Equities in Canada’s largest centre continued their win streak, surpassing the former all-time high on the strength of energy and financial stocks.
The TSX Composite index surged 73.67 points to end Tuesday at 20,231.32.
The Canadian dollar fell 0.29 cents to 82.06 cents U.S.
Energy led the charge Tuesday, as MEG Energy powered ahead 51 cents, or 5.9%, to $9.23, while PrairieSky Royalty jumped 80 cents, or 5.8%, to $14.54.
In the financial world, ECN Capital advanced 19 cents, or 2.2%, to $8.95, while Goeasy picked up $3.13, or 2.1%, to $154.00.
In communications, Rogers leaped $1.20, or 1.9%, to $63.76, while BCE gathered 55 cents, or 0.9%, to $61.33.
Health-care stocks moved backward, as Tilray dumped $1.25, or 5.4%, to $22.00, while Trillium Phatmaceuticals ditched 40 cents, or 3.4%, to $11.43.
Among miners, First Quantum Minerals dumped $1.65, or 5.9%, to $25.40, and Hudbay Minerals, fell 48 cents, or 5.7% to $7.98.
In the gold patch, Wesdome docked 29 cents, or 2.3%, to $12.45, while OceanaGold ducked four cents, or 1.5%, to $2.56.
On the economic slate, Canada Mortgage and Housing Corporation (CMHC) says the trend in housing starts was 280,779 units in May, up slightly from 278,462 units in April 2021.
CMHC says this trend measure is a six-month moving average of the monthly seasonally adjusted annual rates of housing starts.
ON BAYSTREET
The TSX Venture Exchange faded 8.47 points to 969.32.
Eight of the 12 TSX subgroups were positive on the day, with energy up 2.2%, while financials and communications each gained 0.7%.
The four laggards were weighed by health-care descending 2.8%, materials, off 1.4%, and gold, ducking 0.9%.
ON WALLSTREET
U.S. stocks fell slightly on Tuesday with the S&P 500 and the NASDAQ Composite slipping from their respective records, as investors awaited the key Federal Reserve’s monetary policy meeting.
The Dow Jones Industrials lost 94.42 points to 34,299.33.
The S&P 500 fell 8.56 points to 4,246.59
The NASDAQ tumbled 101.29 points to 14,072.86, as Apple, Alphabet, Alphabet and Microsoft all registered losses.
Real estate and tech were the biggest laggards on Tuesday, while the energy sector provided the broader with some support, rising 2.1%. Diamondback Energy jumped 5.1%, and Exxon Mobil and Occidental Petroleum climbed more than 3% each.
On the data front, the final demand index for producer prices advanced 6.6% for the 12 months ended in May, the largest increase since 12-month data were first calculated in November 2010.
On a monthly basis, the producer price index for final demand rose 0.8%, ahead of the Dow Jones estimate of 0.6%. Producer prices measure the prices paid to producers as opposed to prices on the consumer level.
Meanwhile, May’s retail sales data fell 1.3%, compared to an expectation of a 0.7% decline per economists polled by Dow Jones.
The Fed’s two-day policy meeting starts on Tuesday, and it’s a focal point for the markets this week. The central bank is not expected to take any action. However, commentary on interest rates, inflation and the economy could drive market moves.
Prices for 10-Year Treasurys were static, leaving yields at 1.5%.
Oil prices gained $1.38 to $72.26 U.S. a barrel.
Gold prices lost $5.50 to $1,860.40 U.S. an ounce.