Canada’s main stock index increased on Tuesday, driven by geopolitical tensions and uncertainties surrounding tariffs, which boosted the prices of oil, gold, and copper. Copper prices saw a slight uptick over C$7.44 as markets kept an eye on the metal’s movement to the US amid potential tariff concerns. However, the gains were tempered by a stronger dollar.
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Meanwhile, US stocks tried to keep relatively stable after the major indices rose on optimism that the president might scale back his initial plans for extensive tariffs. Investors also assessed consumer confidence data that could influence the market in the future. The Conference Board’s monthly confidence index fell to 92.9, below forecasts. The measure for future expectations dropped to 65.2, the lowest reading in well over a decade.
The Canadian dollar traded for 69.93 cents US compared to 69.82 cents US on Tuesday.
US crude futures traded $0.31 lower at US$68.80 a barrel, and the Brent contract lost $0.21 to US$72.79 a barrel.
The price of gold was up US$15.63 to US$3,024.60.
In world markets, the Nikkei was up 172.05 points to ¥37,780.54, the Hang Seng was down 561.31 points to HK$23,344.25, the FTSE up 25.79 points to ₤8,663.80, and the DAX was up 252.10 points to €23,104.76.
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(Top image generated with AI.)