Stocks in Canada’s largest centre found their way into the black, as energy and utilities stocks soared
The S&P/TSX composite index picks up 78.89 points to greet noon at 13,372.
The Canadian dollar inched up 0.01 cents at 75.41 cents U.S.
Among energy issues, Lightstream Resources zoomed ahead 7.9% to 41 cents, while Penn West Petroleum spiked 6.1% to 70 cents.
In the utility sector, Canadian Utilities gained 1.6% to $34.88, while Northland Power gained 1.5% to $16.24.
In the gold sector, Primero Mining hiked 5.1%, to $3.12.
On the economic slate, the Canadian Real Estate Association reported national home sales activity edged up by 0.3% from July to August.
Actual (not seasonally-adjusted) activity stood 4.0% above August 2014 levels. CREA also said the number of newly listed homes rose 0.5% from July to August.
ON BAYSTREET
The TSX Venture Exchange gained 0.92 points to 545.02
All but one of the 14 TSX subgroups reached midday higher, as energy sparked 1.2%, with utilities and gold gained 1% each.
Only real-estate stocks were negative, by 0.1%.
ON WALLSTREET
U.S. stocks traded mostly higher Tuesday as investors eyed data ahead of the important Federal Reserve meeting that kicks off in one day.
The Dow Jones industrial average soared 177.71 points, or 1.1%, to 16,548.67, with Chevron leading advancers and Walt Disney the only decliner.
The S&P 500 hiked 15.96 points to 1,968.99, with energy leading nine sectors higher and utilities the only laggard.
The NASDAQ index recovered 35.82 points to 4,841.58, having spent the early morning in negative country.
August retail sales showed an increase of 0.2%, missing expectations of a 0.3% gain. Ex-autos, retail sales increased 0.1%. July retail sales were revised up to 0.7% from 0.6%.
In other economic news, July business inventories gained 0.1%. August industrial production data showed a decline of 0.4%, worse than the expected 0.2% drop.
September U.S. Empire Manufacturing showed negative 14.7, versus August's read of negative 14.9.
While today's economic reports could give markets some direction, major market moves were not expected ahead of the Fed meeting.
The Federal Open Market Committee could raise short-term interest rates for the first time in more than nine years at its two-day meeting, which begins Wednesday and culminates in a statement release and press conference Thursday.
Many economists see enough support from labour market conditions for the Fed to hike in September, while financial markets price in a small chance of a move.
Prices for 10-year U.S. Treasuries fell, raising yields to 2.23% from Monday’s 2.18%. Treasury prices and yields move in opposite directions.
Oil prices took on 76 cents a barrel to $44.76 U.S.
Gold prices retreated four dollars to $1,103.70 U.S. an ounce.
