(SECOND PARAGRAPH CLARIFIES TSX FIGURE IS CLOSING ONE)
Equities in Toronto went on an upward journey Tuesday, with all sectors moving higher.
The TSX Composite popped 131.85 points to close Tuesday at 22,003.81.
The Canadian dollar edged up 0.14 cents at 73.12 cents U.S.
Tech stocks led the charge, with HUT 8 Mining rocketing 54 cents, or 4.3%, to $13.17, while Shopify shares in Canada tacked on $4.45, or 4.6%, to $101.10.
In health-care, Tilray moved 17 cents, or 7.2%, higher to $2.52, while Bausch Health Companies leaped eight cents to $11.66.
In the gold field, NovaGold flew 18 cents, or 4.7%, to $4.00, while IAMGOLD hiked 26 cents, or 5.4%, to $5.05.
ON BAYSTREET
The TSX Venture Exchange hiked 8.77 points, or 1.6%, to 574.83.
All 12 TSX subgroups were positive on the day, with information technology improving 1.9%, while health-care jumped 1.7%, and gold brightened 1%.
ON WALLSTREET
Stocks ripped higher for a second day Tuesday, as a strong batch of corporate earnings assuaged concerns over higher rates.
The Dow Jones Industrials jumped 263.71 points to close Tuesday at 38,503.69.
The S&P 500 index climbed 59.95 points, or 1.2%, to 5,070.55.
The NASDAQ Composite popped 245.34 points, or 1.6%, to 15,696.64.
Spotify surged 11% after surpassing Wall Street’s first-quarter estimates and issuing rosy second-quarter guidance. UPS shares edged 2.1% higher after the delivery giant posted better-than-expected quarterly earnings. PepsiCo, meanwhile, dipped 2.6% despite reporting better-than-expected earnings. Shares of GE Aerospace added roughly 7% after the company reported an earnings beat.
Tesla is slated to report earnings after the bell, followed by Meta Platforms on Wednesday afternoon. Google parent company Alphabet and Microsoft round out the technology-heavy earnings week on Thursday.
Roughly 20% of the S&P 500 has reported earnings through Tuesday. Of those companies, 76% have beaten analysts’ expectations,
Prices for the 10-year Treasury inched higher, lowering yields to 4.60% from Monday’s 4.62%. Treasury prices and yields move in opposite directions.
Oil prices recovered $1.43 to $83.33 U.S. a barrel.
Gold prices dulled $10.50 to $2,335.90 U.S. an ounce.