Canada’s main stock index edged up on Tuesday, as the tech sector mirrored global equities that rose on hopes of a resolution to the months-long U.S.-china tariff war ahead of U.S. President Donald Trump’s speech.
The TSX Composite Index remained 30.27 points to greet noon at 16,913.03
The Canadian dollar inched higher 0.02 cents to 75.58 cents U.S.
The largest percentage gainers on the TSX were Franco Nevada, gaining $2.04, or 1.6%, to $128.70, and Semafo, ahead five cents, or 1.9%, to $2.68.
Hudbay Minerals Inc fell 36 cents, or 7.4%, the most on the TSX, to $4.49, after the company reported a loss in its second quarter.
ON BAYSTREET
The TSX Venture Exchange stayed aloft 1.41 points at 536.01
Seven of the 12 Toronto subgroups had sunk into the red by noon hour. Gold and materials each faded 0.6%, while utilities wilted 0.3%.
The five gainers were led by health-care, better by 0.8%, energy, sparking 0.3%, and financials, up 0.2%.
ON WALLSTREET
Stocks rose on Tuesday as investors awaited a speech from President Donald Trump on trade and economic policy.
The Dow Jones Industrial Average acquired 37.91 points to yet another record of 27,729.40.
The S&P 500 gained 9.26 points, to 3,096.27 to reach a fresh intraday record
The NASDAQ spiked 36.02 points to 8,500.30, also to reach another fresh intraday record.
Semiconductor stocks such as Marvell Technology sprouted up 3.6%, and Micron Technology advanced 2.3%.
Rockwell Automation shares surged more than 19% after the company posted quarterly results that beat expectations along with stronger-than-forecast guidance. However, Advance Auto Parts slid around 8% on disappointing same-store sales for the previous quarter.
Trump is scheduled to speak at noon ET at the Economic Club of New York where he could give clues to the status of trade talks between the U.S. and China. His speech comes amid questions regarding plans to sign a trade deal in the coming weeks.
Bond trading resumed Tuesday, after a long weekend, and prices for the 10-Year U.S. Treasury were unchanged at Friday’s 1.93%.
Oil prices gained 18 cents to $57.04 U.S. a barrel.
Gold prices fell $2.80 to $1,454.30 U.S. an ounce.
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