Canada BoC Market Participants Survey

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Euro Area ECB President Lagarde Speech

United States 3-Month Bill Auction

The Dow Jones Index is falling -159 points. Losses were driven by Amazon (-2.62%), Merck (-2.58%) and Amgen (-2.43%). Biggest rises came from Nvidia (3.30%), Microsoft (1.53%) and Cisco Systems (0.88%).

The Dow Jones Index Opens 0.32% Lower

The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, declined for a sixth consecutive day on Monday, down 1.5% to a new low since January 26 at 1,895 points, largely due to softer iron ore cargo volumes and a seasonal slowdown around the Lunar New Year period. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, slumped over 2.9% to a two-week low of 2,833 points; and the panamax index, which usually carries 60,000-70,000 tons of coal or grain, fell about 0.2% to 1,648 points. By contrast, the smaller supramax index rose 0.9% to 1,114 points.

Baltic Dry Index Falls for 6th Day

The S&P TSX Composite rose about 0.4% to trade above 32,550 on Monday, extending momentum after posting its largest daily gain in four months in the prior session as strength in precious metals underpinned the index. Gold miners led advances, with Agnico Eagle, Barrick, Wheaton Precious Metals, and Franco-Nevada climbing between 1.9% and 2.2% as gold prices gained nearly 1%. Financials also provided steady support, with RBC, TD Bank, and BMO each advancing around 0.5%. Energy stocks were mixed, reflecting oil prices stabilising after earlier losses as supply concerns eased following confirmation that the US and Iran will continue talks after constructive discussions in Oman. Elsewhere, AIG announced late Friday that it had completed the acquisition of a 9.9% stake in Canadian asset manager Onex. Investor focus now turns to upcoming earnings, with Constellation Software under pressure ahead of results later today and reports from Shopify, Agnico Eagle, and Cameco due later in the week.

TSX Extends Momentum

Italy’s 10-year BTP yield eased toward 3.45%, its lowest level since late January, as markets evaluated the European Central Bank’s policy signals and turned their attention to upcoming macroeconomic releases, including the closely watched US employment and inflation data. At its latest meeting, the ECB left rates unchanged and reiterated that inflation is on track to return sustainably to its 2% medium-term goal. President Christine Lagarde maintained a composed stance, stating that the euro area’s inflation outlook remains in a “good place” and minimizing concerns over the euro’s recent strength. She also emphasized that potentially volatile data in the months ahead should not be used as the sole basis for policy decisions. Meanwhile, investors reacted to the announcement that Bank of France Governor François Villeroy de Galhau will step down on June 1, 2026, ahead of the originally scheduled end of his term in autumn 2027.

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