Canada's main stock index opened at a fresh record high on ?Tuesday, led by ?gains in financial shares, after ?a report ?said the United States and ?Iran ?were nearing an ?arrangement ?to ?end their six-month conflict.
The TSX continued its march, gaining 71.5 points to open the session at 36,529.83.
The Canadian dollar hesitated 0.01 cents at 71.76 cents U.S.
U.S. President Donald Trump on Monday responded to Iran's conditions for a peace deal with his own demands that Iran pay compensation for people killed in wars, attacks and protests, in a rhetorical escalation likely to complicate efforts to reopen the Strait of Hormuz.
Barrick Mining said it had appointed Sebastiaan Bock as chief executive officer for its Rest of World division. The stock fell 12 cents to $56.91 in the early going on Tuesday.
ON BAYSTREET
The TSX Venture Exchange eased back 2.95 points to 970.86.
Seven of the 12 TSX subgroups moved forward, with utilities taking on 1%, while industrials and telecoms each gained 0.7%.
The five laggards were weighed most by information technology, sinking 1.2%, while gold and consumer staples each shed 0.2%.
ON WALLSTREET
The S&P 500 was relatively unchanged on Tuesday as investors weighed signs of progress toward reopening the Strait of Hormuz against lingering doubts that the U.S. and Iran can reach a broader resolution to the conflict.
The Dow Jones Industrials regained 50.64 points to start out Tuesday at 54,026.62.
The much-broader index revived 4.82 points to 7,757.93.
The NASDAQ Composite dumped 30.2 points to 26,575.15.
Nvidia shares kept the S&P 500 afloat, rising more than 1%. On Monday, the company said it’s partnering with six large asset managers to mobilize more than $500 billion for artificial intelligence infrastructure.
The moves come as oil held steady amid uncertainty over the Middle East conflict.
Iran has said it is closing in on a deal with Oman to reopen the Strait of Hormuz, but Tehran has continued to resist direct negotiations with the U.S. until several conditions are met.
Iranian Foreign Minister Abbas Araghchi said Sunday there was “no possibility of restarting negotiations” as long as the U.S. continues violating the June memorandum of understanding and does not compensate Iran for those violations, according to the semi-official Tasnim News Agency.
Prices for the 10-year Treasury showed strength, dropping yields to 4.68% from Monday’s 4.71%. Treasury prices and yields move in opposite directions.
Oil prices dipped two cents to $82.11 U.S. a barrel.
Gold prices surged $22.90 to $4,442.40 U.S. an ounce.
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