TSX Clings to Unspectacular Gains


Equities in Canada’s largest centre made their way doggedly over the breakeven mark, as strength in resource issues powered the rise.

The TSX Composite Index gained 23.42 points to wrap up Tuesday at 21,611.30.

The Canadian dollar slid 0.14 cents to 72.90 cents U.S.

Energy led the way upward, climbing on the back of Vermilion Energy ahead 42 cents, or 2.8%, to $15.41, while International Petroleum surged 47 cents, or 2.7%, to $$17.99.

Gold stocks found their sheen, with Iamgold taking on 21 cents, or 4.3%, to $5.15, while New Gold strengthened seven cents, or 2.7%, to $2.70.

In materials, Capstone Mining progressed 50 cents, or 5.7%, to $9.33, while First Quantum Minerals jumped 50 cents, or 3.1%, to $16.69.

In tech stocks, Converge Technology sank 22 cents, or 4.5%, to $4.64, while Tecsys surrendered $1.24, or 3.5%, to $34.33.

Industrials dawdled, too, as Richelieu Hardware swooned 78 cents, or 2%, to $36.68, while Canadian National Railways reversed $3.22, or 1.9%, to $162.49.

In consumer staples, North West Company dropped 84 cents, or 2%, to $41.65, while Primo Water stepped back 82 cents, or 2.6%, to $30.46.

ON BAYSTREET

The TSX Venture Exchange stayed above water 2.7 points to 575.63.

The 12 subgroups were evenly divided, with energy soaring 1.9%, while health-care acquired 0.6%, and gold plays gained 0.5%.

The half-dozen laggards were weighed most by information technology, slumping 0.9%, consumer discretionary stocks, off 0.4%, and communications down 0.3%.

ON WALLSTREET

The S&P 500 rose to a fresh record as artificial intelligence darling Nvidia continued its march to new highs, topping Microsoft as the most valuable public company.

The Dow Jones Industrials advanced 56.76 points to 38,834.86.

The much-broader index gained 13.80 points to 5,487.03.

The NASDAQ inched up 5.21 points, to 17,862.23.

Nvidia jumped 3.5% to surpass Microsoft as the most valuable public company, and continue its milestone run after topping a $3 trillion market cap and breezing past Apple in value earlier this month. The chipmaker has surged 174% since the start of the year as enthusiasm for AI shows no signs of dwindling.

Some semiconductor stocks also rose in sympathy, with Qualcomm and Taiwan Semiconductor last up 2.2% and 1.4%, respectively. Micron Technology gained 3.8%. The sector also caught a bid from declining Treasury yields on the heels of weaker-than-expected retail sales report that spurred hopes for some economic slowing and Federal Reserve rate cut rates.

Tuesday’s moves follow a positive session on Wall Street that propelled the S&P and NASDAQ to all-time highs and record closing levels.

Retail sales rose 0.1% in May, versus the 0.2% growth forecast by economists polled by Dow Jones. Sales rose 2.3% on a year-over-year basis.

Prices for the 10-year Treasury strengthened, lowering yields to 4.21% from Monday’s 4.28%. Treasury prices and yields move in opposite directions.

Oil prices gained $1.26 to $81.59 U.S. a barrel.

Gold prices rose $15.50 to $2,344.50



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