Canada's main stock index made headway on Tuesday, led by gains in the financial and energy sectors, as the Federal Reserve was set to start a two-day meeting to discuss monetary policy and the prospect of higher interest rates.
The S&P/TSX composite index moved higher 76.60 points to greet noon at 14,545.60. It is up more than 6% from an eight-month low it hit nearly two weeks ago.
The Canadian dollar was up 0.59 cents to 89.47 cents U.S.
Financials advanced as Toronto Dominion Bank rose 1% to $54.74, and Bank of Nova Scotia added 0.7% to $68.40.
Shares of energy producers were up, with Talisman Energy gaining 1.6% to $7.11 and Suncor Energy climbing 0.8% to $38.44.
ON BAYSTREET
The TSX Venture Exchange fell 3.82 points to 786.53.
All but three of the 14 Toronto subgroups were higher by noon, with metals and mining stocks gaining 1.8%, while information technology and utilities were each up 0.7%.
The three laggards were gold and real-estate, each subsiding 0.1%, while consumer staples stepped back a miniscule 0.02%.
ON WALLSTREET
U.S. stocks rose on Tuesday as strong earnings and an upbeat consumer confidence reading more than offset weaker-than-expected housing and industrial data.
The Dow Jones Industrials added 57.03 points to 16,874.97
The S&P 500 gathered 10.97 points to 1,972.40. The NASDAQ index gained 47 points to 4,532.93.
Ranking among the largest percentage gainers on the S&P 500 were Amgen, AutoNation and Cummins, which reported earnings between late Monday and Tuesday morning. Their gains overshadowed declines in Kohl's, Coach and Freeport McMoRan.
Twitter shares fell 10.2% to $43.63 U.S. a day after it posted a slide in a closely watched measure of engagement, even as its user base grew in the third quarter.
The largest percentage gainer on the S&P 500 was Whirlpool, which rose 7.2%, while the largest decliner was Kohl's, down 7.5%.
On the NASDAQ, the largest gainer was Tesla, which rose 7.1%, while the largest decliner was Ross Stores, down 1.3%.
Madison Square Garden shares jumped 10.8% to $72.91 U.S., a day after the owner of the New York Knicks and New York Rangers said it was mulling a plan to separate its entertainment business from its media and sports business.
U.S. consumer confidence rose in October to its highest since October 2007 as views on the job market improved, but separate data showed new orders for capital goods by U.S. businesses fell the most in eight months in September. U.S. single-family home prices rose in August on a year-over-year basis but fell short of expectations.
Weaker-than-expected economic reports sapped sentiment ahead of the opening bell. Government data showed orders for durable goods fell unexpectedly in September, while home prices edged up by less than forecast in August.
Investors turn their attention to the two-day Federal Open Market Committee meeting that concludes on Wednesday, at which the Federal Reserve officials are widely expected to end the bond-buying stimulus program.
Prices for 10-year U.S. Treasuries dipped, raising yields to 2.28% from Monday’s 2.26%. Treasury prices and yields move in opposite directions.
Oil prices slipped 14 cents to $80.86 U.S. a barrel.
Gold prices fell 30 cents to $1,229 U.S. an ounce.
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