Markets in Toronto perked as more economic data rolled in from both sides of the border, giving investors a spring in their collective step.
The S&P/TSX composite index 72.57 points to begin the trading day at 13,259.10
The Canadian dollar strengthened 0.14 cents to 97.20 cents U.S.
In Canada, traders will take in earnings after the close from Canadian National Railways. Canadian Pacific Railway reports on Wednesday and both are expected to show rising revenues from greater shipments of crude oil. CN shares added nine cents to $109.99, while CP shares took on 11 cents to $134.35.
Absolute Software Corp. is raising its quarterly dividend to six cents per share, a 20% increase, starting with the next payout to shareholders in November. The company provides software for tracking and managing computers, laptops, tablets and smartphones. Absolute shares gained 12 cents to $7.61.
On the economic beat, Statistics Canada said the retail sales trade edged up 0.2% to $40.2 billion in August. Market call was for a rise of 0.3%. Higher sales at food and beverage stores were partially offset by weaker sales at motor vehicle and parts dealers and gasoline stations. Gains were reported in six of 11 subsectors, representing 56% of total retail trade.
ON BAYSTREET
The TSX Venture Exchange gained 1.58 points to 961.48
All but one of the 14 Toronto subgroups were higher to begin the session, led by gold, up 3.3%, while materials and global base metals hiked 2.1% each.
Information technology stocks sputtered 0.1%, the lone laggard.
ON WALLSTREET
The September jobs report wasn't great, but stocks rose Tuesday as investors anticipated that lackluster hiring will push the U.S. Federal Reserve to keep its monetary stimulus as is in the months ahead.
The Dow Jones Industrials spiked 94.11 points soon after the opening bell to 15,486.30
The S&P 500 index gained 9.26 points to 1,753.82. The NASDAQ picked up 23.52 points to 3,943.57
Netflix shares surged to an all-time high after the company reported strong quarterly earnings and issued a rosy outlook.
Delta shares also jumped after the airline reported quarterly profit growth.
DuPont reported slightly better quarterly earnings, boosted by a lower tax rate and growth in its electronics and communications business.
Coach posted earnings and sales that missed forecasts, led by a drop in domestic sales. The one bright spot was China, where sales jumped 35%.
Lockheed Martin shares rose after the aircraft manufacturer reported a jump in quarterly profit, year over year, and increased its full-year outlook. The good news came despite the government shutdown, which led Lockheed and other defense contractors to furlough some workers
Apple will be in the spotlight in the afternoon, when it hosts an event at which it is expected to unveil a new version of the iPad.
Nokia, which is selling its device business to Microsoft, unveiled its first full-size tablet and a pair of big-screen colorful Lumia smartphones earlier Tuesday.
The jobs report, which was delayed more than two weeks because of the government shutdown, showed the economy gained just 148,000 jobs last month. But the unemployment rate ticked down to 7.2%, the lowest in nearly five years
Still, the numbers suggest that the U.S. economic recovery remains fragile and that the Fed will likely keep buying $85 billion U.S. in bonds each month for a bit longer.
The Fed has repeatedly said it wants to see more improvement in the job market before it decides to begin scaling back, or tapering, its bond buying program.
Prices for the 10-year U.S. Treasury zoomed higher, lowering yields to 2.54% from Monday’s 2.61%. Treasury prices and yields move in opposite directions.
Oil prices fell 12 cents to $99.10 U.S. a barrel.
Gold prices climbed $13.80 to $1,329.60 U.S. an ounce.
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