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Stocks Continue Positive by Noon Hour

Canada's main stock index built midday Tuesday on gains established early in the session as higher oil ...

Canada's main stock index built midday Tuesday on gains established early in the session as higher oil prices pushed up energy shares, helping the index recover some its losses from Monday.

The S&P/TSX Composite Index improved 44.54 points to greet noon at 15,633.93

The Canadian dollar inched forward 0.09 cents at 76.53 cents U.S.

The largest percentage gainer on the TSX was Birchcliff Energy, which rose 20 cents, or 6.1% to $ 3.49, after brokerage CIBC raised price target on the stock, while the largest decliner was Alimentation Couche-Tard, down $3.98, or 6.3%, to $59.73.

Among the most active Canadian stocks by volume were First Quantum, down 1.1% at $20.31. Trican Well rose 1.9% to $3.22 and Lundin Mining fell 0.8% to $8.63.

U.S. President Donald Trump appears to be "enthusiastic" about coming to an agreement on the North American Free Trade Agreement, Prime Minister Justin Trudeau said on Monday amid signs the pace of talks is accelerating.

Economically speaking, Statistics Canada reported this morning that wholesale sales edged up 0.1% to $63.3 billion in January. Sales were up in four of seven sub-sectors, accounting for 66% of total wholesale sales.

ON BAYSTREET

The TSX Venture Exchange sagged 3.88 points to 831.56

Eight of the 12 TSX subgroups remained in the green midday, with energy gushing 1.6%, consumer discretionary issues advancing 1.1%, and information technology, up 1%.

The four laggards were weighed most heavily by health-care, down 1.4%, while consumer staples and gold lost 0.9% each.

ON WALLSTREET

U.S. stocks climbed on Tuesday as the Federal Reserve started a two-day monetary policy meeting, with most market participants expecting a rate hike.

The Dow Jones Industrial Average remained buoyant 95.22 points to 24,706.13, with Intel as the best-performing stock.

The S&P 500 slipped 0.73 points to 2,712.19, despite gains in the energy sector.

The NASDAQ composite Index fell into the red 5.88 points to 7,338.36

Shares of large-cap tech names Netflix and Amazon both traded higher on Tuesday.

In corporate news, shares of Roku rose as much as 4.9% after analysts at Oppenheimer upgraded them to perform from underperform, citing catalysts like accelerated cord-cutting trends.

Market expectations for a March rate hike are 94.4% as of Tuesday morning. While most market participants expect the Fed to raise rates by 25 basis points, they will also look for clues about whether the central bank will stay on track to hike three times this year or if it expects to further tighten policy.

The Fed is scheduled to make its monetary announcement Wednesday at 2 p.m. ET, with new Chair Jerome Powell set to give his first news conference.

Prices for the benchmark 10-year Treasury note dipped, lowering yields to 2.88% from Monday’s 2.86%. Treasury prices and yields move in opposite directions.

Oil prices improved $1.54 a barrel to $63.60 U.S.

Gold prices dropped $6.40 to $1,311.40 U.S. an ounce.