After a slight pullback to start the week, the TSX continues to hold above the key 35,000 level as investors are likely to focus on commodity markets and fresh corporate developments today for direction.
The TSX Composite Index vaulted 87.35 points to open Tuesday at 35,299.67
The Canadian dollar eked higher 0.03 cents to 70.41 cents U.S.
Gold and silver prices continued to fall in early trading on Tuesday, while oil prices bounced back from their lowest level in months, pointing to a mixed opening for the commodity-heavy TSX index today.
While firmer crude oil prices could provide some support to energy stocks, continued weakness in precious metals may keep pressure on gold and silver miners.
On the economic front, Canada's merchandise exports increased 1.6% in April, while imports edged up 0.3%. As a result, Canada's merchandise trade surplus with the world widened from $1.8 billion in March to $2.7 billion in April.
Elsewhere, the IVEY Purchasing Managers Index skidded to 56.2 in June from 58.2 in May, but improved on a reading of 53.3 in June 2025
ON BAYSTREET
The TSX Venture Exchange was down 11.37 points, or 1.2%, to 912.84.
All but three of the 12 subgroups were higher in the first hour, led by telecoms, zooming 2.7%, while energy proved 1.4% more energetic, and consumer staples improved 1.1%.
The three laggards were materials, sliding 1.5%, while gold dipped 1.4%, and industrials, fading 0.04%.
ON WALLSTREET
The Dow Jones Industrial Average was relatively unchanged on Tuesday as investors once again appeared to rotate out of names tied to artificial intelligence.
The 30-stock index backed off 81.59 points in the early going to 52,947.72, after surpassing 53,000 Tuesday for the first time ever.
The S&P 500 fell 40.18 points to 7,497.25.
The tech-heavy NASDAQ withered 336.37 points, or 1.3%, to 25,299.67.
Shares of Micron were last seen 7% lower, with KLA, Marvell Technology, Broadcom and AMD also posting declines.
Investors moved into key names in other areas of the market such as healthcare, financials and Big Tech.
Shares of Eli Lilly gained more than 2%, while JPMorgan Chase and Microsoft also saw gains. Walmart shares added more than 2% on the heels of the company announcing price cuts on products such as ground beef and Coca-Cola.
Also weighing on sentiment, Reuters reported, citing sources, that DeepSeek was developing its own AI chip. The push could cut the company’s dependency on semiconductors from companies such as Nvidia and Samsung. Shares of Nvidia were more than 1% lower.
Prices for the 10-year Treasury regressed, raising yields to 4.51% from Monday’s 4.47%. Treasury prices and yields move in opposite directions.
Oil prices added $1.78 to $70.33 U.S. a barrel.
Gold prices edged lower 40 cents to $4,167.10 U.S. an ounce.
