Stocks in Toronto chugged along midday Tuesday, supported by technology stocks, while investors awaited key U.S. economic data due later this week, which is expected to give insights into the Federal Reserve's interest rate path.
The TSX kept on its winning track, gaining 249.95 points by lunch hour to 33,273,27
The Canadian dollar climbed 0.15 cents to 73.89 cents U.S.
Bank of Montreal named Catherine Blaesing and Jerome Doucet as co-heads of global corporate banking within the capital markets team.
BMO shares started Tuesday up $1.42 to $197.91.
Silvercorp Metals reported results after the bell on Monday, with third-quarter adjusted profit more than doubling from a year earlier. Silvercorp doffed four cents to $14.59.
Among individual movers, Shopify climbed $12.77, or 8%, to $173.41, after MoffettNathanson upgraded its rating to 'buy' from 'neutral'.
ON BAYSTREET
The TSX Venture Exchange dished off 3.89 points to 1,033.62.
All but two of the 12 TSX subgroups were stronger by noon Tuesday, with health-care haler by 1.6%, industrials up 1.4%, and information technology up 1.1%.
The two laggards were energy, dipping 0.2%, while consumer staples eased 0.02%.
ON WALLSTREET
The Dow Jones Industrial Average continued its winning streak on Tuesday as investors moved into software stocks and more value-oriented areas of the market.
The 30-stock index gained 253.5 points, to 50,389.37, receiving a boost from entertainment name Disney and financial stock American Express
The S&P 500 index gained 9.07 points to 6,973.89.
The NASDAQ eked up 15.51 points to 23,265.19.
In the tech space, Datadog bounced 16%, while ServiceNow moved higher by 3%. Unity shares jumped 4% after Oppenheimer upgraded the stock to outperform from perform, citing accelerating revenue growth and margin expansion this year
Microsoft advanced more than 1%, aiding the Dow’s outperformance,
The latest retail sales report showed that consumer spending in December was flat, missing the 0.4% monthly gain that economists polled by
Dow Jones were expecting. The figure comes after a 0.6%
Prices for the 10-year Treasury gained ground, lowering yields to 4.15% from Monday’s 4.20%. Treasury prices and yields move in opposite directions.
Oil prices dropped 31 cents to $64.05 U.S. a barrel.
Gold prices erased $24.00. to $5,055.40 U.S. an
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