Equities in Canada’s largest market remained positive late morning Tuesday, as energy stocks gained from steadying oil prices while materials were lifted by slightly higher gold.
The S&P/TSX Composite Index held onto 51.61 points to greet Tuesday noon at 16,472.45
The Canadian dollar gained 0.06 cents at 75.99 cents U.S.
On the earnings front, Canadian National Railway is set to post its quarterly results after market close. The company earlier on Tuesday gave interim Chief Executive Officer Jean-Jacques Ruest the role on a permanent basis.
Shares of Canadian National Railway forfeited 72 cents to $111.89.
Top percentage gainers on the TSX were shares of First Quantum Minerals, which jumped $1.06, or 5.9%, to $18.91, and Lundin Mining, which rose 33 cents, or 4.7%, to $7.35.
Torex Gold Resources fell 82 cents, or 7.5%, to $10.10, to become top decliner on the TSX after a downgrade from TD Securities. Gildan Activewear, down $1.98, or 5.3%, to $35.13, was the second-biggest decliner.
ON BAYSTREET
The TSX Venture Exchange sagged 0.13 points to 710.18.
The 12 TSX subgroups were neatly split between gainers and losers, materials leading the former group, up 1.2%, while energy rumbled ahead 1.1%, and financials prospered 0.5%.
The half-dozen laggards were weighed most by health-care, down 1.6%, consumer staples, falling 0.8%, industrials, off 0.6%.
ON WALLSTREET
The NASDAQ Composite notched a record high Tuesday after strong financial results from Google-parent Alphabet led a wave of upbeat corporate earnings and a swell in technology stocks.
The Dow Jones Industrials soared 202.58 points to 25,246.87, with aircraft maker Boeing and United Technologies leading the blue-chip names.
Dow component United Technologies posted stronger-than-expected earnings and raising its full-year profit guidance, pushing its stock up 1.1%.
The S&P 500 climbed 14.53 points to 2,821.51, thanks to gain in materials, information technology and energy stocks.
The NASDAQ gained 22.33 points to 7,864.22, buoyed by the rally in tech stocks, rose more than 1% to an all-time high before retreating to a gain of 0.5%
Alphabet shares surged 4.2% to a record after the company reported stronger-than-forecast quarterly results. Wall Street's top analysts are growing more confident over the prospects for many of Alphabet’s emerging businesses including YouTube, autonomous cars and cloud computing.
Facebook picked up 1.5% to an all-time high — while Amazon rose 1.4%
Eli Lilly also reported better-than-expected earnings. The company said it plans to file an initial public offering for its Elanco Animal Health unit as well. Shares of Eli Lilly rose 1.5%.
Biogen shares jumped more than 5.1% after reporting earnings and revenue that beat expectations. Dow component United Technologies posted stronger-than-expected earnings and raising its full-year profit guidance, pushing its stock up 1.1%.
The earnings season is off to a strong start. Of the 21.4% of S&P 500 companies that have reported, 80.6% have topped analyst expectations for second-quarter earnings. Meanwhile, 74.1% of those companies have surpassed revenue estimates.
Prices for the benchmark for the 10-year U.S. Treasury were lower, raising yields to 2.97% from Monday’s 2.96%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.10 to $68.99 U.S. a barrel.
Gold prices recovered 30 cents to $1,225.90 U.S. an ounce.
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