Canada's main stock index rose on Tuesday, rebounding after Friday's selloff, with investors optimistic about the U.S. Federal Reserve cutting interest rates in September.
The TSX Composite Index rocketed 482.53 points, or 1.8%, to begin the day and the week at 27,502.96.
Markets in Canada were closed Monday for Civic Holiday.
The Canadian dollar shrank 0.1 cents at 72.52 cents U.S.
On the economic slate, Statistics Canada reported that in June, Canada's merchandise imports were up 1.4%, while exports increased 0.9%. As a result, Canada's merchandise trade deficit with the world widened from $5.5 billion in May to $5.9 billion in June.
ON BAYSTREET
The TSX Venture Exchange recovered 20.21 points, or 2.7%, to 781.70.
All 12 TSX subgroups sprang to life in the first hour on Tuesday, with gold soaring 6.1%, while materials ballooned 4.3%, and information technology picked up 3%.
ON WALLSTREET
Stocks were little changed Tuesday, as traders assessed fresh Palantir earnings as well as new tariff comments from President Donald Trump and weak earnings from some major industrial names.
The Dow Jones Industrial Average ditched 77.77 points to 44,095.87.
The S&P 500 removed 5.32 points to 6,324.62
The NASDAQ tacked on 22.64 points to 21,076.22.
Palantir shares jumped 7% as the defense technology company said revenue surpassed $1 billion for the first time. On the other hand, Eaton shares dipped 6% due to disappointing guidance. Caterpillar reported an earnings miss, but shares were up 1%.
Also keeping gains in check, Trump told CNBC that tariffs on chips, as well as pharmaceuticals, were coming soon.
Investors on Tuesday will watch for more earnings reports, with names like Snap, Advanced Micro Devices and Rivian scheduled for after the close. Out of the roughly 370 companies in the S&P 500 that have already reported this reporting season, more than 81% have beaten expectations.
The 10-year note yield was more than two basis points higher at 4.222%.
Oil prices retreated 88 cents to $65.41 U.S. a barrel.
Gold prices gained $4.20 at $3,430.60 U.S. an ounce.
