The TSX enjoyed a positive session, propped up enormously by tech and resource stocks.
The S&P/TSX Composite Index gained 52.92 points to close Tuesday at 15,353.30
The Canadian dollar edged higher 0.1 cents to 79.67 cents U.S.
The technology sector towered over all subgroups, helped by Shopify’s price increase of $11.22, or 7.6%, to $158.00, while BlackBerry shone brighter 30 cents, or 2.2%, to $13.52.
Also helping was Open Text’s rise of $1.53, or 3.5%, to $45.00, after activist hedge fund Blue Harbour Group LP CEO said the business information management software company could be acquired.
Materials had a fine day, too, as First Quantum Minerals climbed 72 cents, or 4.3%, to $17.45, while Teck Resources gained 16 cents to $33.01.
In energy, shares of Enbridge Inc rose 45 cents, or 1.1%, while Suncor pointed upwards 42 cents to $47.58.
Health-care got bruised, one of the largest decliners being Aphria Inc, down 83 cents, or 6.8%, to $11.41, while Aurora Cannabis lost 49 cents, or 5.5%, to $8.44.
Among telecoms, BCE Inc. lost 36 cents to $53.82, while Rogers shed 44 cents to $56.79.
On the economic front, Statistics Canada says manufacturing sales increased 1.9% to $55.8 billion in February, following two consecutive monthly decreases. The growth was due mainly to higher sales in the transportation equipment industry.
Elsewhere, foreign investment in Canadian securities totaled $4.0 billion in February, down from $5.6 billion in January. Meanwhile, Canadian investment in foreign securities slowed to $6.3 billion, following two months of strong acquisitions.
Also helping sentiment was improved prospects of a revamped North American Free Trade Agreement. Mexico’s economy minister said, barring some “tiny details,” work was finished on chapters including telecoms, energy and technical barriers to trade.
ON BAYSTREET
The TSX Venture Exchange faded 4.41 points to 797.55
Eight of the 12 TSX subgroups were higher midday, with information technology popping 2.7%, while materials strengthened 0.8%, and energy gushed 0.7%.
Among the laggards, health-care dropped 1.9%, telecoms dipped 0.4%, and consumer staples sagged 0.2%
ON WALLSTREET
Stocks closed sharply higher on Tuesday as investor sentiment was boosted by strong results from some of the biggest U.S. companies.
The Dow Jones Industrial Average vaulted 213.59 points – though off its highs of the day -- to finish at 24,786.63, with UnitedHealth helping lead the index higher.
The S&P 500 strengthened 28.55 points, or 1.1%, to 2,706.39, as consumer discretionary picked up 1.9%, and tech gained 2%
The NASDAQ Composite index gained 124.81 points, or 1.7%, to 7,281.10, as shares of Netflix jumped 9.2% to a record high.
Netflix was the best performer in the S&P 500 after reporting in-line quarterly earnings and higher-than-expected subscriber growth.
UnitedHealth shares rose 3.6% after it reported better-than-expected earnings and raised its outlook for 2018.
Goldman Sachs posted better-than-expected earnings and revenue for the first quarter, boosted by a 38% jump in equities trading revenue. However, the stock fell 1.7% after opening higher.
Johnson & Johnson posted a profit that surpassed estimates, boosted by a strong performance by its pharmaceuticals segment. Johnson & Johnson jumped at the open but slipped to close 0.9% lower.
IBM, CSX and United Continental are among the companies set to report Tuesday after the close.
Wall Street has high expectations for this earnings season, with analysts expecting a 17.3% increase in first-quarter earnings
On the economic data front, housing starts rebounded in March, totaling 1.319 million versus estimates of 1.262 million.
Prices for the benchmark 10-year Treasury note regained strength, lowering yields to 2.82% from Monday’s 2.83%. Treasury prices and yields move in opposite directions.
Oil prices were up 26 cents a barrel to $66.48 U.S.
Gold prices slid 40 cents to $1,350.30 U.S. an ounce.
