Equity markets in Toronto were little changed on Tuesday after a major selloff the previous session as higher U.S. crude oil prices lifted shares of energy producers, while a drop in the bullion price weighed on gold miners.
The S&P/TSX composite index peeled off 0.48 points, to reach noon ET at 13,485.72, after dumping more than 200 points Monday
The Canadian dollar moved up 0.48 cents to 90.23 cents U.S.
Energy shares rose, with Canadian Natural Resources climbing 1% to $36.51, and Encana Corp. jumping 2.8% to $20.15.
The materials sector, which includes mining stocks, was hurt by declines in gold-mining shares. Barrick Gold fell 1.2% to $21.16, and Goldcorp shed 1.2% to $27.14.
In corporate news, WestJet Airlines Ltd reported an 11% rise in fourth-quarter profit and raised its dividend. The stock was up 1.4% at $25.20.
ON BAYSTREET
The TSX Venture Exchange nicked up 1.06 points midday at 941.83
In all, eight of the 14 Toronto subgroups were higher, led by global base metals, soaring 1.1%, information technology, picking up 0.9%, and metals and mining stocks, surging 0.7%.
The half-dozen laggards were weighed mostly by telecoms, down 0.9%, while consumer staples and real-estate issues each suffered 0.3%.
ON WALLSTREET
Stocks got a bit of a bounce Tuesday, a day after suffering a steep drop Monday.
The Dow Jones Industrial Average gained 83.50 points to stop for lunch at 15,456.30
The S&P 500 index moved higher 13.48 points to 1,755.37. The NASDAQ added 40.07 points to 4,037.03
Microsoft shares were up after the company named Satya Nadella to be its new CEO, replacing Steve Ballmer. The news was expected, but investors seem hopeful that Nadella, who has led the company's rapidly growing cloud software division, will be able to help Microsoft become an even bigger presence in the cloud market.
Michael Kors shares surged nearly 20% after reporting stronger sales and profits than expected. The luxury retailer's stock hit an all-time high and was the best performer in the S&P 500.
Shares of KFC-owner Yum! Brands jumped after it reported better-than-expected earnings, despite continued sluggishness with its KFC business in China.
J.C. Penney shares fell even though the struggling retailer reported same-store sales growth for the holiday season. The stock has been trading at multi-decade lows, and its management team is desperately trying to deliver on a much-hyped turnaround strategy.
Twitter was down slightly Tuesday. The company will release its first earnings report as a public company Wednesday.
ARM Holdings reported fourth quarter earnings that disappointed some investors, sending shares lower in early trading.
The markets took a beating Monday, with the Dow dropping 326 points after key manufacturing data for the United States came in way below Wall Street forecasts.
The big event happens Friday, when the government releases its monthly jobs report. Investors will be looking for signs that the U.S. economy is expanding at a healthy pace, as many economists have maintained.
Prices for 10-year U.S. Treasuries faded a bit, lifting yields to 2.63% from Monday’s 2.58%. Treasury prices and yields move in opposite directions.
Oil prices remained positive 92 cents to $97.35 U.S. a barrel.
Gold prices dipped in price by $8.50 to $1,251.40 U.S. an ounce.
