Equities in Toronto rose on Tuesday, hitting a two-week high amid broad-based gains, as investors assessed the prospects of potential U.S.-Iran talks at this week's U.N. meeting that could help bring an end to the six-month-old Middle East
The TSX leaped 205.93 points to reach noon hour EDT Tuesday at 36,215.33
The Canadian dollar subsided 0.17 cents to 71.09 cents.
The information technology sector ?picked up momentum, with e-commerce major ?Shopify up nearly 8% and BlackBerry up 2.8%.
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.
ON BAYSTREET
The TSX Venture Exchange resurfaced 3.77 points to break for lunch at 923.80.
All but one of the 12 subgroups were positive by noon, led by health-care, haler 2.1%, information technology, bouncing 1.9%, and materials, up 1.7%.
Only financials proved negative, dropping 1.3%.
ON WALLSTREET
The NASDAQ Composite rose on Tuesday, hitting a fresh all-time intraday high, as oil prices eased for another day.
The Dow Jones Industrials backtracked 294.8 points to 51,754.03
The much-broader Index dipped 5.67 points to 7,767.13.
The NASDAQ surged 72.19 points to 27,194.29, for its second record high in as many days, supported by a 7% gain in shares of
Sandisk following a bullish call from Rosenblatt.
Viking Therapeutics shares are up 31% in morning trading Tuesday after it announced the results of its latest study for its diabetes and obesity drug, VK2735.
After 21 weeks, patients taking the drug lost between 16% and 19% of their body weight, making it competitive with rival treatments from Eli Lilly and Novo Nordisk.
The tech-heavy NASDAQ was last up 0.4%, supported by a 4% gain in shares of Sandisk following a bullish call from Rosenblatt.
Addressing the United Nations General Assembly Tuesday, President Donald Trump 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 off, raising yields to 4.97% from Monday’s 4.95%. Treasury prices and yields move in opposite directions.
Oil prices nicked higher one cent to $95.79 U.S. a barrel.
Gold prices dulled $16.40 to $4,367.50 U.S. an ounce.
