Tech Stocks Lift U.S. and Canada Markets as Gold and Silver Prices Surge

Tech Stocks Push Canada and U.S. Markets Higher as Precious Metals Rise

Markets in both Canada and the United States moved higher on Monday, driven primarily by a rebound in technology stocks, while rising gold and silver prices added support to the Canadian market.

After a volatile and challenging week for equities — especially in the technology sector — investors stepped back into the market, hunting for opportunities following recent pullbacks.

📈 Market Performance at a Glance

Canada

• S&P/TSX Composite Index:
  🔺 +552.34 points to 33,023.32

United States

• Dow Jones Industrial Average:
  🔺 +20.20 points to 50,135.87
• S&P 500:
  🔺 +32.52 points to 6,964.82
• Nasdaq Composite:
  🔺 +207.46 points to 23,238.67

💻 Tech Stocks Lead the Rebound

Kathryn Del Greco, Senior Investment Adviser at TD Wealth, said the gains came as investors reacted to last week’s correction, particularly in software and technology shares.

“There’s definitely some bargain hunters stepping into the market today,” she said.

Chipmakers were among the strongest performers:

• Nvidia: 🔺 +2.5%
• Broadcom: 🔺 +3.4%

These stocks played a major role in lifting the S&P 500, as enthusiasm around artificial intelligence investments remained intact despite recent concerns.

🤖 AI Spending Concerns Still Linger

While markets posted gains, investors remain cautious. Ongoing concerns include:

• High equity valuations after record-setting rallies
• Whether massive AI infrastructure spending will translate into long-term profits
• The sustainability of the current bull market

Still, Del Greco noted that the pullback has attracted capital back into the AI trade.

“After last week’s big correction, I think there’s some money that is looking to deploy as this AI trade continues to play out.”

🇨🇦 Canadian Tech Stocks Benefit from U.S. Momentum

Canadian technology stocks followed U.S. peers higher, reflecting the close correlation between the two markets.

“The tech sector’s having a very nice recovery day in the U.S., and that’s certainly going to pull along Canada as well,” Del Greco said.

🏛️ Dow’s Milestone Signals Broader Market Strength

Last week, the Dow Jones Industrial Average surpassed 50,000 points for the first time, marking a significant milestone.

According to Del Greco, this matters because:

• The Dow represents a broader mix of industries
• Gains beyond tech indicate healthier market participation
• A broader rally supports the long-term sustainability of the bull market

🥇 Precious Metals Add Support to Canadian Stocks

Rising precious metal prices helped boost basic materials stocks in Canada.

Commodities Update

• Gold: 🔺 +2%
  • April contract: $5,079.40/oz (+$99.60)
• Silver: 🔺 +6.9%
  • March contract: $82.23/oz (+$5.34)

Gold prices have been volatile after nearly doubling over the past 12 months, swinging between $4,500 and $5,600 an ounce.

💱 Currency & Energy Markets

• Canadian Dollar:
  💵 73.66 U.S. cents (up from 73.27)
• Crude Oil (March contract):
  🛢️ $64.36 per barrel (+81 cents)

🧾 Key Takeaways

• Tech stocks rebounded after last week’s sell-off
• AI leaders like Nvidia and Broadcom drove gains
• Precious metals surged, supporting Canadian markets
• The Dow’s record high signals broader market strength
• Investor optimism returned, but valuation concerns remain