TSX Celebrates with Gains

Toronto stocks survived an up-and-down session and finished in the green Tuesday, spurred largely by resource stocks.

The TSX jumped 41.79 points to conclude Tuesday at 19,898.86.

The Canadian dollar dipped 0.17 cents at 74.48 cents U.S.

Elsewhere, Advantage Oil weighed the energy segment down with a loss of 19 cents, or 2.3%, to $8.24, while Arc Resources lost 50 cents, or 3.1%, to $15.90.

In utilities, Innergex Renewable sank 79 cents, or 4.8%, to $15.60, while Boralex dipped $1.11, or 2.7%, to $39.89.

Among industrial interests, Richelieu Hardware tumbled $1.25, or 3.3%, to $37.10, while Canadian Pacific docked $1.53, or 1.5%, to $102.50.

Gold stocks flourished, as Equinox Gold advanced 40 cents, or 7.6%, to $5.68, while Iamgold grabbed 12 cents, or 3.4%, to $3.63.

In other metals, Ivanhoe Mines captured 65 cents, or 5.8%, to $11.95, while Pan American Silver gained 68 cents, or 2.9%, to $24.21.

In real-estate, FirstService REIT units jumped $3.40, or 1.9%, to $178.36, while Allied Properties REIT leaped 73 cents, or 2.7%, to $27.88.

ON BAYSTREET

The TSX Venture Exchange soared 7.57 points, or 1.3%, to 594.25.

Seven of the 12 subgroups gained ground by the close, as gold brightened 2%, materials forged ahead 0.7%, and real-estate flew 0.6%.

The five laggards were weighed most by energy, tailing off 0.9%, utilities, off 0.7%, and industrials, down 0.6%.

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ON WALLSTREET

Stocks advanced Tuesday as investors continued building on the New Year’s early rally while waiting for economic data and corporate earnings coming later in the week.

The Dow Jones Industrials triumphed 186.45 points to conclude Tuesday at 33,704.10

The S&P 500 was up 27.16 points to 3,919.25. The S&P 500 was up about 1.1% in the first five days of trading for 2023 through Monday, which some say is a good omen for the rest of the year.

The NASDAQ Composite Index advanced 106.98 points, or 1%, to 10,742.63. The average has rallied for the past three sessions as optimism over cooling inflation pushed investors to beaten-up technology stocks. It was the index’s first three-day win streak since November.

Wells Fargo upgraded AT&T to overweight from an equal weight rating, saying that shares look more attractive than Verizon.

Fed Chair Jerome Powell spoke Tuesday before the bell to the need for the central bank to stay politically independent while responding to inflation. Futures were little changed in response to his remarks.

Prices for the 10-year Treasury fell back, raising yields to 3.61% from Monday’s 3.53%. Treasury prices and yields move in opposite directions.

Oil prices took on 31 cents to $74.94 U.S. a barrel.

Gold prices climbed $4.10 to $1,881.90 U.S. an ounce.