US markets closed

US markets closed

European equities are modestly higher (ex-UK) and US markets are closed. After a soft day on Friday, Canadian stocks are on the upswing.

The TSX Composite index is up 15 points to 17,926 after a 49-point decline on Friday.

Canadian stocks are up 2.75% year-to-date with much of the gains coming after the Georgia runoff. The country is one of the main beneficiaries of more US spending and better growth.

The main news in Canada today is a report that Biden will cancel the permit for TC Energy's Keystone XL pipeline. That's weighted on the loonie but shares of the company are only down 4%, suggesting it wasn't entirely unexpected. USD/CAD is up 40 pips to 1.2770.