TSX Points Higher

Equities in Toronto improved Tuesday, amid the uncertainty of tariffs still being threatened by the White House, set to take effect Wednesday.

The TSX Composite Index hiked 115.78 points to close Tuesday at 25,033.28.

The Canadian dollar gained 0.40 cents to 69.89 cents U.S.

First Quantum Minerals said on Monday it had agreed to discontinue two arbitration proceedings related to its Cobre Panama copper mine. First Quantum shares jumped 95 cents, or 4.9%, to $20.30.

Rogers Communications dropped $2.26, or 5.9%, to $36.17, after brokerage Scotiabank cut the company's rating to 'sector perform' from 'sector outperform'. Elsewhere in telecoms, BCE fell 40 cents, or 1.2%, to $32.63.

In techs, Coveo Solutions moved higher 21 cents, or 3.9%, to $5.61, while Bitfarms gained three cents, or 2.7%, to $1.16.

Utilities carried the day, as Superior Plus squeezed ahead 15 cents, or 2.3%, to $6.58, while Hydro One advanced 67 cents, or 1.4%, to $49.06.

In consumer staples, Saputo captured 40 cents, or 1.6%, to $25.23, while George Weston hiked $2.69, or 1.1%, to $248.02.

In health-care issues, Bausch Health Companies docked 38 cents, or 4.1%, to $8.95, while Tilray lost a cent, or 1.1%, to 93 cents.

Gold took a beating, too, as Seabridge Gold slid 39 cents, or 2.3%, to $16.36, while Wesdome Gold retreated 45 cents, or 2.6%, to $16.69.

First Quantum Minerals said on Monday it had agreed to discontinue two arbitration proceedings related to its Cobre Panama copper mine. First Quantum shares jumped 95 cents, or 4.9%, to $20.30.

In techs, Coveo Solutions moved higher 21 cents, or 3.9%, to $5.61, while Bitfarms gained three cents, or 2.7%, to $1.16.

Trump is set to announce "reciprocal tariffs" to bring U.S. tariffs to other countries' levels on Wednesday. He said on Sunday the levies will include all countries, but specific details were scant.

The announcement will come at 3 pm ET on Wednesday, U.S. Treasury Secretary Scott Bessent told Fox News on Monday.

Further, the White House aides have drafted a proposal to impose tariffs of around 20% on most imports to the U.S., the Washington Post reported.

In news macroeconomic, Markit Canada Manufacturing PMI for March declined to 46.3 from February's 47.8.

ON BAYSTREET

The TSX Venture Exchange erased 2.11 points to 626.19.

Eight of the 12 TSX subgroups were positive by the close, with utilities surging 0.9%, information technology ahead 0.8%, and consumer staples better by 0.6%.

The four laggards were weighed most by telecoms, down 1.7%, health-care, ailing 1.1%, and gold, off 0.6%.

ON WALLSTREET

The S&P 500 climbed on Tuesday in another volatile session as the market awaited clarity from President Donald Trump regarding his tariff policy rollout. Wall Street also faced pressure from weaker-than-expected economic data.

The Dow Jones Industrials retreated 11.8 points to 41,989.96

The broader index regained 21.22 points to 5,633.07. The S&P 500's whipsaw moves follow a similar pattern of trading from Monday: At its high on Tuesday, the broad market index climbed 0.7%, but the benchmark was down by nearly 1% at its session low.

The consumer discretionary sector was the top performer of the day.

The NASDAQ hiked 150.6 points to 17,459.23.

The consumer discretionary sector was the top performer of the day. Shares of Tesla gained 3.6%, while Nike added 2%.

On Tuesday, The Washington Post reported that the Trump administration is considering implementing tariffs of about 20% to most imports into the U.S. To be sure, the report — which cited three sources familiar with the matter — noted that no final decision had been made.

Investors got another sour reading on the economy Tuesday due to the threat of tariffs, with the Institute for Supply Management manufacturing survey coming in lighter than expected and in contraction territory. February’s job openings were also slightly below estimates, the Bureau of Labor Statistics said on Tuesday.

On Tuesday, The Washington Post reported that the Trump administration is considering implementing tariffs of about 20% to most imports into the U.S. To be sure, the report — which cited three sources familiar with the matter — noted that no final decision had been made.

The uncertainty has put stocks on a rollercoaster ride. The S&P 500 on Monday touched a six-month low before recovering. For the first quarter, the index lost 4.6%, while the NASDAQ Composite dropped 10%. That marked the worst quarterly performance for both benchmarks since 2022. The Dow dropped 1.3% during the first three months of the year.

Prices for the 10-year Treasury rocketed, lowering yields to 4.17% from Monday’s 4.22%. Treasury prices and yields move in opposite directions.

Oil prices sank 27 cents to $71.21 U.S. a barrel.

Prices for gold edged higher 30 cents to $3,156.40 U.S.