Canada's main stock index scaled to a fresh intraday record high on Tuesday, lifted by gold mining and energy shares, as gold prices hit new peaks.
The TSX Composite Index gained 73.63 points to begin Tuesday’s session at 30,032.61.
The Canadian dollar faded 0.04 cents to 72.29 cents U.S.
In corporate news, TD Bank named JPMorgan veteran Jon Rasmussen as its U.S. chief compliance officer, according to a memo seen by Reuters.
TD began the trading day down 16 cents to $109.40
The Trump administration was re-evaluating Lithium Americas' $2.3-billion loan for the development of a Nevada lithium deposit, a Bloomberg report said. American-listed shares of the company dropped almost 4% in premarket trading.
Lithium Americas shares gave back 22 cents, or 4.8%, to $4.34.
Gold miners added 1.5% as the safe-haven asset hit a new record high of $3,790.82 earlier in the session. Perpetua Resources rose 38 cents, or 1.5%, to $26.48. while Novagold was raised 39 cents, or 3.7%, to $10.99, and B2Gold was up 25 cents, or 3.8%, to $6.83.
The energy sector gained as oil prices rose. Vermilion Energy picked up 73 cents, or 6.8%, to $11.40, and Baytex Energy rose 19 cents, or 5.7% to $3.53.
Conversely, tech stocks came under pressure with heavyweight e-commerce company Shopify falling $5.42, or 2.5%, to $211.85.
MDA Space added 70 cents, or 2.1%, to $33.81, after the company announced a multi-year partnership with Ottawa Senators.
Kinross Gold rose 43 cents, or 1.3% to $33.93, after selling a portion of its Asante Gold shares for $73 million.
On the economic beat, Statistics Canada reported new housing price index decreased 0.3% in August, compared to a drop of 0.1% the month before.
ON BAYSTREET
The TSX Venture Exchange nicked up 1.43 points to 923.76
Eight of the 12 subgroups were in plus territory, led by energy, up 2.4%, health-care, ahead 1.3%, and gold, better by 0.7%.
The four laggards were weighed most by information technology, down 0.7%, while industrials, sliding 0.4%, and consumer discretionary stocks, trailing 0.3%.
ON WALLSTREET
The S&P 500 reached new heights on Tuesday as investors monitor the risks to the market’s rally to record levels.
The Dow Jones Industrials screamed higher 234.73 points to 46,616.27.
The much-broader index doffed 3.78 points to 6,689.97
The tech-heavy NASDAQ fell 70.94 points to 22,718.33
The Dow’s move was supported by a move higher in Boeing. The stock rose on the heels of President Donald Turmp praising Uzbekistan’s president, Shavkat Mirziyoyev, for signing a “GREAT Deal” with the aerospace company that was worth more than $8 billion. Shares were also bolstered by talks between the U.S. and China of a “huge” Boeing deal.
The three major averages closed at all-time highs on Monday — marking three straight winning sessions for the S&P 500 — and recorded fresh intraday records that day. Gains accelerated in the latter half of the trading session after Nvidia shares jumped nearly 4% higher on the back of an announcement from the chipmaker that it will invest $100 billion in OpenAI for the buildout of data centers.
Investors are also watching the increasing chance of a government shutdown ahead of a Sept. 30 deadline after the Senate last week rejected Republican and Democratic proposals to at least temporarily fund the federal government.
On Tuesday, Trump seemed to cancel a planned meeting this week with top Democrats in Congress, saying that no meeting with them regarding the shutdown “could possibly be productive.”
Prices for 10-year Treasury eked up Tuesday, pushing yields down to 4.14% from Friday’s 4.15%. Treasury prices and yields move in opposite directions.
Oil prices regained $1.31 to $63.59 U.S. a barrel.
Gold prices surged $30.70 to $3,805.80 U.S. an ounce.
