TSX Staunchly Hold Gains Monday
Summary
Seven of the 12 subgroups were lower, as health-care dropped 2%, information technology lost 1.4%, and financials, slipped 0.6% The five gainers were led by gold, up 3%, materials, advancing 2.2%, and energy gained 1.7%. The three major averages all posted record closes Shares of Boeing led the gains, jumping 2.9% after the company ousted CEO Dennis Muilenburg amid the 737 Max crisis. Apple rose 1.6% on Monday after Wedbushs Dan Ives -- the tech giants biggest bull on Wall Street -- raised his price target to $350 a share, 25% higher than where the stock currently trades. Investors cheered the news from China overnight as the country announced starting January 1, it will lower import tariffs on over 850 products ranging from frozen pork to some types of semiconductors. China is making efforts to boost imports amid a slowing economy and a trade war with the U.S. On the data front, the U.S. Census Bureau said new home sales in November totaled 719,000, or 13,000 less than expected.
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