TSX Shows Solid Gains

Equities in Canada’s largest market made headway Tuesday, rose on Tuesday as commodity-focused shares led gains, although a rise in Treasury and domestic bond yields following strong U.S. retail sales and signs of a slowdown in the local housing market capped gains.

The S&P/TSX Composite rumbled ahead 89.91 points to pause for lunch Tuesday at 21,772.99.

The Canadian dollar lost 0.21 cents at 79.69 cents U.S.

Tech stocks ruled the roost during the morning, ruled most so by Docebo, leaping $5.21, or 5.8%, to $95.21.

Health-care stocks dawdled, as Cronos Group fell 24 cents, or 3.2%, to $7.19.

On the economic slate, Canada Mortgage and Housing Corporation reported housing starts amounted to 264,264 units in October, down from 270,661 units in September.

Canada's Trans Mountain oil pipeline has been shut down temporarily because of rainstorms pounding parts of the province of British Columbia.

ON BAYSTREET

The TSX Venture Exchange dropped 10.73 points, or 1.1%, to 1,010.76.

All but three of the 12 TSX subgroups were higher, as information technology and gold each climbed 0.5%, while industrials took on 0.4%.

The three laggards were health-care, down 1.7%, while consumer discretionary and materials each stepped back 0.2%.

ON WALLSTREET

U.S. stocks gained on Tuesday after a strong October retail sales report and better-than-expected third-quarter results from Home Depot and Walmart signaled the U.S. consumer is still ramping up spending even in the face of rising prices.

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The Dow Jones Industrials spiked 173.16 points to move into noon hour at 36,260.61.

The S&P 500 picked up 22.59 points to 4,705.35.

The NASDAQ Composite screamed higher 84.46 points to 15,938.30.

Home Depot was the biggest gainer in the Dow by far on Tuesday, jumping 5% after results topped estimates and net sales jumped 9.8% last quarter. The home improvement retailer also said fiscal fourth-quarter sales were already tracking higher than last quarter, pointing to a possible strong year-end finish.

In another sign of consumer strength, Walmart reported third-quarter profit and revenue well above estimates, and U.S. same-store sales jumped 9.2%, excluding fuel. However, digital sales saw growth of just 8%, compared to Street expectations of 20.5%. The shares pulled back 1.9%.

Retail sales figures for October also came in 1.7%, higher than 0.7% in September, the U.S. Census Bureau reported Tuesday. Economists surveyed by Dow Jones expected sales to have jumped by 1.5%.

On Monday afternoon, President Joe Biden signed the $1-trillion bipartisan infrastructure bill into law. The package includes funding for transportation, broadband and utilities.

Prices for 10-year Treasurys lost ground Tuesday, raising yields back to Monday’s 1.63%. Treasury prices and yields move in opposite directions.

Oil prices regained 18 cents to $81.06 U.S. a barrel.

Gold prices capsized 10 dollars to $1,856.90 U.S. an ounce.