Equities in Canada’s largest centre moved tentatively into positive country by Tuesday’s close, as resource strength overcame diffidence by health-care and tech issues.
The TSX managed to hold onto gains of 32.79 points to observe the closing bell Tuesday at 19,657.53.
The Canadian dollar gained 0.31 cents to 73.54 cents U.S.
Gold mounted the top of the podium, with Equinox Gold claiming 38 cents, or 5.8%, to $6.91, while Wesdome Gold vaulted 35 cents, or 4.6%, to $7.90.
Materials were strong as well, as Lundin Mining climbed 52 cents, or 6.7%, to $8.33, while Fortuna Silver Mines grabbed 24 cents, or 5%, to $5.09.
Energy stocks rumbled higher, primarily, Spartan Delta, ahead $1.03, or 7.5%, to $14.82, while Cenovus Energy popped 57 cents, or 2.5%, to $22.77.
This afternoon, around 4 p.m. ET, Finance Minister Chrystia Freeland will present this year’s budget to Parliament.
The TSX Venture Exchange captured 10.27 points, or 1.7%, to 620.59.
Seven of the 12 TSX subgroups were higher, with gold brightening 1.4%, energy progressing 1.2%, materials surpassing the session before by 0.8%.
The five laggards were weighed most by health-care, slumping 2.3%, while real-estate and information technology each lost 1.1%.
The NASDAQ Composite fell Tuesday as an uptick in rates put pressure on the tech-heavy index.
The Dow Jones Industrials removed 37.83 points to 32,394.25.
The S&P 500 faded 6.26 points to 3,971.27.
As for the NASDAQ, it finished the day down 52.76 points to 11,716.08.
Bond yields rose, with the rate on the two-year U.S. Treasury note rising back above 4%, putting pressure on stocks and tech names in particular. Rising rates make future profits, like those promised by growth companies, less attractive.
However, bank stocks turned negative on Wednesday following a contentious hearing before the Senate Banking Committee. Three top regulators each said they favor more stringent rules for banks with more than $100 billion in assets. Regional banks fell 1% in afternoon trading.
A slew of positive news reports helped lift sentiment on Wall Street Monday, including First Citizens BancShares’ agreement to buy large parts of Silicon Valley Bank. Further, various news outlets reported that deposit flows out of small institutions and into banking behemoths have slowed.
Prices for the 10-year Treasury dropped a bit, raising yields to 3.56% from Monday’s 3.54%. Treasury prices and yields move in opposite directions.
Oil prices added 62 cents to $73.43 U.S. a barrel.
Gold prices gathered $21.70 to $1,975.50 U.S. an ounce.