TSX Noses Higher

Gold, Petroleum Stocks in Focus

Stocks in Canada’s largest centre broke their losing streak Tuesday, after plunging deep into the gulch earlier in the day.

The S&P/TSX Composite recovered 19.68 points to close Tuesday at 20,590.98.

The Canadian dollar prospered 0.15 cents at 79.10 cents U.S.

Energy stocks led the parade of winners, with Baytex sprinting 28 cents, or 6.7%, to $4.46, while Vermilion Energy rocketed $1.06, or 5.8%, to $19.48.

Gold stocks also succeeded, with Eldorado Gold up 39 cents, or 3.4%, to $11.75, while Seabridge Gold acquired 53 cents, or 2.5%, to $21.37.

Among real-estate concerns, Tricon Capital zoomed 32 cents, or 1.8%, to $18.18, while Killam Apartment REIT units added 28 cents, or 1.3%, to $21.88.

Tech stocks stumbled, though, as Shopify blundered $49.55, or 4.2%, to $1,138.91, while Kinaxis surrendered $5.83, or 3.7%, to $149.95.

In the consumer discretionary field, Spin Master skidded $1.50, or 3.5%, to $41.11, while Martinrea International handed back 33 cents, or 3.2%, to $10.02.

Among utilities, Innergex Renewable Energy dropped 74 cents, or 4.1%, to $17.44, while Boralex fell $1.25, or 3.8%, to $31.77.


The TSX Venture Exchange recovered 8.8 points, or 1.1%, to 847.21.

Seven of the 12 TSX subgroups ended the day higher, with energy rumbling 3.6%, gold and real-estate each climbing 0.7%.

The five laggards were weighed most by information technology down 2.1%, consumer discretionary sliding 0.7%, and utilities off 0.6%.


The Dow Jones Industrial Average recovered from a decline of more than 800 points for a second day in a row, an unusual burst of volatility that comes as the Federal Reserve is preparing investors for tighter monetary policy.

Still, the blue-chip index finished the day in the minus category 66.77 points to 34,297.73.

The S&P 500 dipped 53.68 points, or 1.2%, to 4,356.45.

The NASDAQ was bruised 315.83 points, or 2.3%, to 13,539.29.

Bank of America added 1.5% and Citigroup gained 2.1%. Occidental Petroleum, APA Corp and Halliburton all rose more than 7%.

American Express was the top gainer on the Dow and the S&P 500 after an earnings beat, adding 8.5%. Dow members IBM and Johnson & Johnson were also among the top gainers on the index after reporting quarterly results.

Tech shares traded off their lows, but most remained in the red. Nvidia, down 23% this year, was still down 3.7% on the day. Microsoft was down 1.8% ahead of its earnings report after the bell

General Electric was among the biggest decliners on the S&P 500 with a 6.1% loss after the company topped quarterly earnings expectations, but missed revenue estimates.

The Fed’s two-day policy meeting began Tuesday as investors look for updates on when the central bank will raise interest rates and by how much. Market participants expect the Fed to signal a rate hike as soon as March and more policy tightening on the table to address high inflation.

Investors also monitored geopolitical tension at the Russia-Ukraine border. President Joe Biden spoke with European leaders Monday amid fears of a possible Russian invasion of Ukraine.

Prices for 10-year Treasurys hesitated, raising yields to 1.78% from Monday’s 1.77%. Treasury prices and yields move in opposite directions.

Oil prices gained $2.06 to $85.37 U.S. a barrel.

Gold prices brightened $7.30 to $1,849.00 U.S. an ounce.