Markets in Canada’s biggest centre recovered their swagger Tuesday, after a mini-slump the day before, as energy and gold stocks led the charge upward.
The S&P/TSX Composite hiked 97.57 points to close Tuesday at 15,385.27
The Canadian dollar faded 0.05 cents to 76.16 cents U.S.
Among energy concerns, Enerplus proved the champion, rising 76 cents, or 6.1%, to $13.22, while Suncor Energy lofted 98 cents, or 2.3%, to $43.75.
Gold shone brighter, as Barrick Gold gained 56 cents, or 2.8%, to $20.66, while Goldcorp picked up 10 cents to $17.39.
In the utilities sector, Fortis Inc. collected 66 cents, or 1.7%, to $40.94, while Hydro One added six cents to $23.25.
Materials faltered, as Teck Resources cooled $1.49, or 4.9%, to $28.65, while Agrium sank $4.90, or 3.5%, to $135.30
ON BAYSTREET
The TSX Venture Exchange dropped 1.11 points to 752.60
All but three of the 12 TSX subgroups were stronger on the day, with energy gushing 1.9%, gold soaring 1.7%, and utilities clicking 1% higher
The three laggards were materials, down 0.4%, real-estate, off 0.3%, and consumer discretionary, sliding 0.1%.
ON WALLSTREET
U.S. equities closed higher on Tuesday as investors kept an eye on a key Federal Reserve meeting, while the Dow Jones industrial average closed in on another milestone.
The Dow Jones Industrials added to Monday’s all-time high, strengthening 114.78 points to 19,911.21, with Exxon Mobil leading advancers and Coca-Cola the biggest decliner.
The Dow had gained 13.6% for the year, as of Monday's close, with a large part of those gains coming after Donald Trump stunned the world by winning the U.S. presidency.
Tuesday saw the 16th record close for the blue-chip index since the Nov. 8 vote, in which the index has soared 8%.
The S&P 500 gained 14.76 points to 2,271.72, also ending at an all-time high.
The NASDAQ composite index recovered 51.29 points, or 1%, to 5,463.83, to a new all-time high
Investors also kept a close eye on the Fed as it began a two-day monetary policy meeting, with most market participants expecting the central bank to raise interest rates by 25 basis points. Experts put market expectations for a rate hike above 90%.
The meeting is expected to conclude Wednesday, with Fed Chair Janet Yellen scheduled to hold a news conference at 2:30 p.m. ET.
In economic news, the November read on the NFIB Small Business index came in at 98.4, above October's 94.9. Meanwhile, import prices fell 0.3% in November.
Treasury prices for the 10-year note gained back lost ground, lowering yields to Monday’s 2.48%. Treasury prices and yields move in opposite directions.
Oil prices fell three cents to $52.80 U.S. a barrel
Gold prices docked $5.30 to $1,160.50 U.S. an ounce.
