Solid Gains for TSX

Tech Shares Shine

Markets in Toronto continued their march on Tuesday, boosted by tech and material issues.

The S&P/TSX Composite Index gained 72.25 points to conclude Tuesday trading at 16,076.65

The Canadian dollar regained 0.21 cents to 78.25 cents U.S.

All areas of the market prospered today, including energy TransCanada rose 61 cents, or 1.1%, to $64.20, winning a key approval for its Keystone XL pipeline on Monday.

Among tech issues, BlackBerry popped 37 cents, or 2.8%, to $13.47

Materials pumped up as First Quantum Minerals which rose 51 cents, or 3.5%, to $15.31, while Agnico Eagle Mines gained 46 cents to $56.82.

Among real-estate stocks, Collier International Group moved ahead 58 cents to $79.06.

Industrials rose, with Bombardier Inc up two cents to $3.09 in heavy volume after the plane and train maker completed a debt offering and JP Morgan raised its rating on the company to overweight.

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.

ON BAYSTREET

The TSX Venture Exchange squeaked higher 0.42 points to 794.55

All 12 TSX subgroups were in the green by the closing bell, led by information technology, up 1.4%, while materials and real-estate were better by 0.9% each.

ON WALLSTREET

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 160.5 points to 23,590.83, a record. Apple rose 1.9% and was the best-performing stock on the Dow.

The S&P 500 gained 16.89 points to 2,599.03, 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 71.76 points, or 1.1%, to 6,860.42, also an all-time high. Large-cap tech stocks like Facebook, Amazon, Netflix and Alphabet all closed higher

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. Medtronic shares rose 4.8%, while Hormel and Dollar Tree advanced 3.4% and 2.4%, respectively.

On the data front, the Chicago Fed National Activity Index rose in October. Existing home sales rose more than expected in October.

Prices for the benchmark 10-year Treasury note gained a small bit of ground Tuesday, lowering yields to 2.36% from Monday’s 2.37%. Treasury prices and yields move in opposite directions.

Oil prices improved 50 cents a barrel to $56.92 U.S.

Gold prices advanced $4.30 to $1,279.60 U.S. an ounce.