Baystreet.ca - Equities rose on Tuesday, led by gains in health-care shares, while investors await a raft of earnings and U.S. Federal Reserve's rate decision to gauge the outlook for global monetary policy.
The TSX Composite Index rebounded 105.7 points to open Tuesday at 22,885.27.
The Canadian dollar nicked ahead 0.01 cents at 72.18 cents U.S.
Some major Canadian companies, such as BCE (TSX:BCE), Canadian Natural Resources (TSX:CNQ), Canadian Pacific Kansas City (TSX:CP) and Enbridge (TSX:ENB), are due to report quarterly earnings this week.
BCE shares gained six cents to $46.16, while those for Natural Resources copped 16 cents to $47.40. CP shares rumbled ahead 40 cents to $114.46, while shares in Enbridge took on 20 cents to $51.04.
Global miner BHP Group and Canada-listed Lundin Mining (TSX:LUN) will jointly take over developer Filo Corp for $4.5 billion, as they move to progress the South American projects. Lundin shares captured 12 cents to $14.36.
ON BAYSTREET
The TSX Venture Exchange slumped 0.44 points early Tuesday to 573.93.
All but one of the 12 TSX subgroups were positive, with health-care sprinting 3.4%, while consumer staples and industrials each registered higher 0.6%.
Only real-estate missed the party, and not by much, losing but 0.01%.
ON WALLSTREET
The S&P 500 rose on Tuesday as investors digested key corporate earnings and looked to the Federal Reserve’s policy meeting.
The Dow Jones Industrials grabbed 156.04 points to 40,695.97.
The much-broader index poked up 0.84 points to 5,464.22.
CrowdStrike (NASDAQ:CRWD) shares fell more than 6% after media reports that Delta Air Lines (NYSE:DAL) hired attorney David Boies to seek damages from CrowdStrike and Microsoft (NASDAQ:MSFT) after an outage this month led to thousands of flight cancellations.
Merck shares fell more than 3% as weaker-than-expected guidance for the full year overshadowed a strong second-quarter report. Pfizer (NYSE:PFE), meanwhile, climbed 0.5% on stronger-than-anticipated earnings and revenue. The company also raised its full-year top and bottom line guidance.
Investors will also watch closely for numbers from Microsoft, Advanced Micro Devices (NASDAQ:AMD) and Starbucks (NASDAQ:SBUX) after the closing bell.
The earnings season has been a solid one thus far. Of the more than 230 S&P 500 names that have reported, about 80% have beaten earnings expectations,
Prices for the 10-year Treasury stayed put, with yields not budging from Monday’s 4.17%.
Oil prices decreased 80 cents at $75.01 U.S. a barrel.
Gold prices shone brighter $12.70 to $2,390.50