(Updates with morning prices)
By Ragini Mathur
Oct 6 (Reuters) - Canada's main stock index continued
its winning streak, surging to a fresh record high on Monday,
fueled by gains in technology stocks and positive sentiment from
Wall Street.
Toronto's S&P/TSX composite index climbed 0.2% at
30533.91 points, on track for its seventh consecutive session of
gains and building on its 2.4% gain from the previous week.
The bullish momentum mirrored Wall Street, where markets
rallied after AMD announced a chip-supply partnership
with OpenAI, becoming the latest in a series of artificial
intelligence deals that drove markets higher recently.
TSX's information and technology sector gained 1%.
Cryptocurrency miner Bitfarms ( BITF ) soared 14.7% as
bitcoin hovered near an all-time high.
Materials stocks added 1.4%, bolstered by gold
prices reaching historic highs. The precious metal benefited
from safe-haven demand and growing expectations for an interest
rate cut at the U.S. Federal Reserve's October meeting.
While a U.S. government shutdown entering its sixth day has
paused economic data releases south of the border, Canadian
investors are turning their attention to domestic employment
figures expected later this week.
"The employment numbers are critically important, especially
considering Canada's deeply concerning job data from the past
two months," noted Colin Cieszynski, chief market strategist at
SIA Wealth Management. "We're watching closely to see if there's
a rebound or if the negative trend continues."
"The employment numbers will be interpreted through the lens
of whether the Bank of Canada needs to implement further rate
cuts."
Back in markets, the energy sector contributed to
the positive momentum, rising 1.2%, after oil prices increased
about 1% on the day as OPEC+'s planned production increase for
November was more modest than expected.
Healthcare stocks, however, emerged as the day's
worst performer, declining 1.2%.