Investing.com — Canada’s main stock index, the S&P/TSX composite, tracked Wall Street higher on Tuesday, despite rising U.S. Treasury yields and hotter than expected U.S. CPI data.
The annualized reading rose by 3.2% last month, quicker than estimates for a 3.1% gain. Month-on-month, the overall consumer price index rose by 0.4% in February, in line with expectations
Tech stocks supported the market rally, led by Oracle (NYSE:ORCL), which surged over 12% on better than expected quarterly earnings, and an over 7% gain for Nvidia (NASDAQ:NVDA).
The Toronto Stock Exchange's S&P/TSX composite index ended up 0.3%, at 21,831.02, to a near two-year high.
The technology sector and industrials led the gains, both up 0.8%.
The biggest gainers of the session on the S&P/TSX Composite were Celestica Inc (TSX:CLS). (TSX:CLS), which rose 3.62% or 2.13 points to trade at 60.99 at the close. Primo Water Corp (TSX:PRMW) (TSX:PRMW) added 3.36% or 0.75 points to end at 23.08 and goeasy (TSX:GSY) Ltd (TSX:GSY) was up 3.05% or 4.89 points to 164.98 in late trade.
Biggest losers included NovaGold (TSX:NG) Resources Inc (TSX:NG), which lost 6.72% or 0.24 points to trade at 3.33 in late trade. TransAlta Corp (TSX:TA) (TSX:TA) declined 6.03% or 0.56 points to end at 8.72 and Osisko Mining (TSX:OSK) Corp (TSX:OSK) shed 5.59% or 0.16 points to 2.70.
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