TSX Approaches 30K

(MENAFN- Baystreet)
The TSX continued to occupy the rarefied air of record highs, Monday pushing up toward the 30,000 mark, led by strength in health-care and tech stocks.
The TSX Composite Index screamed higher 210.63 points to close Monday at 29,9971.91.
The Canadian dollar forged ahead 0.10 cents to 71.84 cents U.S.
Cannabis companies climbed on Monday after U.S. President Donald Trump advocated the potential benefits from the use of cannabidiol in senior healthcare in a social media post.
Pot firm Curaleaf Holdings jumped 69 cents, or 36.1%, to $4.49, while Canopy Growth popped 32 cents, or 16.8%, to $2.20,
Aurora Cannabis accelerated $1.78, or 26.3%, to $8.66, and Cronos Group rose 48 cents, or 13.2%, to $4.13.
Elsewhere, Bitfarms led techs higher with gains of 37 cents, or 10.4%, to $3.93, while Shopify hiked $12.06, or 6,2%, to $202.46.
In consumer staples, Premium Brands grabbed $2.08, or 2.3%, to $93.01, while Alimentation Couche-Tard shares sprang up $1.11, or 1.5%, to $73.75.
Energy fell behind, as Vermilion Energy gave back 59 cents, or 5%, to $11.19, while International Petroleum shares were in reverse 89 cents, or 5.1%, to $23.47.
ON BAYSTREET
The TSX Venture Exchange sidled up 8.89 points, or 1%, to 942.84
All but one of the 12 subgroups were positive at the end of the week's first session, with health-care powering ahead 6.8%, while information technology jumped 2.5%, and consumer staples obtained 1.1%.
Only energy missed the party, docking 1.6%.
ON WALLSTREET
The S&P 500 rose on Monday as Wall Street regained some its footing after a week in which the artificial intelligence trade lost some steam.
The Dow Jones Industrial Index was moved into the green by the end, picking up 68.78 points at 46,169.85.
The much-broader index recovered 17.51 points to 6,661.21.
The tech-heavy NASDAQ climbed 107.09 points to 22,591.15
AI chip darling Nvidia rose after skepticism around the AI trade put pressure on the broader stock market last week. Some traders even questioned whether there was enough energy to power an infrastructure plan between Nvidia and OpenAI.
Nvidia closed 2% higher. Other AI stocks like Advanced Micro Devices and Micron Technology added more than 1% and 4%, respectively.
Shares of Electronic Arts jumped 4.5% after the video game company announced that it's going to be taken private in a $55-billion deal.
The market is still poised for modest gains for the month of September. The S&P 500 has increased 3% this month, while the Dow has risen 1%. The tech-heavy NASDAQ has been the outperformer with a 5% rally.
U.S. mergers and acquisitions that have been announced have surpassed $1 trillion this year, up 29% from the same time a year ago, according to Goldman Sachs.
Prices for the 10-year Treasury gained ground, thus lowering yields to 4.15% from Friday's 4.19%. Treasury prices and yields move in opposite directions.
Oil prices shed $2.51 to $63.21 U.S. a barrel.
Gold prices hiked $48.50 to $3,857.50 U.S. an ounce.

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