Canada's main stock index opened higher on Tuesday as investors welcomed a report signaling de-escalation in the Middle East conflict, offering a glimmer of hope for the index, which is on track for its worst monthly performance since June 2022.
The TSX ballooned 449.62 points or 2.2%, to 32,491.74.
The Canadian dollar was unchanged at 71.79 cents U.S.
ON BAYSTREET
The TSX Venture Exchange bounced 33.03 points, or 3.6%, to 942.16.
All 12 TSX subgroups were in the green in the first hour, with gold skyrocketing 4.6%, materials popping 4%, and health-care going 2.9%.
ON WALLSTREET
Stocks rose on Tuesday as after a new report offered investors hope that the U.S.-Iran war could soon come to an end.
The Dow Jones Industrials index popped 477.79 points, or 1.1%, to 45,689.93
The S&P 500 index recovered 100.52 points, or 1.6%, to 6,444,24,
The NASDAQ revived 449.62 points, or 2.2%, to 21,236.92.
Tuesday marks the final day of the month. The S&P 500 is down 7.8% in March. If that decline holds, it would be the benchmark’s worst monthly performance since September 2022 — when it plunged 9.3%.
The Wall Street Journal reported that President Donald Trump had told aides he was willing to end military hostilities in the Middle East even if the Strait of Hormuz remained largely shut.
Technology, which has been under pressure since the conflict began, rose broadly. Nvidia climbed 1%, and Microsoft advanced 2%.
Still, crude prices remained higher after Bloomberg reported that Iran struck a Kuwaiti oil tanker in Dubai waters. The Dubai government’s media office said in a post on X that no injuries were reported and that “the safety of all 24 crew members has been secured.”
Prices for the 10-year Treasury gained, lowering yields to 4.32% from Monday’s 4.34%. Treasury prices and yields move in opposite directions.
Oil prices docked 44 cents to $102.44 U.S. a barrel.
Gold prices gained $80.60 to $4,606.60 U.S. an ounce.
