Stocks in Toronto recaptured ground lost soon after the opening on Tuesday, as resource stocks exercised more of their power.
The S&P/TSX Composite Index recovered 37.8 points to greet noon Tuesday at 15,427.52.
The Canadian dollar progressed 0.24 cents to 73.48 cents U.S.
Canadian markets will be shuttered Wednesday for Canada Day.
Alamos Gold progressed 45 cents, or 3.6%, to $12.85, while Torex Gold Resources picked up 70 cents, or 3.4%, to $21.33.
First Majestic Silver took on 47 cents, or 4.6%, to $10.65, while Interfor increased 53 cents, or 4.8%, to $11.50.
Real-estate issues prospered, too, as units of Boardwalk REIT captured 98 cents, or 3.4%, to $29.64, while Killam Apartment REIT gained 37 cents, or 2.2%, to $17.49.
Among energy issues, Tourmaline Energy docked 49 cents, or 4%, to $11.81, while Frontera Energy faded 11 cents, or 3.2%, to $3.35.
In the health-care sector, Aurora Cannabis dipped 71 cents, or 4.2%, to $16.31, while HEXO lost three cents, or 2.9%, to 99 cents.
In the communications field, Cineplex took a bath, $1.73, or 17.4%, to $8.19, while Quebecor fell 75 cents, or 2.6%, to $28.55.
Economically speaking, Statistics Canada reported Gross Domestic Product dropped 11.6% in April, following a 7.5% decline in March, as all 20 industrial sectors decreased.
ON BAYSTREET
The TSX Venture Exchange gained 11.72 points, or 1.9%, to 619.97.
Seven of the 12 TSX subgroups regained ground, with gold soaring 1.9%, materials rumbling ahead 1.8%, and real-estate up 0.9%.
The five laggards were weighed most by energy, down 1.7%, health-care, off 1.5%, and communications, sliding 0.4%.
ON WALLSTREET
Stocks rose on Tuesday as Wall Street wrapped up its best quarterly performance in decades.
The Dow Jones Industrials recoverd 19.19 points to pause for lunch Tuesday at 25,614.99.
The S&P 500 gained 29.45 points, or 1%, to 3,082.66.
The NASDAQ Composite sprinted 141.14 points, or 1.4%, to 10,015.04.
Apple rose nearly 1% to lead the Dow higher. Amazon and Netflix advanced 1.9% and 1.1%, respectively. Micron jumped more than 6% following the company’s better-than-expected earnings report. Micron gave strong forward revenue guidance. Shares of Lululemon gained 4.8% on news it will acquire at-home fitness company Mirror for $500 million.
Stocks headed for their biggest one-quarter gains in years. Both the Dow and S&P 500 were on pace for their best quarterly performance since 1998, surging more than 16% each. The NASDAQ meanwhile, was up 28.2% quarter to date and was headed for its biggest quarterly gain since 2001.
Those gains came amid a backdrop of increasing coronavirus cases in the U.S. and states attempt to reopen from the shutdown. U.S. governors are walking back or delaying reopening plans as COVID-19 cases climb around the country. New Jersey Gov. Phil Murphy announced the state will delay a resumption of indoor dining that was planned for Thursday.
Federal Reserve chair Jerome Powell and Treasury Secretary Steven Mnuchin will testify before the House Financial Services Committee at 12:30 p.m. EDT on Tuesday. The joint hearing will address the Fed and Treasury’s response to the coronavirus pandemic.
In remarks he will deliver Tuesday, Powell said uncertainty reigns over the outlook for the economy in the wake of the coronavirus pandemic.
Prices for the 10-Year Treasury slumped, raising yields to 0.66% from Monday’s 0.64%. Treasury prices and yields move in opposite directions.
Oil prices lost 11 cents to $39.59 U.S. a barrel.
Gold prices added $17.40 to $1,798.60 U.S. an ounce.
