TSX Stays Above Water Despite Oil Price Plunge

The TSX came off its highs but still managed to stay above water at 35,387.83 points. Despite oil prices plummeting by over 7%, investors remained cautious as they weighed the strength of tech stocks against the decline in energy shares.

Shopify jumped $14.77 or 9.2% to $175.23, while Open Text captured $1.93 or 6.1% to $33.49. Descartes Systems added $4.57 or 4.7% to $100.80.

The Canadian dollar remained flat at 70.92 cents US. Oil prices tumbled after Washington and Tehran paused fighting over the weekend, raising hopes of a resumption of shipping through the Strait of Hormuz.