Canadian stocks rose on Tuesday, with the benchmark TSX index set for its seventh straight month of gains on optimism over a global economic recovery aided by stimulus measures and vaccination.
The TSX Composite Index jumped 98.69 points to greet noon at 20,693.66.
The Canadian dollar sagged 0.20 cents to 79.11 cents U.S.
The largest percentage gainer on the TSX was fuel-cell products developer Ballard Power Systems Inc, up 32 cents, or 1.5%, to $21.16.
Stelco Holdings fell $1.81, or 3.6%, the most on the TSX, to $48.61
On the economic slate, Statistics Canada says real gross domestic product rose 0.7% in June, offsetting some of the declines in April and May, as 15 of 20 industrial sectors were up.
ON BAYSTREET
The TSX Venture Exchange faded 3.63 points to 891.05.
All but one of the 12 TSX subgroups remained in positive country midday, with health-care towering 2.6%, industrials leaping 1.4%, and communications better by 0.9%.
The lone holdout was in utilities, down 0.04 %.
ON WALLSTREET
Stocks hovered near record highs on Tuesday as the S&P 500 looks to wrap up its seventh straight month of gains at a record high.
The Dow Jones Industrials recovered 36.29 points to pause for lunch at 35,436.13.
The S&P 500 added 0.2 points to 4,528.99 to Monday’s record. Nike was one of the biggest losers in the Dow, falling nearly 2%.
The NASDAQ Composite sifted 13.93 points, to 15,265.89.
Zoom shares fell about 16% on Tuesday after the video-conferencing software company showed slowing revenue growth in the second quarter, weighting on the NASDAQ. The drop in shares came even as Zoom’s earnings beat estimates and the company raised full-year guidance as the pandemic took a turn for the worse. Apple and Netflix also declined.
Tuesday marks the last trading day of August, and major averages are poised to post solid gains for the period. The S&P 500 is up 3% this month, while the tech-heavy NASDAQ has climbed 4%, on pace to post its third winning month in a row. The blue-chip Dow is up a more modest 1.3%.
On Tuesday, the S&P CoreLogic Case-Shiller national home price index showed that prices were up 18.6% year over year in June. An August consumer confidence report from the Conference Board showed a larger-than-expected decline.
On the political front, the Pentagon said the U.S. has finished its evacuation efforts from Kabul’s airport, effectively ending America’s longest war.
Prices for 10-Year Treasurys were lower, raising yields to 1.31% from Monday’s 1.28%. Treasury prices and yields move in opposite directions.
Oil prices sank 32 cents to $68.89 U.S. a barrel.
Gold prices settled $1.80 to $1,810.40 U.S. an ounce.
