Canada’s main stock index traded gains and losses on Tuesday as higher precious metal prices battled a drop among top sectors. While tech led the TSX in gains, utilities led the decliners as rising long-term bond yields put pressure on rate-sensitive stocks. Investors assessed an early deluge of major corporate earnings from the United States.
As the busiest week of this earnings season continues, traders are keeping tabs on earnings reports from major companies. Traders are assessing results from heavyweight names such as Google owners Alphabet (NDAQ:GOOG), Meta Platforms (NDAQ:META), Microsoft (NDAQ:MSFT) and Reddit (NYSE:RDDT), each one closing between 1.2 per cent to 2.6 per cent higher.
The Canadian dollar traded for 71.85 cents U.S. compared with 71.99 cents U.S. on Monday.
U.S. crude futures traded $0.13 lower at $67.25 a barrel, and the Brent contract lost $0.23 to $71.19 a barrel.
The price of gold was up US$29.68 to US$2,772.56.
In world markets, the Nikkei was up 298.15 points to 38,903.68, the Hang Seng was up 101.78 points to 20,701.14, the FTSE was down 66.01 points to 8,219.61, and the DAX was down 53.55 points to 19,478.07.
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(Top image generated with AI)