The sky appeared to be the limit for stocks in Toronto Tuesday, stocks which climbed to new record levels, guided by cannabis and tech issues.
The TSX Composite triumphed 101.62 points to 21,086.99.
The Canadian dollar picked up 0.06 cents to 80.87 cents U.S.
Cannabis stocks ruled the roost Tuesday, with Tilray sprinting $1.87, or 15%, to $14.35, while Cronos Group ahead 50 cents, or 7.5%, to $7.16.
Among techs, BlackBerry reached higher $1.55, or 12.4%, to $14.10, and Alithya Group improving 13 cents, or 3.7%, to $3.65.
In the real-estate sector, Summit Industrials REIT hiked 44 cents, or 1.9%, to $23.29, while Cominar REIT added 14 cents, or 1.4%, to $10.33.
Consumer staples did, however, get bruised, notably, SunOpta, sliding 42 cents, or 4.2%, to $9.70, while Loblaw Companies ditched $1.03, or 1.1%, to $92.03.
In utilities, Fortis Inc. settled 90 cents, or 1.6%, to $55.44, while Emera lost 37 cents to $58.51.
Among consumer discretionary stocks, BRP Inc. collapsed $1.29, or 1.1%, to $115.53, while Linamar backpedaled 76 cents, or 1.1%, to $68.67.
The TSX Venture Exchange jumped 12.57 points to 950.38.
Seven of the 12 TSX subgroups were better on the day, with health-care popping 6.4%, information technology clicking 1.2% higher and real-estate up 0.5%.
The five laggards were burdened by consumer staples, down 0.3%, while utilities and consumer discretionary each lost 0.2%.
U.S. stocks climbed on Tuesday as major companies continued to report strong third-quarter earnings, easing concerns that persistent COVID cases and rising costs would derail corporate America’s profit recovery.
The Dow Jones Industrials vaulted 198.70 points to 35,457.31.
The S&P 500 gained 33.17 points to 4,519.63, rising for a fifth straight day.
The NASDAQ Composite spiked 107.28 points to 15,129.09.
Dow member Travelers saw its shares gain more than 1.6% after the insurance company’s quarterly earnings report topped expectations.
Procter & Gamble continued the bullish trend with better-than-expected earnings, but its shares dipped nearly 1.2%. The consumer products giant said it is raising prices to cover rising commodity and freight costs and warned that inflation may continue.
Elsewhere, Walmart shares gained 2.1% after Goldman Sachs added the big-box retailer to its conviction buy list, saying the stock could rally nearly 40%.
As of Tuesday morning, 82% of S&P 500 companies that have reported earnings beat expectations, according to FactSet. Taking into account those reports and estimates for those to come, third-quarter profit growth will come in at 30%
Other major reports after the bell Tuesday include Netflix and United Airlines.
Prices for 10-year Treasurys faded, raising yields to 1.64% from Monday’s 1.59%. Treasury prices and yields move in opposite directions.
Oil prices regained 41 cents to $82.85 U.S. a barrel.
Gold prices regrouped $4.30 to $1,770.00U.S. an ounce.