Nathan Denette/The Canadian Press

Canada’s main stock index rose on Monday for a fourth straight day as Barrick Gold Corp reported better-than-expected quarterly earnings and oil prices rebounded, while investors grew optimistic that interest rates are nearing a peak. Wall Street closed mostly flat as a revenue warning from chipmaker Nvidia served as a reminder of a slowing U.S. economy.

The Toronto Stock Exchange’s S&P/TSX composite index ended 49.04 points, or 0.25%, higher at 19,669.17, after touching its highest intraday level since mid-June at 19,768.01.

Stock markets globally have rallied in recent weeks after being buffeted this year by geopolitical uncertainty and central bank interest rate hikes to tackle soaring inflation.

On Wall Street Monday, stocks retreated from earlier highs as last week’s blowout labour market report was initially seen as a sign the economy could withstand aggressive interest rate hikes by the Fed to tame inflation running at four-decade highs.

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