Equities in Canada’s largest market continued to trade higher on Tuesday, this, after U.S. President Donald Trump said he thought there will "a great deal" with China on trade.
The S&P/TSX Composite Index remained positive 43.96 points, after several days of heavy losses, to greet noon Tuesday at 14,765.71.
The Canadian dollar dipped 0.04 cents to 76.13 cents U.S.
Manulife rose 95 cents, or 4.9%, to $20.81, and was the second-biggest percentage gainer on the TSX after the company said it would ask a court in Saskatchewan to dismiss claims made against it by a hedge fund.
Health-care issues continued to sail, including cannabis producer Aphria, which jumped 95 cents, or 7.4%
Guyana Goldfields plunged $1.71, or 55.9%, the most on the TSX, to $1.35, after reporting its third-quarter results and slashing its production guidance for gold in 2018.
The second biggest decliner was Eldorado Gold, down three cents, or 3.2%, to 91 cents.
ON BAYSTREET
The TSX Venture Exchange dropped 4.01 points to 626.17
Seven of the 12 subgroups were positive midday, with industrials better by 1.9%, health-care up 1.8%, and information technology improving 1%.
The five laggards were weighed most by gold, down 1%, utilities, down 0.9%, and energy, backpedaling 0.3%,
ON WALLSTREET
U.S. stocks traded higher Tuesday as markets looked to pare steep October losses in volatile trading.
The Dow Jones Industrials remained afloat 207.10 points to greet noon at 24,650.02, as Goldman Sachs, McDonald's and Boeing all outperformed.
The S&P 500 regained 21.23 points to 2,662.45, as gains in consumer staples and utilities stocks carried the index out of correction territory.
The NASDAQ recovered 67.26 points, or 1%, to 7,117.56, as gains in Intel and Comcast offset losses in Amazon.
The Dow is down 7% this month, its worst performance since May 2010. The S&P 500 is off by 8.9% this month, its worst such period since February 2009. On Monday, the S&P 500 closed in correction territory, down 10.2% from its record.
Coca-Cola reported third-quarter earnings that topped Wall Street estimates, pushing shares up 1.6%. Sales of diet soda and higher prices helped the company top earnings and revenue projections for the quarter, boosting profit by 30%.
General Electric shares dropped 4.2% after the company disclosed that the Securities and Exchange Commission is expanding its probe into the company's accounting practices. Shares were higher earlier when GE said it would slash its quarterly dividend to just a penny a share, a bold move investors took to mean new CEO Larry Culp would take dramatic action to turn around the fallen blue chip.
The Conference Board said its consumer confidence index rose to a print of 137.9 this month, driven primarily by a hot labor market and expectations that economic growth will remain solid in the near term. The reading is the highest level since September 2000; economists had expected the index to slip to 136.
On Monday evening, President Donald Trump told Fox News Channel that he thinks the U.S. will make a "great" trade deal with China, helping market sentiment somewhat.
This follows a Bloomberg News report on Monday that suggested the U.S. could be preparing to announce tariffs on all remaining Chinese imports by early December if talks between Trump and China President Xi Jinping breakdown next month.
Amgen, Baidu, eBay and Facebook are all set to publish their results after the closing bell.
Prices for the benchmark for the 10-year U.S. Treasury fell slightly, raising yields to 3.11% from Monday’s 3.10%. Treasury prices and yields move in opposite directions.
Oil prices dipped 34 cents at $66.70 U.S. a barrel.
Gold prices sank $1.20 an ounce to $1,226.40
