Markets in Toronto recovered from quadruple-point losses Monday to finish in the green Tuesday.
The TSX Composite Index recovered from a quadruple-point losses, to gain 443.85 points, or 3.1%, to 14,958.09
The Canadian dollar lost 0.54 cents to 72.68 cents U.S.
Information technology led the charge, with BlackBerry sweetening 45 cents, or 8.5%, to $5.73, while Shopify gained $40.24, or 7%, to $611.45.
Among industrials, Ballard Power jumped $1.88, or 16.2%, to $13.50, while Canadian Pacific Railways acquired $28.02, or 10.1%, to $305.87.
Health-care stocks also pointed upward, with Canopy Growth leaped $1.37, or 7.6%, to $19.42, while Bausch Health Companies advanced $1.44, or 5.8%, to $26.42.
ON BAYSTREET
The TSX Venture Exchange recovered 1.59 points to 464.74.
All 12 TSX subgroups were gainers, with information technology soaring 4.2%, industrials up 3.8%, and health-care better by 3.6%.
ON WALLSTREET
Stocks rose sharply in wild trading on Tuesday as investors weighed the prospects of fiscal stimulus to curb slower economic growth stemming from the coronavirus outbreak.
The Dow Jones Industrials charged ahead 1,163.38 points, or 4.9%, to 25,014.40. Tuesday’s gains for the Dow cut the index’s losses from Monday in half.
The broader S&P 500 took on 135.67 points, or 4.9%, to 2,882.23
The NASDAQ popped 393.58 points, or 5%, to 8,344.25.
The market suffered an historic selloff on Monday, with the Dow suffering 7.8% and the S&P 500 plunging 7.6%, both posting their worst day since 2008. The Dow’s 2,013-point drop was also the biggest-ever point drop for the 30-stock average.
Facebook, Amazon, Apple, Netflix and Google-parent Alphabet all rose more than 4.8%. JPMorgan Chase and Home Depot led the Dow higher, rising more than 7% each. Tech and financials were the best-performing sectors in the S&P 500, rising at least 6% each. Energy gained more than 4%.
President Donald Trump floated on Monday the idea of "a payroll tax cut or relief" to offset the negative impact from the coronavirus. The potential tax incentives come on top of an $8.3-billion spending package Trump signed last week.
However, administration officials told the media the White House is not close to rolling out specific proposals to deal with a coronavirus-induced economic slowdown
Prices for the 10-Year U.S. Treasury lost ground, raising yields to 0.63% from Monday’s 0.60%. Treasury prices and yields move in opposite directions.
Oil prices gained $2.28 to $33.41 U.S. a barrel.
Gold prices dropped $22.90 to $1,652.80 U.S. an ounce.
