Stocks on both sides of the border climbed, amid feverish activity out of the White House aimed at de-regulating American business, promising particular benefit for the energy sector.
The S&P/TSX Composite climbed 130.56 points to close Tuesday at 15,610.69
The Canadian dollar recovered 0.4 cents at 75.94 cents U.S.
Among energy winners Tuesday, Baytex Energy surged 36 cents, or 6.6%, to $5.78, while Crescent Point Energy jumped 75 cents, or 4.9%, to $16.14.
Tech stocks also came out on top, as BlackBerry acquired two cents to $9.48.
Materials also fared well, with First Quantum Minerals perking 54 cents, or 3.2%, to $17.33, while Cameco Corp. gained $1.01, or 6.3%, to $17.03.
ON BAYSTREET
The TSX Venture Exchange was positive 1.66 points to 806.74
All but one of the 12 subgroups were higher on the day, with energy gushing 2.3%, information technology gaining 1.3%, and materials, up 1.2%.
The lone laggard was gold, off 0.8%.
ON WALLSTREET
U.S. equities rose on Tuesday, with materials spiking more than 2.5% on the back of more executive orders from President Donald Trump.
The Dow Jones Industrials strengthened 112.86 points to 19,912.71, with IBM contributing the most gains. The index had closed lower in six of the past seven sessions.
The S&P 500 grew 14.87 points to 2,280.07, notching intraday and closing records, with materials leading eight sectors higher. Copper futures for March delivery rose more than 2%. Platinum and palladium futures also advanced more than 2%.
The NASDAQ composite index roared ahead 48.01 points to 5,600.96, hitting record highs on a closing and intraday basis.
Five Dow components posted quarterly results before the bell. DuPont, 3M and Johnson & Johnson outpaced Wall Street earnings per share estimates, but fell short of revenue expectations.
Telecom giant Verizon missed on the bottom line while topping sales estimates, while Travelers beat on both lines.
Trump signed executive orders that will make it easier for TransCanada to build the Keystone XL pipeline and for Energy Transfer Partners to build the final uncompleted portion of the Dakota Access pipeline.
Trump also told U.S. automakers he will cut taxes and regulation, a day after saying he wanted to cut regulations by 75%, or "maybe more."
In economic news, the IHS Markit Manufacturing PMI for January rose to 55.1, from 54.3 in December, lifted by a surge in new orders. Existing home sales fell 2.8% in December.
Prices for the benchmark 10-year Treasury note dipped, raising yields to 2.46% from Monday’s 2.41%. Treasury prices and yields move in opposite directions.
Oil prices recovered 35 cents to $53.10 U.S. a barrel
Gold prices subtracted $6.40 to $1,209.20 U.S. an ounce.
