(MENAFN- Baystreet) TSX at Monthly Peak
TSX Gains at Outset
Futures Set for Small Gains
Huge Gains for TSX
TSX Jumps to 3-Week High Previous Articles Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Tuesday, May 7, 2024
TSX Again Positive Nutrien, Advantage in Winner's Circle
Equities in Toronto kept their streak going, if only slightly higher, powered by resource issues.
The TSX Composite gained 31.15 points to conclude Tuesday at 22,290.62.
The Canadian dollar fell 0.3 cents at 72.85 cents U.S.
Materials led the parade upward, with Nutrien hiking $2.02, or 2.7%, to $75.82, while Lundin Mining climbed 35 cents, or 2.2%, to $16.19.
In energy, Advantage Oil gathered 14 cents, or 1.3%, to $11.09, while Precision Drilling picked up $1.08, or 1.1%, to $100.02.
In communications stocks, Telus added six cents to $22.54, while BCE took on five cents to $45.91.
Health-care put a brake on things, with Tilray falling eight cents, or 2.9%, to $2.73, while Bausch Health Companies retreated seven cents to $10.20.
On matters economic, the IVEY PMI index hiked to 63 in April, well above the March reading of 57.5 and towering over the 56.8 figure for April 2023.
ON BAYSTREET
The TSX Venture Exchange strengthened 3.14 points to 593.24.
The 12 TSX subgroups were evenly divided, with materials ahead 0.7%, energy progressing 0.5%, while communications were up 0.3%.
The half-dozen laggards were weighed most by health-care, down 1%, while real-estate and consumer staples each backtracked 0.5%.
ON WALLSTREET
The Dow Jones Industrials gathered 31.53 points to conclude the session at 38,883.80.
The S&P 500 added 6.95 points to 5,194.18.
The NASDAQ took on 31.23 points to 16,3.
Disney shares fell more than 10% after the media and entertainment giant posted a slight revenue miss but exceeded quarterly earnings expectations. Shares of defense-technology firm Palantir plunged roughly 14.5% on weaker-than-expected guidance.
Peloton's stock price jumped more than 13.5% on news that private equity firms have been considering a buyout of the fitness company.
Wall Street is coming off a winning session, with investors riding the momentum seen late last week after fresh U.S. jobs data alleviated concerns that the economy was too hot and Fed Chairman Jerome Powell ruled out an interest rate hike as the central bank's next move.
To be sure, other conflicting economic data - such as an uptick in the employment cost index - indicate there are still questions surrounding the actual trajectory of inflation.
Prices for the 10-year Treasury jumped, lowering yields to 4.42% from Monday's 4.49%. Treasury prices and yields move in opposite directions.
Oil prices removed 18 cents to $77.30 U.S. a barrel.
Gold prices docked $8.60 to $2,322.60.
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