TSX Still Spreading its Wings

Interfor, Dream Among Spotlight Issues

Equities in Canada’s largest centre opened higher on Tuesday, in line with a solid European and Asian trading session, as a pause in bond yields increased appetite for riskier equities.

The TSX Composite resumed its upward mobility, taking on 444.5 points, or 2.4%, to open for business Tuesday at 19,325.69.

The Canadian dollar demurred 0.06 cents to 73.31 cents U.S.

CIBC cut ratings for a number of forest product companies to neutral from outperform. Interfor, Canfor, West Fraser Timber went through the rating slash.

Interfor opened Tuesday up eight cents to $24.45, Canfor ducked 18 cents to $20.03, and West Fraser advanced 83 cents to $103.41

Raymond James upgraded Dream Residential Real Estate Investment Trust to outperform from market perform. Dream units jumped 14 cents, or 1.3%, to $11.10.


The TSX Venture Exchange sprinted 14.72 points, or 2.4%, to 622.70.

All 12 TSX subgroups again enjoyed higher readings in the first hour, as information technology and health-care each improved 4.6%, while financials jumped 2.5%.


Stocks surged Tuesday as Wall Street built on a sharp rally seen in the previous session.

The Dow Jones Industrials skyrocketed 743.33 points, or 2.5%, to 30,234.22.

The S&P 500 leaped 102.95 points, or 2.8%, to 3,781.11, putting the index on track for its best two-day rally since March 2020.

The NASDAQ Composite hiked 356.30 points, or 3.3%, to 11,171.74.

Sentiment on Tuesday also got a boost as shares of Credit Suisse traded 4% higher. Earlier in the week there were concerns regarding the bank’s financial health. The bank revealed it would provide updates to its strategy alongside its third-quarter numbers.

There were about 1.1 million fewer job openings than expected in August, the Bureau of Labor Statistics reported Tuesday.

Available positions totaled 10.1 million for the month, less than the 11.1 million FactSet estimate, according to the Job Openings and Labor Turnover Survey.

Treasury prices spiked, lowering yields to 3.58% from Monday’s 3.65%. Treasury prices and yields move in opposite direction.

Oil prices gained $1.79 to $85.42 U.S. a barrel.

Gold prices brightened $21.30 to $1,723.30 U.S. an ounce.