Stocks in Canada’s biggest market moved out of the shadows in a big way Tuesday, capturing more than 100 points by the close, while investors awaited the Bank of Canada's next interest rate decision later in the week.
The TSX Composite hiked 101.48 points by the close to 22,361.78.
The Canadian dollar eked up 0.1 cents at 73.70 cents U.S.
Biggest star was in the materials sector, where ERO Copper spiked $1.23, or 4.3%, to $29.62, while Teck Resources grabbed $2.93, or 4.6%, to $66.70.
Gold scored big, too, as New Gold notched higher 12 cents, or 5%, to $2.51, while Eldorado Gold climbed 77 cents, or 3.7%, to $21.27.
In real-estate, Northwest Healthcare Properties REIT units leaped 22 cents, or 4.4%, to $5.26, while Allied Properties REIT units rallied 70 cents, or 3.9%, to $18.73.
In health-care, Tilray was clobbered 72 cents, or 20.6%, to $2.78, while Bausch Health Companies were bruised 62 cents or 4.7%, to $12.55.
Consumer discretionary stocks also took their lumps, most notably, PET Valu, off 31 cents, or 1%, to $31.87, while Dollarama tumbled $1.95, or 1.8%, to $109.58.
Consumer staples also fell, with Alimentation Couche-Tard snoozing 43 cents to $75.71, while Jamieson Wellness lost 11 cents to $26.49.
The Bank of Canada is set to announce its next monetary policy decision on Wednesday, where the central bank is widely expected to leave interest rates unchanged, in its third meeting this year. However, markets are pricing in a little over 65% bets of a cut in June.
ON BAYSTREET
The TSX Venture Exchange recovered 2.67 points to 588.17.
All but three of the 12 TSX subgroups were in the green Tuesday, led by materials, better by 2.1%, gold, stronger by 1.3%, and real-estate, improving 1.4%.
The three laggards were health-care, sagging 5.9%, while consumer discretionary stocks shed 0.2%, and consumer staples lost 0.01%.
ON WALLSTREET
The Dow Jones Industrial Average closed just below the flatline Tuesday as investors struggled to regain some positive momentum ahead of the release of key U.S. inflation data.
The 30-stock index let go of 9.13 points to 38,883.67.
The S&P 500 pointed higher 7.52 points to 5,209.91.
The NASDAQ surged 52.68 points to 16,306.64.
Chipmaker Nvidia dropped 2%. Other mega-cap tech names were also negative for the day, with Meta down 0.5% and Netflix down 1.6%.
The March consumer price index report is slated for release Wednesday at 8:30 a.m. ET. Economists surveyed by Dow Jones expect inflation to have increased 0.3% in March on a month-over-month basis.
Prices for the 10-year Treasury gained ground, lowering yields to 4.36% from Monday’s 4.42%. Treasury prices and yields move in opposite directions.
Oil prices faltered $1.10 to $85.33 U.S. a barrel.
Gold prices jumped $20.90 to $2,371.900 U.S. an ounce.
