Stocks Remain Positive by Noon

Canfor, Interfor Grab Attention

Equities in Canada’s largest centre rose on Tuesday, tracking gains in global equities as investors anticipate major central banks to cut interest rates in the near future.

The S&P/TSX Composite came off its highs of the morning, but acquired 31.93 points to approach noon ET at 16,550.81

The Canadian dollar declined 0.09 cents to 76.09 cents U.S.

The largest percentage gainers on the TSX were Canfor Corp, which jumped 39 cents, or 3.7%, to $10.84, followed by shares of Interfor Corp., which rose 41 cents, or 3.4%, to $12.60.

SNC Lavalin fell $2.05, or 8.6%, the most on the TSX, to $21.75, followed by those of Semafo, which fell 16 cents, or 3%, to $5.27.


The TSX Venture Exchange docked 3.05 points to 590.83

The 12 Toronto subgroups were divided evenly midday, as consumer discretionary stocks sprinted 1.4%, consumer staples were better by 0.5%, and financials were richer by 0.4%.

The half-dozen laggards were weighed most by gold, dulling in price by 1.1%, materials, sliding 0.5%, and communications, off 0.2%.


Stocks rose on Tuesday as investors cheered strong quarterly numbers from companies like Coca-Cola and United Technologies.

The Dow Jones Industrials came off its lows of the morning as well, but still gained 54.34 points to 27,226.24,

The S&P 500 poked ahead 5.16 points to 2,990.19,

The NASDAQ Composite dipped 2.43 points to 8,201.70

Coca-Cola shares jumped more than 4% after the company posted earnings and revenue that topped analyst expectations. Coca-Cola pointed to a 4% rise in volume and transactions during the previous quarter in Coke’s namesake brand. Volume from its Zero Sugar line also grew by double digits.

United Technologies, another Dow component, reported better-than-expected quarterly results and its stock gained 1.7%. CEO Gregory Hayes pointed to "outperformance" from its Collins Aerospace division as a driver for the strong quarter. The company also raised its full-year outlook for earnings and organic sales growth.

Biogen also reported better-than-expected earnings, sending its stock up 5%.

Visa, Chipotle and Snap are among those reporting after the bell.

More than 18% of S&P 500 companies have posted quarterly numbers this earnings season. Of those companies more than 78% have reported better-than-expected profits. Those companies have also seen their earnings grow by an aggregate of 3.6%.

Prices for the benchmark 10-year U.S. Treasury gained back lost ground, dropping yields back to Monday’s 2.05%. Treasury prices and yields move in opposite directions.

Oil prices were static at $56.22 U.S. a barrel.

Gold prices descended $5.10 to $1,421.80 U.S. an ounce.