Canada’s main stock index rose to a record high on Tuesday, led by gains in metal mining shares, as investors parsed the country’s mixed inflation data while awaiting trade developments.
The TSX Composite Index hiked 105.68 points to break for lunch Tuesday at 26.077.61.
The Canadian dollar recovered 0.05 cents at 71.70 cents U.S.
Markets in Canada were closed Monday for Victoria Day.
On Sunday, U.S. Vice President J.D. Vance discussed fair trade policies with Prime Minister Mark Carney in Rome, Vance’s office said in a statement, as the two nations try to resolve a dispute over tariffs.
Today, finance leaders from the Group of Seven industrialized democracies will meet in Canada. They will strive for unity on non-tariff issues, but may have trouble reaching consensus with a Trump administration intent on pushing allies to serve U.S. interests.
Information and technology stocks fell 1%, with bitcoin miner Bitfarms leading declines in the subindex with a drop of 5.5 cents, or 3.4%, to $1.54.
On the economic slate, Statistics Canada’s Consumer Price Index rose 1.7% year over year in April, down from a 2.3% increase in March. On a seasonally adjusted monthly basis, the CPI fell 0.2% in April.
ON BAYSTREET
The TSX Venture Exchange popped 8.34 points, or 1.2%, to 681.18.
All but four of the 12 subgroups were in the green midday, led by gold, surging 3.7%, materials, up 2.8%, and consumer staples, ahead 1.1%.
The three laggards were weighed most by information technology, down 1.2%, while health-care dumped 1%, and energy paled 0.6%.
ON WALLSTREET
The S&P 500 slipped Tuesday, as investors digested strong gains from recent sessions.
The Dow Jones Industrials tumbled 157.44 points to 42,634.63.
The much-broader index fell back 80.61 points to 5,939.35
The NASDAQ Composite lost 80.61 points to 19,134.86.
Tech was the worst-performing S&P 500 sector, losing around 0.9%. Nvidia lost 2%. Meta Platforms, Apple and Microsoft were also lower on the day.
Home Depot traded slightly higher after the home improvement retailer stuck by its full-year guidance, expecting total sales for the full year to grow by 2.8%. CFO Richard McPhail also said the company doesn’t have any plans to raise prices in the face of higher tariffs.
The moves come a day after the S&P 500 eked out a small gain to stretch its winning streak to six days. That’s its longest run since a nine-day streak that ended earlier this month.
While Monday’s gains were marginal, they did add to what has been a rapid and sharp rebound for stocks over the past five weeks. The S&P 500 is now about 3% from its record high.
The 30-year Treasury yield was last three basis points higher at 4.971% after briefly surging past 5% on Monday.
Treasury prices and yields move in opposite directions.
Oil prices declined 42 cents to $62.27 U.S. a barrel.
Prices for gold rallied $46.30 to $3,270.80