Canada’s main stock index climbed sharply on Tuesday, lifted by strength in basic materials and technology shares, even as major U.S. benchmarks closed with mixed results.
The S&P/TSX composite index rose 326.21 points to close at 36,335.61, marking one of the stronger single-day gains for the Toronto-listed benchmark in recent sessions.
Wall Street Diverges
South of the border, the picture was less uniform. The Dow Jones industrial average slipped 185.14 points to 51,863.69, while the S&P 500 index was essentially flat, edging down just 0.06 points to 7,764.64. The Nasdaq composite bucked the trend, climbing 122.18 points to finish at 27,244.28, suggesting technology-heavy names outperformed their industrial and blue-chip counterparts in the U.S. market.
Currency and Commodities Slide
The Canadian dollar weakened slightly against its U.S. counterpart, trading at 71.10 cents US, down from 71.32 cents US on Monday.
Commodity markets moved lower alongside the currency shift. The November crude oil contract fell US$1.85 to settle at US$90.52 per barrel. Gold also retreated, with the December contract dropping US$7.50 to US$4,376.40 an ounce.
Market Snapshot — Tuesday's Close
The divergence between Canadian and U.S. markets on Tuesday came as gains in materials and technology sectors helped propel the TSX composite higher, even as broader U.S. indexes struggled to find consistent direction across sectors.
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