Markets Kick Off February on a High, With All Major Indexes Up
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The Toronto Market
The Toronto Market Index
The S&P/TSX Composite Index rose 260.36 points, or 0.82%, to close at 32,183.88. The index climbed steadily from the opening bell and remained well above Friday’s closing level throughout the session, even gaining an additional 100 points during the final hour of trading. This marked a strong rebound following Friday’s sell-off.
Monday’s TSX Market’s Statistics
At the TSX, advancing issues (advancers) outnumbered declining issues (decliners). Specifically, there were 1,397 advancers and 786 decliners, producing a real advancer-to-decliner ratioof 1.78 to 1, or approximately nine advancers for every five decliners with 129 issues unchanged.
There were 274 new 52-Week Highs and 89 new 52-Week Lows, compared with 256 new 52-Week Highs and 51 new 52-Week Lows recorded yesterday. The total trading volume on the TSX reached 715,089,704 shares, up 12% from 601,867,873 shares traded yesterday.
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The US Markets
The U.S. Market Indexes
The Dow Jones Industrial Average advanced 515.19 points, or 1.05%, to close at 49,407.66. The S&P 500 gained 37.41 points, or 0.54%, ending the session at 6,976.44, while the Nasdaq Composite rose 130.29 points, or 0.56%, to finish at 23,592.11.
The Russell 2000 Index climbed 26.54 points, or 1.02%, to close at 2,640.28. The Dow Jones Industrial Average posted a notably strong session, opening slightly below Friday’s close before rising steadily throughout the day to gain more than 500 points. The Dow and the Russell 2000 were the top-performing major indexes, with small-cap stocks enjoying a relatively positive session, reflected in the Russell 2000’s gain of over one percent.
The 7,000 level continues to act as resistance for the S&P 500 Index. Overall, Monday marked a positive trading session. The Nasdaq began the day well below Friday’s closing level but rebounded quickly, moving well above the 22,600 level and remaining there for the rest of the session.
U.S. Market Wrap-Up Report
U.S. equities began the week on a positive note, supported by improving market breadth and selective sector leadership. Gains were broad enough to confirm a constructive tone, though trading activity and internal indicators suggest investors remain disciplined rather than aggressively risk-seeking.
Sector Performance:
Durable Consumer Goods & Services, Industrials, and Financials led the market on Monday, reflecting continued interest in economically sensitive areas. Utilities and Energy lagged, indicating reduced demand for defensive positioning and near-term caution toward commodity-linked sectors.
Market Breadth & Participation:
Advancing issues outnumbered decliners on both the NYSE and NASDAQ, signaling positive underlying momentum. However, trading volume was lighter on the NYSE and flat on the NASDAQ, pointing to steady accumulation rather than broad institutional conviction. New 52-week highs moderated compared with late last week, reinforcing the view that leadership remains selective.
For investors, this backdrop suggests a market that is stabilizing and constructive, but not yet in breakout mode. Resistance near key index levels—most notably around 7,000 on the S&P 500—continues to cap upside momentum, making stock and sector selection increasingly important.
Company Highlights:
Apple (AAPL) shares climbed 4.06%, gaining $10.53 on the session, following news that Apple and several other foreign companies received tax incentives related to contractor equipment funding in parts of India for the next five years. Coming off last week’s earnings report, Apple’s post-earnings strength and improving sentiment suggest the stock merits consideration for investors’ watchlists.
Palantir Technologies (PLTR) exceeded fourth-quarter earnings expectations, driven by accelerating artificial intelligence adoption and strong defense-related demand. The company also issued upbeat guidance after the market close, highlighting growing traction within U.S. government contracts and reinforcing its positioning within the AI and data analytics space.
Commodities Update:
Gold and silver prices rebounded on Tuesday following a historic sell-off. Analysts indicate the recent decline appears more consistent with a positioning reset rather than the start of a prolonged downturn, suggesting precious metals may be attempting to stabilize.
Investor Takeaway:
Monday’s session reflected a cautiously positive environment. Improving breadth and small-cap participation are encouraging, but lighter volume and mixed leadership argue for a measured approach. Retail and long-term investors alike may benefit from maintaining exposure while focusing on quality names, earnings momentum, and sectors showing consistent accumulation rather than chasing broad market moves.
What to Watch Next Session
Index Resistance Levels:
Investors will be watching whether the S&P 500 can challenge and sustain a move above the 7,000 level. A decisive break above resistance, particularly on stronger volume, would signal improving upside momentum.
Volume Confirmation:
After a lighter-volume advance, increased trading activity would help validate recent gains. A follow-through session with expanding volume would suggest growing institutional participation.
Sector Rotation:
Continued leadership from Industrials, Financials, and Consumer-related sectors would reinforce confidence in the market’s economic outlook. Conversely, renewed strength in Utilities could signal a shift back toward defensive positioning.
Small-Cap Follow-Through:
The Russell 2000’s outperformance will be closely monitored. Sustained strength in small-cap stocks often reflects improving risk appetite and broader market participation.
Post-Earnings Reactions:
Investor response to earnings reports, particularly within technology and AI-related names, will be key. Stocks holding gains after earnings may offer insight into where institutional demand is strengthening.
Commodities & Inflation Signals:
Gold and silver price action following their recent rebound may offer clues about inflation expectations and investor hedging behavior.
Commodities and Bonds:
Oil Price: The effects of and reactions to President Trump’s musing about taking over Greenland continues unabated. Supply risk around oil supply has now taken focus. US crude oil price rose to $60.55 a barrel earlier today. Oil price is up 0.35% at $59.78 per barrel, as of the time (12:30 am EST, Tuesday) of this post update.
Gold price is up $194.36, or 4.23%, at $4,848.10 per troy ounce. Silver price is up also, $5.966 or 7.91%, at $83.10 per ounce as of the time of this post update.
Gold price about 10% on Friday but Gold price recovered Tuesday morning $7.91%, which is still quite down from the 30% decline on Friday. .
Bitcoin (BTC-USD) is trading up $242.93 or 0.29% at $78,406.01 as of the time of this post update.
10 –year Treasury Yield: The 10-year yield inched higher earlier in the day on strong US data. The 10-year treasury is currently at 4.283%, as of the time (12:30 am EST, Tuesday) of this post update.
After-hours action: Futures are up Monday evening / Tuesday, early morning even starting February trading session on a positive note Monday. Dow futures is up 26.00 points or 0.05% vs. fair value. S&P 500 futures is up 17.25 points or 0.25% at 7,020.00 and Nasdaq 100 futures is up 128.50 points or 0.50% at 25,978.75 as of the time (12:30am EST, Tuesday) of this post update.
Reminder: Overnight futures often have little correlation to the following day’s regular trading session. All figures reflect market conditions at the time of capture only.
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(c) This article is published by The Canadian Vanguard on February 2, 2026
