Markets in Toronto rose to a 12-day high on Tuesday, boosted by financial stocks, miners and energy companies including TransCanada Corp, which added to gains after winning a key approval for its Keystone XL pipeline on Monday.
The S&P/TSX Composite Index gained 83.62 points to greet noon at 16,088.02
The Canadian dollar regained 0.35 cents to 78.39 cents U.S.
TransCanada rose $1.41, or 2.2%, to $64.92 on Monday’s developments.
Among tech issues, BlackBerry popped 41 cents, or 3.1%, to $13.51.
Industrials rose, with Bombardier Inc up six cents, or 2%, at $3.13 in heavy volume after the plane and train maker completed a debt offering and JP Morgan raised its rating on the company to overweight.
The largest percentage gainer was First Quantum Minerals which rose 55 cents, or 3.7%, to $15.35, as base metal prices pushed higher.
On the economic beat, Statistics Canada reported that, following two months of increases, wholesale sales declined 1.2% to $62.0 billion in September, the second negative reading so far this year.
The TSX Venture Exchange slid 2.11 points to 792.02
All 12 TSX subgroups gained as information technology took on 1.2%, materials gained 1%, and real-estate advanced 0.7%.
U.S. stocks rose to record highs on Tuesday as a rally in tech lifted the broader market. Investors also cheered strong quarterly results from top companies in Corporate America.
The Dow Jones industrial average screamed higher 178.44 points to 23,608.47, with Microsoft and Apple leading advancers on the 30-stock index. It hit a record high late in the morning.
The S&P 500 gained 17.34 points to 2,599.48, and reached an all-time high, with information technology as the best-performing sector. The index also broke above 2,600 for the first time.
The NASDAQ Composite rocketed 69.47 points, or 1%, to 6,860.42, to hit an all-time intraday high. Large-cap tech stocks like Facebook, Amazon, Netflix and Alphabet all traded higher, along with biotechnology stocks.
Investors also digested strong earnings from some of the biggest U.S. companies. Medtronic, Hormel Foods and Dollar Tree all posted better-than-expected quarterly results Tuesday before the bell, sending their stocks higher. Lowe's also reported stronger-than-expected quarterly earnings and revenue, but its stock fell 0.5%.
After Monday's close, Intuit, Palo Alto Networks and Agilent Technologies reported better-than-expected earnings.
Prices for the benchmark 10-year Treasury note fell off Tuesday, raising yields back to Monday’s 2.37%. Treasury prices and yields move in opposite directions.
Oil prices improved 35 cents a barrel to $56.77 U.S.
Gold prices spiked $6.70 to $1,282 U.S. an ounce.