Canada's main stock index opened higher on Tuesday, as hopes of a U.S.-Iran peace deal boosted sentiment, while miners gained on higher prices of precious metals.
The TSX soared 438.95 points, or 1.3%, to break for lunch Tuesday at 35,665.09.
The Canadian dollar retreated 0.12 cents at 71.07 cents U.S.
Markets in Canada were closed Monday for Civic Holiday.
Investors were also ?digesting second-quarter results from specialty semiconductor producer 5N ?Plus, which topped ?earnings estimates late on Monday.
5N Plus shares waned $4.95, or 15.2%, to $27.79.
Meanwhile, at least three brokerages downgraded Telus after the telecom provider's ?quarterly results. Telus dipped 42 cents, or 3.1%, to $12.96.
A host of energy firms and miners including Suncor Energy and Orla Mining, among others, are set to report quarterly results after the bell.
Suncor stumbled $3.75, or 4%, to $90.39, while Orla gained 80 cents, or 6.4%, to $13.34.
On the economic beat, in June, Canada's merchandise exports increased 0.4%, while imports edged up 0.2%. As a result, Canada's merchandise trade surplus with the world widened slightly from $3.7 billion in May to $3.9 billion in June.
Elsewhere, the Markit Canada Manufacturing index rose to 53.5 in July from 52.2 in June and 53 in July 2025.
ON BAYSTREET
The TSX Venture Exchange revived 30.54 points, or 3.5%. to 897.67.
The 12 TSX subgroups were evenly split by midday, with gold and information technology each rocketing 4.7%, and materials improving
4.5%.
The half-dozen laggards were weighed most by energy, down 3%, health-care, off 2.8%, and telecoms, into the red 1.3%.
ON WALLSTREET
Stocks rose on Tuesday, fueled by strong quarterly results from companies such as Palantir Technologies and Caterpillar, as oil prices dropped amid optimism that a U.S.-Iran deal to reopen the Strait of Hormuz could be on the horizon.
The Dow Jones Industrials shot higher 912.56 points, or 1.7% to reach noon EDT at 54,090.36, improving on Monday’s new record. The index was led by a 10% rise in Caterpillar.
The S&P 500 hiked 110.41 points, or 1.5%, to 7,710.91
The NASDAQ Composite raced 525.22 points, or 2%, to 26,438.99.
Treasury Secretary Scott Bessent said in an interview that “we are in talks with the Iranians.” He then added, “There is a chance we may have a deal today or tomorrow to open the Strait and move towards a more normalized position in this conflict.”
Caterpillar similarly reported better-than-expected Q2 numbers as well as upped its revenue growth guidance, with the industrial giant noting strong demand for its equipment. The company also said its tariff costs outlook for the full year should come in at the lower end of its previously expected range.
Palantir posted blowout results for the second quarter, which CEO Alex Karp described as “otherworldly” as a result of artificial intelligence sovereignty demand.
Notably, the company’s commercial revenue jumped 149% to $764 million. Karp also said that the “sovereign AI revolution makes us very optimistic about the future.”
Other tech names followed Palantir higher. Micron Technology gained 7%, while Marvell Technology advanced 12%.
Caterpillar similarly reported better-than-expected Q2 numbers as well as upped its revenue growth guidance, with the industrial giant noting strong demand for its equipment as the AI data center buildout ramps up across the country. The company also said its tariff costs outlook for the full year should come in at the lower end of its previously expected range.
Investors are closely watching SpaceX, which is set to report its first quarterly earnings as a public company later. The rocket company’s share price was up 3% during Tuesday’s session.
Prices for the 10-year Treasury rose, lowering yields to 4.63%. Treasury prices and yields move in opposite directions.
Oil prices cratered $4.86 to $75.48 U.S. a barrel.
Gold prices spiked $52.10 to $4,142.60 U.S. an ounce.
