Equities in Canada’s largest centre stepped on the gas pedal Tuesday, and enjoyed triple-digit gains, on the backs of gold and health-care issues.
The S&P/TSX Composite leaped 155.73 points, or 1.1%, to end Tuesday at 14,752.25
The Canadian dollar inched up 0.01 cents to 76.18 cents U.S.
Barrick Gold was the standout in a sea of strong gold stocks Tuesday, adding 61 cents, or 2.9%, worth of strength to $21.47, while Goldcorp climbed 39 cents, or 2%, to $19.49.
In the materials sector, HudBay Minerals jumped 40 cents, or 8%, to $5.40, while First Quantum Minerals rocketed $1.03, or 9.7%, to $11.62.
Among health-care issues, Canopy Growth moved skyward 69 cents, or 11.7%, to $6.59, while CRH Medical perked 11 cents, or 1.9%, to $6.07.
Valeant Pharmaceuticals triumphed 89 cents, or 3.2%, to $28.97.
On the economic slate, Statistics Canada reported manufacturing in this country increased 0.9% to $51.1 billion in August, reflecting higher sales of food, primary metal, and petroleum and coal products.
ON BAY STREET
The TSX Venture Exchange sprang up 11.36 points, or 1.5%, to 783.64
All but one of the 12 TSX subgroups were positive, with gold shining brighter 3.4%, materials stronger 3.3%, and health-care up 1.1%.
The lone laggard was in consumer discretionary stocks, off 0.3%
ON WALL STREET
Stocks closed higher on Tuesday, helped by stronger-than-expected quarterly reports and after mixed inflation data.
The Dow Jones Industrials strengthened 75.54 points to close at 18,161.94, with UnitedHealth Group leading advancers and IBM the top decliner.
The S&P 500 recovered 13.1 points to 2,139.60, with materials and health-care leading all 11 sectors higher.
The NASDAQ composite index picked up 44.01 points to 5,243.84
Goldman Sachs continued what has already been a very strong earnings season for the big banks, easily beating estimates on both the top and bottom line. Johnson & Johnson also beat Wall Street estimates.
On Monday after the close, streaming giant Netflix beat expectations on both lines, bolstered by international subscriber growth that blew away any guidance. Netflix shares rose nearly 20% Tuesday.
Health insurance giant UnitedHealth saw its stock pop nearly 7% on the back of strong quarterly results.
With 52 S&P components having reported as of Tuesday morning, third-quarter earnings have shown growth of 8.2%. Of the 52 firms that have reported, 83% have beaten bottom-line estimates
The U.S. Labor Department said on Tuesday its Consumer Price Index rose 0.3%, meeting expectations. However, the so-called core CPI rose just 0.1% missing expectations.
Prices for the 10-year Treasury regained strength, lowering yields to 1.75% from Monday’s 1.77%. Treasury prices and yields move in opposite directions.
Oil prices were up 43 cents at $50.37 U.S. a barrel
Gold prices regained $6.60 to $1,263.20 U.S. an ounce.
Related Stories
