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Canada’s broader TSX Composite Index rallied on Tuesday amid a recovery in the energy and technology sectors. The index gained 37.57 points or 0.91% and settled at 20,270.65.
The TSX energy index gained 0.46% while the Information Technology index rose by 0.48% as shares of Shopify Inc. (TSX:SHOP) surged by 2.0%. Healthcare sector also popped up by 0.18% as several cannabis firms including OrganiGram posted increased quarterly net earnings. OrganiGram stocks gained 12.2%.
However, the decline in industrials and base metals sectors negated the overall gains.
1-Year Price Chart. Analysis by Kalkine Group
TSX Gainers and Losers
Actively Traded Stocks
Bombardier (TSX:BBD) was the most actively traded stock with 12.89 million stocks exchanged hands, followed by TC Energy Corporation (TSX:TRP) with 9.78 million volume traded, and Toronto-Dominion Bank (TSX:TD)with 9.02 million volume traded.
Wall Street
A hotter-than-expected inflation data in the United States on Tuesday overshadowed a good start to the second-quarter earnings season. The CPI increased by 5.4% year over year in June, while the core rate, which excludes food and energy prices, increased by 4.5%, the largest increase since September 1991 and well above the forecast of 3.8%. The Dow Jones Industrial Average slipped 0.3% from its high to 34,888.79, the S&P 500 dipped 0.45 to 4,369.21 while the Nasdaq fell 0.4% to 14,677.65.
Commodity Update
Gold bounced back to positive trajectory and traded at US$ 1,809.90 up by 0.22%. Crude also traded on a higher note as Brent Oil gained 1.77% to US$ 76.49/bbl, while WTI Crude Oil also closed higher at US$ 75.25/bbl up by 1.55%.
Currency News
The Canadian Dollar lost some grounds against the US Dollar on Tuesday, while USD/CAD ended at 1.2510, climbed 0.47%.
On July 13, 2021, the U.S. Dollar gained for the second straight session against the basket of major currencies and ended at 92.80, surged 0.59%.
Money Market:
On July 09, 2021, the U.S. 10-year bond yield jumped 3.69% and closed at 1.418.
The Canada 10-year bond yield also soared 2.73% on Tuesday and ended at 1.353.
