Canada’s main stock index rose on Tuesday, led by an over 2% rise in materials stocks, as gold miners tracked an increase in bullion prices, while further gains were capped by weakness in energy stocks.
The TSX raced 213.21 points by midday Tuesday, or 1.2%, to 18,670.99
The Canadian dollar was unchanged at 79 cents U.S.
Lightspeed POS continued to roll along, gaining $4.18, or 6.1%, to $72.80, after BTIG raised its rating of the stock.
Ballard Power Systems rose $2.75, or 10.3%, to $29.57, after the fuel cell product maker received follow-on orders from Wrightbus for fuel cell modules.
Vermilion Energy acquired 23 cents, or 2.6%, to $9.26.
CAE fell $1.78, or 4.6%, the most on the TSX, to $36.93.
ON BAYSTREET
The TSX Venture Exchange gained 28.61 points, or 3.1%, to pause for lunch Tuesday at 959.68
All but one of the 12 TSX subgroups were positive mid-session, with health-care zooming 5%, information technology stronger 3.6%, and gold, ahead 2%.
The lone holdout was in communications, beaming down 0.3%.
ON WALLSTREET
U.S. stocks jumped on Tuesday after bond yields declined, causing investors to buy the dip in beaten-up technology shares.
The Dow Jones Industrials built on Monday’s gains, picking up 297.84 points as morning turned into afternoon at 32,100.28
The S&P recovered 72.06 points, or 1.9%, to 3,893.41.
The NASDAQ Composite screamed back from a disastrous Monday, popping 438.29points, or 3.1%, to 13,047.45.
Tesla shares popped 14% after a five-day losing streak, while Apple, Amazon, Microsoft and Netflix all gained at least 3%.
Technology shares rebounded from sharp losses as bond yields stabilized.
Many popular technology stocks have fallen double digits over the past month. Apple has dropped 12% in the past month, while Tesla has tumbled nearly 30%. Pandemic bets Zoom Video and Peloton have both fallen more than 20% during the same period.
Prices for 10-Year Treasurys recovered, weighing yields to 1.56% from Monday’s 1.61%. Treasury prices and yields move in opposite directions.
Oil prices shed 83 cents to $64.22 U.S. a barrel.
Gold prices brightened $36.10 to $1,714.10.