TSX Climbs Nearly 150

Equities in Canada’s largest centre enjoyed triple-digit gains Tuesday, on the backs of resource issues.

The TSX gained 146.03 points to close Tuesday at 20,421.85.

The Canadian dollar eked out gains of 0.02 cents to 74.25 cents U.S.

Metals and mining stocks proved the champions Tuesday, with Lundin Mining up 41 cents, or 4.3%, to $9.69, while First Quantum Minerals surged $1.84, or 6%, to $32.94.

Energy stocks performed well, too, as Arc Resources triumphed 71 cents, or 4.4%, to $16.80, while Baytex Energy picking up 21 cents, or 4%, to $5.46.

In utilities, Transalta Renewables progressed 18 cents, or 1.5%, to $12.53, while Brookfield Infrastructure Partners tacked on 82 cents, or 1.8%, to $46.75.

Health-care stocks were bruised, as Tilray ducked 36 cents, or 9.7%, to $3.37, while Canopy Growth lost nine cents, or 4.1%, to $2.09.

In communications, Quebecor fell 79 cents, or 2.2%, to $34.57, while Rogers gave back seven cents to $65.69.

In tech issues, Absolute Software tumbled 42 cents, or 3.7%, to $10.95, while Sylogist Ltd. faded 11 cents, or 1.9%, to $5.63.

ON BAYSTREET

The TSX Venture Exchange added 7.38 points, or 1.2%, to 633.96.

All but three of the 12 TSX subgroups were higher Tuesday, with materials better by 1.3%, energy gushing 1.2%, and utilities pushing ahead 1.1%.

The three laggards were health-care, docking 1.9%, communications, down 0.2%, and information technology, on the minus side 0.1%.

ON WALLSTREET

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The S&P 500 was flat Tuesday as investors tried to shake off recession concerns ahead of the release of key inflation data later this week.

The Dow Jones Industrials gained 98.6 points to close out Tuesday at 33,685.12.

The broader index retreated 0.06 points to 4,109.05.

The NASDAQ fell 52.48 points to 12,031.88.

Cyclical stocks outperformed, even as tech names lagged. Energy names were among the top gainers in the S&P 500, with the sector up more than 1%. On the other hand, tech stocks lagged the broader index, with the information technology sector falling by more than 0.5%.

Meanwhile, CarMax shares jumped 10% after the used car retailer posted a stronger-than-expected quarterly profit. Moderna shares shed more than 2% after the biotech firm said it’s delaying its flu vaccine.

Investors are anticipating the March readings of the consumer price index, due Wednesday, and the producer price index, out Thursday. Both inflation metrics could give further clarity into how the Federal Reserve might proceed on its rate-hiking campaign.

Further, Wall Street is heading toward another season of earnings announcements, with several major U.S. banks scheduled to release their earnings reports for the first time since the series of bank crises in March. JPMorgan Chase, Wells Fargo and Citigroup are set to report Friday.

Prices for the 10-year Treasury sagged, lifting yields to 3.43% from Monday’s 3.42%. Treasury prices and yields move in opposite directions.

Oil prices regained $1.69 to $81.43 U.S. a barrel.

Gold prices recovered $15.70 to $2,019.50 U.S. an ounce.