Canada’s main stock index scaled an all-time high on Tuesday as energy stocks rallied on higher oil prices, while hopes of fresh U.S. economic stimulus also aided sentiment.
The S&P/TSX Composite came off its highs of the morning, but remained buoyant 46.12 points Tuesday to reach noon hour EST at 18,506.33.
The Canadian dollar slid 0.40 cents to 78.74 cents U.S.
The largest percentage gainers on the TSX were Aphria, which jumped $3.99, or 18.5%, to $25.54, and Cronos Group, which rose 79 cents, or 5.1%, to $16.35.
New Gold fell six cents, or 2.7%, to $2.19, while OceanaGold recovered from losses in the rmoning, taking on half a cent to $2.24.
Statistics Canada reported Tuesday Canadian investors acquired an unprecedented $26.9 billion of foreign securities in December, largely purchases of U.S. shares.
Meanwhile, non-residents added $5.1 billion of Canadian securities to their holdings, the lowest investment in three months.
The Canadian Real Estate Association reported home sales recorded over Canadian MLS Systems climbed 2% between December 2020 and January 2021 to set another new all-time record, of 583,635 home sales this year.
ON BAYSTREET
The TSX Venture Exchange hiked 25.68 points, or 2.4%, to 1,093.12.
Seven of the 12 TSX subgroups were lower midday, as gold waned 1.4%, consumer staples weakened 1%, and industrials fell 0.3%.
The four gainers were led by health-care, up 6.1%, energy, surging 2.6%, and financials, richer by 0.3%.
The materials group was unchanged by noon hour.
ON WALLSTREET
U.S. stocks gave up gains in volatile trading on Tuesday as rising bond yields kept sentiment in check.
The Dow Jones Industrial Average came off morning highs, but stayed positive 40.57 points to pause for lunch at 31,498.97.
The S&P 500 lost 3.5 points to 3,931.33, led by declines in health-care and real estate.
The NASDAQ Composite let go of gains and plunged 64.25 points to 14,031.22. All three major averages hit record highs earlier in the day.
The Dow has gained about 5% in February, while the S&P 500 has grown 5.8%, while the NASDAQ has 7.4%. The S&P 500 has raked in 10 record closes in 2021.
Elsewhere, bitcoin crossed $50,000 for the first time ever Tuesday, continuing its dizzying rally as more companies warmed to the crypto space.
Prices for 10-Year Treasurys stumbled, sending yields higher to 1.28% from Friday’s 1.21%. Treasury prices and yields move in opposite directions.
Oil prices gained 20 cents to $59.67 U.S. a barrel.
Gold prices dropped $29.20 to $1,794.