Hopes that a Democratic sweep will speed up the approval of more stimulus for the U.S. economy are likely fuelling investors' optimism.

World markets climbed Monday as investors breathed a sigh of relief after days of U.S. presidential limbo ended with Democrat Joe Biden declared the president-elect.

“I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business,” Trump tweeted.

Wall Street and most of Asia rallied overnight after Trump's return from the Walter Reed Medical Center military hospital.

Markets are watching the November election's impact on tax policy and how long it might take to determine the winner.

The technology-centric Nasdaq led the declines as its heavyweight stocks took a hit with the biggest drags from companies including Facebook Inc, Apple Inc, Amazon.com Inc, Microsoft Inc and Google-parent Alphabet Inc.

The S&P/TSX composite index closed up 132.87 points at 14,966.56.

Crude oil sellers were offering buyers $37 a barrel.

Canadian and U.S. stock indeces were on different paths at the start of the trading week on Monday.

The Canadian dollar traded for 69.01 cents US compared with an average of 69.05 cents US on Monday.