Stocks in Canada’s largest market continued their winning ways Tuesday, with resource stocks powering the rise.
The TSX leaped 323.06 points to close Tuesday at 36,332.28
The Canadian dollar handed back 0.16 cents to 71.10 cents.
Iran's President Masoud Pezeshkian, along with several world leaders, is set to participate in the United Nations General ?Assembly later this week.
Markets are closely watching a potential ?meeting between Pezeshkian and U.S. President Donald Trump, looking for any breakthrough to ease the six-month-old geopolitical conflict that has fueled inflationary ?pressures, disrupted global supplies and prompted major central banks ?to raise interest rates.
In the gold sector, I-80 Gold popped 20 cents, or 8.2%, to $2.63, while Eldorado Gold hiked $3.86, to 6.5%, to $63.30.
In materials, Ero Copper grabbed $4.03, or 8.3%, to $52.71, while Trekor Metals sprang $1.03, or 8.5%, to $13.16.
Telecoms weighed things down, though, with Rogers pausing $1.37, or 2.8%, to $46.92, while Cogeco Communications fell 63 cents, or 1.1%, to $57.05.
In energy issues, Strathcona slid $1.18, or 2.9%, to $39.52, while Parex Resources faded 66 cents, or 2.4%, to $26.37.
In the financial sector, Power Corporation dipped $1.38, or 1.5%, to $93.85, while Great-West she $2.02, or 2.1%, to $92.71.
ON BAYSTREET
The TSX Venture Exchange gained 19.77 points, or 2.2%, to close at 939.80.
All but three of the 12 subgroups were positive by the end of the session, with gold and materials each leaping 3.9%, and information technology picking up 3.1%.
The three laggards were telecoms, down 1.1%, while energy and financials each lost 0.7%.
ON WALLSTREET
The NASDAQ rose to a fresh all-time intraday high on Tuesday, while the S&P 500 was relatively unchanged as traders continued to keep an eye on developments between the U.S. and Iran.
The Dow Jones Industrials slid 185.14 points to 51,863.69
The S&P 500 index dipped 0.06 points to 7,764.64.
The NASDAQ Composite surged 122.18 points to 27,244.28, yet another all-time high.
The tech-heavy NASDAQ was supported by a 7% gain in shares of Sandisk following a bullish call from Rosenblatt.
Traders’ attention will turn to this week’s summit in Washington, D.C. between President Donald Trump and Chinese leader Xi Jinping. Artificial intelligence, the Iran war, tariffs and rare earth metals are expected to be among the key topics covered in the meeting.
Treasury Secretary Scott Bessent convened with Chinese Vice Premier He Lifeng prior to Xi’s visit to the U.S.
Addressing the United Nations General Assembly Tuesday, said that he has a “big decision” to make on whether to pursue a deal with Iran or “annihilate” the country.
He also said that he believes “we’ll make a deal right after the election because it doesn’t make sense for them not to,” adding that “they’re waiting to see how I do in the midterm election.”
Prices for the 10-year Treasury were stationery, keeping yields Monday’s 4.95%.
Oil prices dipped 57 cents to $95.21 U.S. a barrel.
Gold prices hiked $15.10 to $4,399.00 U.S. an ounce.
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