Equities in Canada’s largest market made their way skyward Tuesday, as resource and industrial issues powered the rise.
The TSX jumped 193.88 points to finish Tuesday at 33,970.38.
The Canadian dollar skidded 0.05 cents at 72.97 cents U.S.
Canada's largest banks are expected to report another quarter of strong earnings, with Bank of Nova Scotia to kick off the first-quarter earnings today.
Scotiabank shares dipped 69 cents to conclude the session at $103.32.
In corporate news, Whitecap Resources reported quarterly results after the bell on Monday, beating analysts' estimates. Whitecap lost 17 cents, or 1.2%, to $13.59.
Shares of Thomson Reuters climbed $12.61, or 11.4%, to $123.45, while Finning International triumphed $3.06, or 3.5%, to $91.75.
Materials were evenly higher on the scale, with Ero Copper bursting out $3.24, or 7.6%, to $45.90, while Lithium Americas grew 62 cents, or 9.9%, to $6.88.
In gold stocks, Aya Gold sprang $1.68, or 6.6%, to $27.27, while B2Gold hiked 50 cents, or 6.4%, to $8.35.
Consumer staples proved a downer on the day, with Loblaw off $1.74, or 2.5%, to $67.52, while Metro lost $1.57, or 1.6%, to $97.97.
In tech news, Tecsys faded 61 cents, or 2.5%, to $23.95, while Constellation Software dived $38.52, or 1.6%, to $2,368.45.
Energy was missing its spark, as Imperial Oil docked $4.27, or 2.6%, to $2,368.45, while Terravest Capital fell $3.11, or 2%, to $154.40.
Loblaw fell $2.03, or 2.9%, to $67.23, retreating from the previous session's sharp gains on the announcement of a $1.75-billion investment.
ON BAYSTREET
The TSX Venture Exchange gained 14.28 points, or 1.4%, to 1,065.30.
Seven of the 12 TSX subgroups were higher, with materials up 2.2%, while gold and industrials each climbed 1.5%.
The five laggards were weighed most by consumer staples, down 1.5%, while energy lost 0.3%, and financials eked down 0.1%.
ON WALLSTREET
U.S. equities rose on Tuesday, led by gains in Advanced Micro Devices and software stocks, as investors’ fears around artificial intelligence disruption to certain industries eased.
The Dow Jones Industrial Average spiked 370.75 points to 49,174.81, supported by a nearly 2% rise in Home Depot shares after the company’s earnings beat expectations for the first time in a year. IBM shares, which tumbled in the prior trading day as a result of aforementioned AI fears, added to the Dow’s gains.
The much-broader index gained 52.36 points to 6,890.11.
The NASDAQ hurtled higher 236.41 points, or 1.1%, to 22,863.68.
Shares of AMD jumped 8% after Meta announced a multiyear deal with the semiconductor company. The new partnership entails deploying up to 6 gigawatts of AMD’s graphics processing units for AI data centers. Meta will also invest in AMD through a performance-based warrant for up to 160 million shares of the chipmaker.
The move comes a week after Meta said it’s using millions of Nvidia’s chips in its data center buildout. Shares of the AI chip darling were last up 0.5%.
DocuSign was also a winner, increasing 2% after Anthropic said that its Claude Cowork is now able to be connected to DocuSign as well as organizations’ other existing tools like Google Drive and Gmail. The move offered some optimism to investors that AI might be able to complement software companies rather than take their place.
That extended to other areas of the software space. Shares of Salesforce — which has been working with Anthropic as well — and ServiceNow were up 4% and 1%, respectively
Major averages fell Monday on renewed fears of AI disruptions to various industries. President Donald Trump’s threat to hike global tariffs to 15% and tensions between the U.S. and Iran also kept traders on edge. A global 10% U.S. tariff took effect Tuesday.
Prices for the 10-year Treasury gained ground, lowering yields to 4.04% from Monday’s 4.03%. Treasury prices and yields move in opposite directions.
Oil prices dropped a penny to $66.30 U.S. a barrel.
Gold prices dropped $39.50 to $5,186.10 U.S. an ounce.
