Canada's main stock index nudged higher on Tuesday as investors digested a key data release, while an uptick in bond yields also contributed to the downward momentum.
The TSX Composite Index moved higher 26.24 points to move into Tuesday afternoon at 25,509.47.
The Canadian dollar skidded 0.05 cents to 70.45 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 $2.51, or 2.9%, to $87.76.
In other stocks, Fortuna Mining lost 55 cents, or 7.5% to $6.76, after CIBC downgraded its rating on the miner to "underperform" from "neutral".
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.
Markets on both sides of the border were closed Monday, for Family Day in Canada, for Presidents Day in the States.
ON BAYSTREET
The TSX Venture Exchange improved 3.74 points to 644.
Seven of the 12 subgroups were down in the first hour, with utilities and consumer staples each sliding 0.7%, and telecoms off 0.6%.
The five gainers were led by gold, up 0.6%, materials, better by 0.4%, and real-estate, inching ahead 0.1%.
ON WALLSTREET
The S&P 500 rose on Tuesday, trading near a record as stocks stay resilient despite rising global trade fears and persistent inflation worries.
The Dow Jones Industrials backed off 60.10 points at 44,485.98
The much-broader index gained 8.01 points to 6,122.64
The tech-heavy NASDAQ tacked on 7.5 points to 20.034.27.
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%.
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 gained, lowering yields to 4.53% from Friday’s 4.48%. Treasury prices and yields move in opposite directions.
Oil prices grabbed 93 cents to $71.67 U.S. a barrel.
Prices for gold popped $48.70 an ounce to $2,949.40 U.S.
