Stocks in Toronto were moving higher Tuesday morning led by a positive move in mining stocks.
The S&P/TSX Composite Index was up 23.44 points to 14975.32 in early trading Tuesday.
On the economic front, Canadian retail trade grew less than expected in June, edging up 0.1% after three months of solid growth, pulled down by declines in sales of autos and gas, Statistics Canada data indicated on Tuesday. Analysts had predicted a 0.3% advance in retail trade.
The Canadian dollar inched ahead 0.021 cents to 79.81 cents U.S.
ON BAYSTREET
The TSX Venture Exchange dipped 1.68 points to 766.62.
Five of the 12 TSX subgroups were negative this morning, with gold stocks retreating 0.69%, consumer staples off 0.24% and utility issues slumping 0.16%.
On the upside, base metal stocks were ahead 1.20%, consumer discretionary stocks rose 0.40% and health-care issues gained 0.28%.
Gold prices were up $4.38 to $1,287.58 U.S. an ounce.
ON WALLSTREET
U.S. stocks were positive Tuesday morning with the Nasdaq looking to snap a four-day losing streak as some investors snapped up beaten down tech stocks.
The Dow Jones Industrial Average rose 71 points, or 0.3%, to 21,777. The S&P 500 gained 9 points, or 0.4%, to 2,437 and the Nasdaq Composite Index climbed 30 points to 6,243, a rise of 0.5%.
Traders are looking ahead to the Kansas City Federal Reserve Bank’s central bank symposium in Jackson Hole, Wyo., which starts Thursday and runs through Saturday. Federal Reserve Chairwoman Janet Yellen and European Central Bank President Mario Draghi are among top speakers, with investors hoping to get hints on the future monetary policy path from both institutions.
In corporate news, Medical device maker Medtronic on Tuesday reported a quarterly profit that beat analysts' estimates, driven by strong demand for its heart and vascular devices. Sales in the company's cardiac and vascular business, which sells defibrillators, pace-makers, heart valves and stents, rose 5.1% to $2.65 billion in the first quarter ended July 28, Medtronic said. The business made up nearly 36% of total sales.
On the economic front, Home prices increased in the second quarter, but moved only slightly from May to June, according to the House Price Index from the Federal Housing Finance Agency.
The HPI increased 1.7% from the first quarter to the second quarter of 2017, and increased 6.6% from the second quarter last year. However, the seasonally adjusted month index increased only 0.1% from May to June.
The benchmark 10-year Treasury note yield rose more than 2 basis points to 2.2 percent, while the two-year yield advanced to trade at 1.322 percent.
Crude oil for September rose 9 cents, or 0.2%, to $47.46 a barrel.
Related Stories
