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TSX Back in Plus Values



Equities throughout North America returned to their positive ways Tuesday after a fairly brutal Monday, in which investors registered their disappointment at the holdup in interest rate cuts by the U.S. Federal Reserve.

The TSX Composite remained positive 85.85 points, to end Tuesday at 20,957.74

The Canadian dollar forged ahead 0.33 cents at 74.15 cents U.S.

Health-care led the gainers, with Tilray picking up 16 cents, or 6.5%, to $2.64, while Bausch Health Companies jumped 36 cents, or 3.4%, to $10.90.

In industrials, Ballard Power Systems moved higher 18 cents, or 4.4%, to $4.28, while CAE Inc. jumped 86 cents, or 3.3%, to$27.31.

In energy, Precision Drilling hiked $3.80, or 4.8%, to $83.76, while Shawcor took on 45 cents, or 2.9%, to $15.95.

Techs went the other way, though, with Celestica down $1.13, or 2.3%, to $48.87, while Kinaxis doffing $4.11, or 2.5%, to $157.48.

On the economic board, Statistics Canada reported the total monthly value of building permits in Canada decreased 14.0% from November to $9.2 billion in December.

The IVEY PMI nosed up to 56.5 in January from 56.3 in December, but fell sharply from January 2023’s reading of 60.1.

ON BAYSTREET

The TSX Venture Exchange lost 0.04 points to 548.16.

All but one of the 12 subgroups gained back Tuesday what they’d lost Monday, as health-care grew 2.7%, industrials advanced 0.7%. and energy gained 0.6%.

The lone laggard was information technology, sliding 0.6%.

ON WALLSTREET

The Dow Jones Industrial Average climbed on Tuesday as Wall Street assessed the latest batch of corporate earnings and the timeline for rates cuts from the Federal Reserve.

The 30-stock index closed the session up 141.24 points to 38,521.36.

The S&P 500 index regained 11.42 points to 4,954.23.

The NASDAQ index gained 11.32 points to 15,609.

Palantir Technologies surged 19% after the company posted a revenue beat in the fourth quarter, while Spotify Technology popped more than 6% after topping expectations and posting an increase in Premium subscribers.

Tuesday marks around the halfway point of the earnings season, with reports from Amgen, Chipotle Mexican Grill and Ford after the bell.

Prices for the 10-year Treasury gained, lowering yields to 4.09% from Monday’s 4.17%. Treasury prices and yields move in opposite directions.

Oil prices perked 71 cents to $73.49 U.S. a barrel.

Gold prices brightened $9.20 to $2,052.10.



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