Equities in Canada’s largest centre finished Tuesday emphatically on the positive side, thanks to jumps in resource issues.
The TSX Composite Index jumped 165.61 points to conclude Tuesday at 25,648.84.
The Canadian dollar skidded 0.01 cents to 70.48 cents U.S.
In corporate news, a Bombardier CRJ900 operated by Delta Air Lines overturned upon landing at Toronto Pearson Airport on Monday amid windy conditions following a snowstorm, resulting in injuries to 18 of the 80 passengers.
Shares in Bombardier gained $2.75, or 3.2%, to $88.00.
In other stocks, Fortuna Mining lost 61 cents, or 8.3% to $6.70, after CIBC downgraded its rating on the miner to "underperform" from "neutral".
Gold stocks led the pack, with Eldorado Gold jumping 76 cents, or 3.8%, to $20.55, while Equinox Gold hiked 35 cents, or 3.7%, to $9.94.
In materials, Interfor popped 95 cents, or 5.7%, to $17.73, while Calibre Mining grabbed a dime, or 3.4%, to $3.03.
Energy also chugged along, with IPCO firing off $1.07, or 5.5%, to $20.39, while Parex Resources rocketed 55 cents, or 3.9%, to $14.61.
Telecoms did not have such a strong day, as BCE faltered 67 cents, or 2%, to $33.11, while TELUS backed off 22 cents, or 1%, to $21.58.
In utilities, Fortis hesitated $1.79, or 2.8%, to $61.85, while Boralex docked 29 cents, or 1.1%, to $25.50.
Tech stocks also dropped, with Sangoma Technologies shedding 32 cents, or 3.5%, to $8.81, while Descartes Systems Group fell $2.05, or 1.2%, to $163.14.
StatsCan data revealed that foreign investors purchased a net $14.37 billion in Canadian securities in December.
Meanwhile, Canadian investors acquired $3.8 billion of foreign securities, down from a $17.6 billion investment in November.
Housing starts in January totaled 239,700, compared to 232,500 in the prior-year month.
Elsewhere on the economic front, CREA Stats for January came out Tuesday, National home sales fell 3.3% month-over-month. Actual (not seasonally adjusted) monthly activity came in 2.9% above January 2024.
The Consumer Price Index (CPI) rose 1.9% on a year-over-year basis in January, up from a 1.8% increase in December. On a seasonally-adjusted monthly basis, the CPI rose 0.1% in January.
Markets on both sides of the border were closed Monday, for Family Day in Canada, Presidents Day in the States.
ON BAYSTREET
The TSX Venture Exchange edged up 1.64 points to 641.90.
All but three of the 12 subgroups were in the green Tuesday, with gold surging 1.8%, energy hiking 1.4%, and materials gained 1.3%.
The three laggards proved to be telecoms, skidding 0.7%, utilities down 0.2%, and information technology off 0.1%.
ON WALLSTREET
Stocks fell slightly on Tuesday, with the S&P 500 struggling to reach the all-time high set a month ago, as traders weigh headwinds on the global trade and inflation fronts.
The Dow Jones Industrials nosed ahead 10.26 points at 44,556.34
The much-broader index gained 14.95 points to 6,129.58
The tech-heavy NASDAQ tacked on 14.49 points to 20,041.26.
Energy was the best-performing sector in the S&P 500, rising 1.9%. Halliburton and Valero Energy led the advance. Tech stocks also ticked higher.
That said, pullbacks of more than 1% in consumer discretionary and communication services weighed on the broader market. Meta Platforms lost 3%, while Amazon dropped 2%.
Wall Street is coming off a winning week for the major averages. The Dow gained roughly 0.6% last week, while the S&P 500 advanced 1.5%. The NASDAQ rose 2.6%.
The 30-stock Dow and the NASDAQ are about 1% off their recent records, while the S&P 500 is just 0.2% off its own milestone.
Much of last week’s advance came Thursday after President Donald Trump’s plan for reciprocal tariffs on countries with levies on U.S. goods soothed investors who worried they would be more stringent.
Stocks have been choppy to start the year but, even with ongoing concerns around trade and inflation, a look at the major averages show that they are not too far off their recent highs as investors scan for a catalyst for the next leg higher.
Prices for the 10-year Treasury lost ground, raising yields to 4.55% from Friday’s 4.48%. Treasury prices and yields move in opposite directions.
Oil prices grabbed $1.03 to $71.77 U.S. a barrel.
Prices for gold popped $49.80 an ounce to $2,950.50 U.S.
