North American stocks bounced back on Tuesday, after Shanghai shares slowed their slide and European stocks stabilized.
The S&P/TSX composite index 75.99 points to finish Tuesday at 14,077.36
The Canadian dollar hiked 0.66 cents to 77.35 cents U.S.
Base metals proved the most solid among the gainers on the markets, with Taseko Mines screaming higher five cents, or 8.5%, to 64 cents, while Thompson Creek Metals climbed five cents, or 7.3%, to 74 cents.
Energy stocks also recovered their groove, with Bellatrix Exploration up 17 cents, or 6.8%, to $2.67, and Cenovus Energy gaining $1.01, or 5.9%, to $18.26.
Tech stocks made something of a comeback as well, as Sierra Wireless improved $1.85, or 6.1%, to $32.14, while 5N Plus tacked on six cents, or 6.1%, to $1.05.
One of the few dull spots Tuesday was in consumer staples, as Metro Inc. dove 95 cents, or 2.7%, to $34.65, and Cott Corporation dumped 16 cents, or 1.2%, to $13.32.
On the economic front, Statistics Canada reported that its Industrial Product Price Index hiked 0.5% in June, mainly because of higher prices for energy and petroleum products and motorized and recreational vehicles.
The Raw Materials Price Index was unchanged in June, as lower prices for metal ores, concentrates and scrap were mostly offset by higher prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange moved positive 4.36 points to close Tuesday at 586.07
All but two of the 14 TSX subgroups were higher on the day, as global base metals rocketed 2.4%, energy gained 1.9%, and the metals and mining sector picked up 1.8%
The two laggards were consumer staples, down 0.8%, while utilities slid 0.1%.
ON WALLSTREET
U.S. stocks closed higher by nearly 1% or more on Tuesday as investors found encouragement from some recovery in Chinese stocks and oil prices, amid mixed earnings and the beginning of the Federal Reserve's two-day meeting.
The Dow Jones industrial average leaped 189.68 points, to 1.1%, to 17,630.27, with Exxon Mobil, Chevron and Caterpillar among the greatest advancers.
The S&P 500 added 25.51 points, or 1.2%, to 2,083.31.
The NASDAQ index gained 48.02 points, or nearly 1%, to 5,087.80
Earnings season continues with Ford and UPS posting results before the bell and Twitter and Buffalo Wild Wings reporting after the close.
Ford posted its best quarterly performance since 2000, with quarterly profit topping estimates and marking the automaker's highest every quarterly profit for North America.
UPS reported higher second-quarter net profit as improved margins offset a drop in revenue, Reuters reported. However, total revenue fell 1.2% from a year ago due to the strong U.S. dollar and lower fuel surcharges.
The stock jumped more than 5.5% to boost the Dow transports more than 2.5%
Pfizer raised its full-year forecast on rising sales of its newer drugs and beat expectations on both the top and bottom lines.
DuPont posted earnings that matched estimates on revenue that missed. The firm also lowered its outlook for the year on lower corn and soybean volumes as well as weaker demand for its crop protection products.
In economic news, U.S. consumer confidence for July came in at 90.9, missing expectations and posting a decline from June's read of 99.8.
The Case-Shiller 20-city home price index rose 4.9% in May from the same period last month, matching April's pace. The gain missed expectations for a 5.6% increase.
The Markit flash services PMI rose slightly from a five-month low, hitting 55.2 in July. The average for the year so far is 56.3.
The Federal Open Market Committee begins its two-day meeting Tuesday. No press conference is scheduled at its conclusion Wednesday afternoon.
Prices for 10-year U.S. Treasuries sagged, raising yields to 2.25% from Monday’s 2.22%. Treasury prices and yields move in opposite directions.
Oil prices hiked 30 cents a barrel to $47.69 U.S.
Gold prices ditched $1.70 to $1,095.20 U.S. an ounce.
Related Stories
