Stocks continued on their roll Tuesday, with indices in Toronto extending their winning streak to three sessions, powered mostly by health-care and energy issues.
The S&P/TSX Composite Index came off its highs of the morning, but still succeeding in finishing positive 156.17 points, or 1%, to 15,515.83.
The Canadian dollar docked 0.05 cents at 73.82 cents U.S.
Health-care issues proved the star of the show, with Bausch Health Companies jumping $1.96, or 8.1%, to $26.11. Canopy Growth improved $1.36, or 6%, to $24.03.
Energy stocks triumphed, with Pason Systems progressing 77 cents, or 10.6%, to $8.05, while Secure Energy Services took on 12 cents, or 7%, to $1.84.
In the industrial sector, Bombardier took flight four cents, or 8.7%, to 51 cents, while Mullen Group surged 75 cents, or 10.7%, to $7.77.
Gold and materials faded Tuesday, as Alamos Gold dipped 46 cents, or 4.2%, to $10.38, while Kinross Gold let go of 32 cents, or 3.6%, to $8.51.
First Majestic Silver parted with 54 cents, or 4.4%, to $11.87, while Silvercorp Metals dropped 34 cents, or 5.2%, to $6.23.
On the economic beat, Statistics Canada said foreign investment in Canadian securities reached a record-high of $49 billion in April, all in debt securities.
Meanwhile, Canadian divestment in foreign securities eased considerably to $134 million.
ON BAYSTREET
The TSX Venture Exchange stayed in the green 2.64 points to 562.46.
All but two of the 12 TSX subgroups remained in positive territory by the end of the session Tuesday, with health-care haler by 4.5%, energy better by 2%, and industrials, up 1.5%.
The two laggards were gold, down 2.6%, and materials, off 1.5%.
ON WALLSTREET
Stocks rose on Tuesday as a record jump in retail sales — coupled with positive trial results from a potential coronavirus treatment and hopes of more stimulus — sent market sentiment soaring.
The Dow Jones Industrials leaped 526.82 points, or 2%, to 26,289.98.
The S&P 500 soared 58.15 points, or 1.9%, to 3,124.74.
The NASDAQ leaped 169.84 points, or 1.8%, to 9,895.87. It was the third straight gain for the major averages.
The U.S. government reported a record 17.7% increase in retail sales for May. Economists polled by Dow Jones expected a gain of 7.7%.
Meanwhile, multiple reports said dexamethasone — a widely available drug — can help critically-ill cornavirus patients. The treatment reportedly reduced COVID-19 deaths in hospitalized patients by up to one third.
Shares of companies that would benefit from the economy reopening led the gains. United, Delta and American Airlines all rose at least 2%. Norwegian Cruise Line, Carnival and Royal Caribbean jumped more than 2.7% each. Kohl’s gained 9% and Simon Property advanced 1.5%.
Sentiment was also lifted after reports the Trump administration is drawing up a $1-trillion infrastructure proposal.
The reports said a preliminary version being prepared would set aside the majority of the money for traditional infrastructure projects such as roads and bridges, though funds would also be reserved for 5G wireless infrastructure and rural broadband.
Prices for the 10-Year Treasury dropped, boosting yields to 0.75% from Monday’s 0.71%. Treasury prices and yields move in opposite directions.
Oil prices gained 97 cents to $38.09 U.S. a barrel.
Gold prices advanced $7.70 to $1,734.90 U.S. an ounce.
Retail Sales Pump Dow Up 500+
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