Stocks in Toronto remained on their steady, upward course Tuesday, as consumer stocks showed the way.
The TSX gained 89.37 points to adjourn Tuesday at 20,269.97.
The Canadian dollar advanced 37 cents to 77.86 cents U.S.
Consumer staples had the most fun, with North West Company grabbing 97 cents, or 2.7%, to $36.48, while Premium Brands Holdings charging $2.72, or 2.7%, to $102.58.
In consumer discretionary stocks, Canadian Tire, taking on $5.49, or 3.3%, to $171.20, while Gildan Activewear tallied $1.28, or 3.1%, to $42.70.
In communications, Corus Entertainment acquired nine cents, or 2.3%, to $4.02, while Quebecor picked up 45 cents, or 1.6%, to $29.50.
On the other side of the coin, MEG Energy led energy concerns down 89 cents, or 5.3%, to $16.06, while Baytex Energy docked 32 cents, or 5%, to $6.15.
Health-care concerns took some knocks, Aurora Cannabis doffing eight cents, or 3.3%, to $2.35, while Tilray Inc. fell 12 cents, or 2.2%, to $5.42.
In real-estate, H&R REIT slipped 21 cents, or 1.5%, to $13.61, while SmartCentres REIT fell 34 cents, or 1.1%, to $29.75.
On the economic front, Statistics Canada reported foreign investors reduced their holdings of Canadian securities by $17.5 billion in June, the largest divestment since December 2018.
At the same time, Canadian investors reduced their holdings of foreign securities by $12.3 billion, following a small investment in May.
Elsewhere, the Consumer Price Index (CPI) rose 7.6% on a year-over-year basis in July, down from an 8.1% gain in June. On a seasonally adjusted monthly basis, the CPI increased 0.3% in July.
ON BAYSTREET
The TSX Venture Exchange retreated 8.93 points to 669.57.
Eight of the 12 TSX subgroups were positive by the closing bell, led by consumer staples, up 1.4%, consumer discretionary stocks, ahead 1%, and communications, better by 0.9%.
The four laggards were weighed most by energy, docking 1.1%, health-care, sliding 0.8%, and real-estate, off 0.1%.
ON WALLSTREET
The Dow Jones Industrial Average rallied on Tuesday, rising for a fifth day as earnings results from Walmart and Home Depot showed consumer spending could remain strong enough to keep the economy from tipping over into a downturn.
The 30-stock index rocketed 239.57 points to conclude Tuesday at 34,152.01.
The S&P 500 recovered 8.06 points to 4,305.20.
The NASDAQ Composite finished lower 25.5 points to 13,102.55.
Both Walmart and Home Depot rose 5% after topping earnings results as Walmart reiterated its second-half outlook and Home Depot maintained its 2022 guidance.
Retail names including Target, Best Buy and Bath & Body Works gained 4% each on the back of those results, with earnings for the sector set to continue with reports from Target and Lowe’s on Wednesday.
In other news, Bed Bath & Beyond shares staged a rally, closing up more than 29% as Reddit traders once again bet big on the stock.
Wall Street is coming off a solid session, with the major averages all rising Monday after a sharp intraday turnaround. The move higher built on the market’s rally off a June low.
Treasury prices were down slightly, raising yields to 2.81% from Monday’s 2.80%. Treasury prices and yields move in opposite direction.
Oil prices lost $2.76 to $86.65 U.S. a barrel.
Gold prices fell $7.60 to $1,790.50 U.S. an ounce.
