Canada's main stock index opened higher on Tuesday, bolstered by broad gains in most sectors including the heavily weighted financials group.
The S&P/TSX composite index zoomed 126.30 points to open Tuesday at 15,226.95.
The Canadian dollar dropped 0.11 cents to 80.01 cents U.S.
Hudson's Bay Co reported a sharply higher fourth-quarter profit, helped by higher same-store sales at its Saks chain and strong digital sales. Bay shares soared $1.82, or 6.8%, to reach $28.62.
An investment unit of the federal government says Canada has entered into an agreement to sell nearly 73.4 million shares it owns in General Motors Co to Goldman, Sachs & Co.
CIBC cut the target price on First Quantum Minerals to $26.00 from $28.00. First Quantum shares improved 29 cents, or 1.8%, to $16.42.
CIBC cut the rating on Lundin Mining to underperform from sector performer. Lundin shares eked up two cents to $5.17.
ON BAYSTREET
The TSX Venture Exchange gained 2.29 points to 690.95
All but one of the 14 Toronto subgroups were higher, as information technology and industrials were co-leaders, each up 1.3%, while telecoms bolted 1% higher.
Gold dulled 0.8%, the lone group on the downside.
ON WALLSTREET
U.S. stocks traded higher on Tuesday as investors eyed oil prices and looked ahead to the unofficial beginning of earnings season and release of the FOMC minutes on Wednesday.
The Dow Jones Industrials added 40.60 points to start Tuesday’s session at 17,921.45, with UnitedHealth leading advancers and American Express the greatest laggard.
The S&P 500 index gained 4.97 points to 2,085.59, with health-care leading eight sectors higher and utilities and energy the only laggards.
The NASDAQ took on 18.97 points to 4,936.29
Investors will watch Wednesday afternoon's release of the Federal Open Market Committee's meeting minutes. Alcoa reports after the bell on Wednesday in the unofficial start to the earnings season.
Earnings expected on Tuesday include Dave & Buster's after the bell.
FedEx will buy Europe's TNT Express for $4.8 billion U.S., pending regulatory approval. That approval was not forthcoming two years ago when FedEx competitor UPS tried to buy TNT but was rebuffed by competition officials.
Starbucks will expand its college tuition assistance program to cover the total cost of an online bachelor's degree.
Intel will change its financial reporting structure, effective on the presentation of its fiscal first quarter results on April 14. The changes reflect the combination of the chip maker's PC Client Group and Mobile and Communications Group to form its new Client an
Viacom announced a realignment that will result in a new structure, job cuts, and a $785-million U.S. pre-tax charge for the second quarter.
Stateside, the Job Openings and Labor Turnover Survey (JOLTS) showed there were 5.1 million job openings on the last business day of February, little changed from the prior month, the U.S. Bureau of Labor Statistics reported on Tuesday.
The number of quits and hires were about the same in February as they were in January.
The only other economic report due is consumer credit at 3:00 p.m. ET.
Prices for 10-year U.S. Treasuries sagged a bit, raising yields to 1.91% from Monday’s 1.90%. Treasury prices and yields move in opposite directions.
Oil prices faded 52 cents to $51.62 U.S.
Gold prices dropped $6.60 to $1,212.00 U.S.
