13,255.68.
Chemical giant Dow was the best-performing member of the 30-stock index, last rising 1.5% after an upgrade from JPMorgan. Energy was the biggest gainer in the S&P 500, up by 1%.
Elsewhere, Amazon shares climbed more than 1% after the online retail giant said Monday it will invest up to $4 billion in artificial intelligence firm Anthropic. Apple was up by nearly 1%. Shares of Nvidia advanced more than 1%.
The S&P 500 has fallen more than 4% in September, on pace for its second straight losing month and its worst month since December. The tech-heavy NASDAQ Composite is down 6% in September as growth stocks bore the brunt of the selloff, also headed for its biggest monthly loss since December. The blue-chip Dow is off by a more modest 2% this month.
Prices for the 10-year Treasury staggered, raising yields to 4.53% from Friday's 4.43%. Treasury prices and yields move in opposite directions.
Oil prices dipped 54 cents to $89.49 U.S. a barrel.
Gold prices removed $8.40 to $1,937.20 U.S. an ounce.
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