S&P/TSX composite ends day up more than 200 points, U.S. stocks also close higher - BNN Bloomberg

Canada's main stock index ended the first trading day of the week up more than 200 points, as U.S. stock markets also closed higher.

"I think investors have a bit more confidence that inflation is on a downward trajectory. Of course, all eyes will be on the U.S. CPI tomorrow to confirm that," said Angelo Kourkafas, investment strategist at Edward Jones. "Patience is likely required for investors. But there are some encouraging signs that the Bank of Canada and the economy is making some progress towards that soft-landing scenario," Kourkafas said.It was a busy Monday in Canada’s energy sector, with Calgary-based Tamarack Valley Energy Ltd. saying that it is buying privately held Deltastream Energy Corp. for $1.

"The energy sector is not a sector investors really want to own in later parts of the economic cycle, especially with heightened risks of a recession," he said.

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