Stocks in Canada’s largest market found forward progress as Tuesday morning gave way to the afternoon, powered by tech and health-care concerns.
The TSX shot higher 161.1 points to 36,089/73.
The Canadian dollar leaped 0.29 cents to 71.18 cents U.S.
Traders raised their bets for a Bank of Canada interest rate hike next week, and are now pricing in nearly an 85% chance of a quarter-point increase
ON BAYSTREET
The TSX Venture Exchange regained 6.58 points to 853.29.
All but two of the 12 subgroups were positive midday, led by information technology, up 1.9%, while information technology and real-estate each marched 1.7%.
Only energy missed the party, behaving 1.3% less energetically, as well as materials, sagging 0.1%.
ON WALLSTREET
The Dow Jones Industrial Average rose on Tuesday as a number of upbeat earnings reports and a drop in oil prices overshadowed recent pressure seen among artificial intelligence-related stocks.
Shares of industrial and safety products producer 3M offered a boost to the Dow, jumping more than 5% following better-than-expected earnings results and a full-year guidance raise. Shares of aerospace and defense company Northrop Grumman also advanced 6% after it posted an earnings beat.
The 30-stock index hung onto gains of 485.23 points to 52,451.26.
The S&P 500 index moved higher 28.2 points to 7,718.93.
The tech-heavy NASDAQ kept above water 46.82 points to 26,477.71.
The market has been weighed down as of late by worries about the sustainability of the AI trade, as debt and demand concerns grow. In fact, sentiment in tech took a hit earlier in the day after Korean AI firm Elice tumbled more than 30% overnight in its public market debut.
Prices for the 10-year Treasury gained ground, lowering yields to 5.12% from Monday’s 5.14%. Treasury prices and yields move in opposite directions.
Oil prices dropped 91 cents to $102.75 U.S. a barrel.
Gold prices sank six dollars to $4,165.10 U.S. an ounce.
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