Equities in Toronto managed to hang onto gains Tuesday, powered mostly by energy plays, to counter the negative effect of health-care stocks.
The TSX Composite gained 27.81 points to close Tuesday at 21,227.87.
The Canadian dollar was up 0.07 cents at 74.63 cents U.S.
Energy stocks led the parade of winners, with MEG Energy rumbling $1.23, or 5%, to $25.77, while Precision Drilling jumped $2.86, or 3.5%, to $84.69.
In industrials, SNC Lavalin hiked $1.44, or 3.3%, to $45.45, while Russel Metals grabbed 63 cents, or 1.5%, to $44.07.
In financials, Fairfax Financial sprinted $29.82, or 2.1%, to $1,422.56, while Great-West Life added 81 cents, or 1.8%, to $45.07.
Health-care stocks, however, weighed things down, with Tilray skidding nine cents, or 3.4%, to $2.55, while Bausch Health Companies slid 21 cents, or 1.9%, to $10.98.
In the real-estate sector, Northwest Healthcare Properties REIT units dipped 11 cents, or 2.2%, to $4.92, while Altus Group faded 74 cents, or 1.6%, to $45.43.
In gold, Novagold blundered 21 cents, or 5.6%, to $3.52, while Iamgold fell eight cents, or 2.4%, to $3.21.
ON BAYSTREET
The TSX Venture Exchange nicked ahead 3.87 points to finish Tuesday at 558.48.
All but three of the 12 subgroups were in the minus category, with health-care sliding 1.2%, while real-estate drooped 0.8%, and gold lost 0.7%.
The three gainers proved to be energy, up 1.5%, industrials eked up 0.3%, and financials inched up 0.2%.
ON WALLSTREET
The S&P 500 ended Tuesday near the flatline as Wall Street waits for the latest Federal Reserve decision on interest rates.
The Dow Jones Industrials leaped 133.86 points to adjourn Tuesday at 38,467.31.
The S&P 500 index sagged 2.96 points to 4,924.97.
The NASDAQ tumbled 118.15 points to 15,509.90.
General Motors shares popped nearly 8% after the automaker posted better-than-expected earnings. Cybersecurity stock F5 gained just shy of 1% on the back of a better-than-expected financial report, while electronics manufacturer Sanmina soared more than 28% after posting strong earnings per share and current-quarter guidance.
Elsewhere, appliances maker Whirlpool shed 6.6% after sharing a worse-than-expected outlook for the full year. JetBlue fell 4.7% after forecasting little to no revenue growth in 2024, and costs per available seat mile rising in the mid- to high single digits, excluding fuel.
Those reports come ahead of major tech reports due out post-market, including Microsoft and Alphabet
Traders will watch for updates out of the Federal Open Market Committee’s two-day policy meeting that got underway Tuesday. The fed funds futures market has priced in a 97% probability that the central bank will leave rates unchanged.
Prices for the 10-year Treasury regained strength, lowering yields to 4.04% from Monday’s 4.08%. Treasury prices and yields move in opposite directions.
Oil prices regained 96 cents to $77.74 U.S. a barrel.
Gold prices surged $9.80 to $2,054.40.