Tuesday was another day of solid gains for Canadian stocks, as industrials and tech stocks flexed their collective muscle
The S&P/TSX Composite Index climbed 49.38 points to close at 15,905.14
The Canadian dollar faded 0.19 cents to 78.89 cents U.S.
Industrials fared best on the Tuesday parade, as Bombardier moved up five cents, or 1.8%, to $2.88. Canadian National Railways chugged ahead $2.01, or 1.9%, to $105.46.
Among techs, BlackBerry nosed ahead seven cents to $13.99, while Constellation Software accumulated 70 cents to $754.35.
CIBC led a crop of prosperous financial stocks, gaining $1.34, or 1.2%, to $114.01, while Scotiabank jumped 75 cents to $82.01.
Gold dulled in price, however, as Goldcorp lost five cents to $16.42, while Barrick Gold slumped 33 cents, or 1.6%, to $20.09.
Among energy concerns, Encana Corporation skidded 41 cents, or 2.9%, to $13.68, while Cenovus Energy lost 28 cents, or 2.3%, to $11.99.
ON BAYSTREET
The TSX Venture Exchange fell backward 0.71 points to 784.48
Eight of the 12 TSX subgroups gained ground Tuesday, with industrials ahead 0.9%, information technology, up 0.7%, and financials picking up 0.6%.
The three laggards were gold, down 0.9%, energy and utilities each slumping 0.3%.
Real-estate stocks were unchanged at the close.
ON WALLSTREET
The Dow Jones industrial average rose sharply on Tuesday on the back of strong quarterly results from 3M and Caterpillar.
The 30-stock index leaped 167.8 points to 23,441.76, achieving yet another closing record, as JPMorgan Chase shares rose 1.6% to break above $100 for the first time.
The S&P 500 improved 4.15 points to 2,569.13, with financials rising to their highest level in 10 years. Corning and 3M were the best performers on the index.
The NASDAQ gained 11.6 points to 6,598.43
Caterpillar reported earnings per share of $1.95 on revenue of $11.413 billion. Analysts expected a profit of $1.27 per share on sales of $10.649 billion. Caterpillar shares rose 5%.
3M shares rose 5.9% after the company posted earnings per share of $2.33 on sales of $8.172 billion. Analysts expected a profit of $2.21 per share on revenue of $7.927 billion.
United Technologies, another Dow component, also reported better-than-expected results; its stock rose as much as 2% before closing 0.9% lower.
General Motors, Eli Lilly and Polaris Industries also rose after reporting earnings.
After the bell, AT&T, Capital One, Chipotle Mexican Grill, Discover Financial, Juniper Networks and many more are set to report earnings.
In economic news, the flash U.S. Composite Purchasing Managers’ Index rose to 55.7 in October, hitting a nine-month high. That release was accompanied by the Richmond Fed survey of manufacturing activity, which showed a slowdown in manufacturing activity in October.
Prices for the benchmark 10-year Treasury note settled, raising yields to 2.42% from Monday’s 2.37%. Treasury prices and yields move in opposite directions.
Oil prices gained 54 cents a barrel to $52.44 U.S.
Gold prices dropped $3.20 an ounce to $1,277.70 U.S.
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