Equities in Canada’s largest centre opened a titch higher on Tuesday, with the markets awaiting the Bank of Canada's interest rate decision Wednesday.
The TSX Composite inched up 14.88 points, to kick off Tuesday at 18,933.28.
The Canadian dollar gained back 0.28 cents to 73.28 cents U.S.
As for the bank rate, traders are pricing in a 70.2% chance of a supersized 75-basis-point hike, taking its overnight lending rate to a 14-year high at 4%.
ON BAYSTREET
The TSX Venture Exchange increased 2.34 points to 589.55.
All but one of the 12 TSX subgroups gained ground, as health-care skyrocketed 4.9%, information technology gathered 1.3%, and utilities hiked 1.1%.
Only financials missed the boat, doffing 0.2%.
ON WALLSTREET
The NASDAQ Composite was up Tuesday as investors looked ahead to big technology earnings for further clues into the health of the U.S. economy.
The Dow Jones Industrials gained 123.93 points, to 31,623.55.
The S&P 500 took on 29.96 points to 3,827.30.
The tech-heavy NASDAQ advanced 161.34 points to 11,113.95.
Alphabet and Microsoft are among the companies set to report earnings after the bell. Chipotle Mexican Grill is also on deck.
Those reports will come after a smattering of results before the bell.
UPS, 3M and General Motors all posted better-than-expected earnings. Shares of UPS and GM rose in early trading, but 3M dipped 1.6%.
Coca-Cola also reported stronger-than-forecast earnings, sending the stock up 1%.
So far this season, companies have proven they may be faring better than anticipated. That’s due in part to the fact that analysts’ earnings estimates have come down in recent months as companies faced foreign exchange headwinds and other growth concerns.
This could set up stocks for rallies on potentially better-than-feared outcomes.
Treasury prices shot higher, lowering yields to 4.09% from Monday’s 4.25%. Treasury prices and yields move in opposite directions.
Oil prices jumped $1.09 to $85.60 U.S. a barrel.
Gold prices climbed $10.40 to $1,664.50 U.S. an ounce.
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