TSX Rises on Tech Boost

Canada's main stock index climbed on Tuesday, led by technology shares, as investors assessed corporate earnings and focused on trade deals with the U.S. ahead of the August 1 tariff deadline.

The TSX Composite Index surged 102.6 points to begin Tuesday trading at 27,508.02.

The Canadian dollar dipped 0.16 cents at 72.79 cents U.S.

A much-anticipated European Union-U.S. trade agreement was announced on Sunday. However, the initial relief over Europe's 15% levy on exports to the U.S. quickly soured when set against the 1% to 2% that stood before U.S. President Donald Trump took office.

ON BAYSTREET

The TSX Venture Exchange dropped 5.64 points, to open Tuesday at 783.49.

All but two of the 12 TSX subgroups were higher Tuesday, with information technology soaring 2.7%, while real-estate charged ahead 1.6%, and industrials powered higher 1%.

The two laggards were materials, slumping 0.2%, and gold, off 0.02%.

ON WALLSTREET

The S&P 500 was little changed on the heels of some mixed corporate earnings after eking out yet another record even as trading remains restrained.

The Dow Jones Industrial Average let go of 29.45 points to 44,808.11.

The much broader index tacked on 8.23 points to 6,398.

The NASDAQ added 41.39 points to 21,219.98.

This week is a key stretch for corporate earnings, with “Magnificent Seven” names Meta Platforms, Microsoft, Apple and Amazon all set to report results on Wednesday and Thursday. As it stands, 170 S&P 500 companies have reported their quarterly results, and more than 83% have beaten expectations, according to FactSet data.

Traders evaluated some mixed results on Tuesday. Shares of Boeing were lower even after a solid earnings print as the company delivered the most airplanes since 2018.

Procter & Gamble stock inched higher on a better-than-expected full-year revenue forecast and the naming of an insider as CEO.

Other corporate results have missed the mark, with shipping giant and consumer bellwether UPS posting an earnings shortfall and not issuing guidance.

Whirlpool missed second-quarter analyst estimates and slashed its dividend.

The looming Federal Reserve interest rate decision on Wednesday has kept gains check for equities, however, even as the central bank is largely expected to keep its benchmark unchanged. Investors will also parse a slew of economic data this week, including a reading of gross domestic product and private payroll data due out Wednesday.

Prices for the 10-year treasury forged ahead, lowering yields to 4.37% from Monday’s 4.41%. Treasury prices and yields move in opposite directions.

Oil prices moved forward 78 cents to $67.48 U.S. a barrel.

Gold prices recovered $5.60 to $3,315.60 U.S. an ounce.