04:19 PM EDT, 09/30/2024 (MT Newswires) -- The Toronto Stock Exchange closed out September with a gain, coming close but falling short of climbing back above the 24,000 mark reached on last Thursday's record close.

The S&P/TSX Composite Index closed up 41.31 points to close out the day at 23,998.13. Information technology was the biggest gainer on the day, up 0.9%, followed by Energy, up 0.6%. Base Metals is the biggest decliner, down 1.3%, followed by Battery Metals, down 1.2%.

For the month, the TSX gained 2.8%, setting a number of record highs on interest-rate cuts from the Bank of Canada and the U.S. Federal Reserve. But while the Bank of Canada has cut rates three times and is expected to continue lowering rates to stimulate growth, the pace of U.S. cuts remains unclear.

Reflecting the uncertainty around rates, Bloomberg noted Federal Reserve Chair Jerome Powell said today the U.S. central Bank will lower interest rates "over time," while again emphasizing that the overall U.S. economy remains on solid footing. His remarks, Bloomberg said, left open the question of how policy makers will approach the size and pace of interest-rate cuts in coming months, a crucial matter for investors.

In terms of individual company news, Toronto-Dominion Bank ( MLWIQXX ) (TD.TO, TD) will pay more than US$20 million as part of a deal with U.S. prosecutors and regulators to resolve investigations over a former trader's alleged placement of "spoof" orders to manipulate the U.S. Treasuries market, Bloomberg also reported on Monday.

It noted the U.S. Department of Justice on Monday said in a New Jersey federal court filing that the Canadian bank entered into a three-year deferred prosecution agreement ot end criminal and civil probes into "hundreds of fraudulent spoof orders amounting to tens of billions of dollars of false supply and demand" for U.S. Treasury securities.

Air Canada's ( ACDVF ) pilots are slated to begin voting Tuesday on a tentative labor agreement reached with the airline. Charlene Hudy, the head of the Air Canada ( ACDVF ) pilots union, has said she'll step down if members opt not to approve it. The ratification vote is set to close October 10.

West Texas Intermediate (WTI) crude oil closed with a small loss on Monday as weak demand from China and concerns over rising supply offset worries over a widening Middle East war as Israel steps up attacks on Lebanese militia groups. WTI crude oil for November delivery closed down US$0.01 to settle at US$68.17 per barrel, while December Brent oil, the global benchmark, closed down US$0.21 to US$71.77.

Gold traded lower for a second session mid-afternoon on Monday, continuing to correct from a record high touched last week even as international tensions rise. Gold for December delivery was last seen down US$15.40 to US$2,652.70 per ounce.