Canada’s main stock index opened higher on Tuesday, boosted by financial shares as investors cheered upbeat quarterly earnings by nation’s major banks.
The TSX Composite Index ground its way into the green by Monday’s close, picking up 4.23 points to 25,151.26
The Canadian dollar shed 0.26 cents to 70.10 cents U.S.
Bank of Montreal’s first-quarter profit rose on strong capital markets business, while Bank of Nova Scotia’s quarterly profit fell due to an impairment loss from its deal to transfer Latin American operations to Colombian bank Davivienda.
BMO shares ballooned $7.67, or 5.4%, to $150.02.
U.S. President Donald Trump stated on Monday tariffs on Canadian and Mexican imports remain “on time and on schedule”. The statement was made despite both countries’ efforts to enhance border security and curb fentanyl flow into the U.S. before the March 4 deadline.
ON BAYSTREET
The TSX Venture Exchange faded 6.44 points, or 1%, to 620.39.
Eight of the 12 subgroups were in positive territory in the first hour, led by health-care, ahead 1.6%, real-estate, climbing 1.3%, while consumer staples surges 1%.
The four laggards were weighed most by gold, faltering 1.6%, information technology, retreating 1.4%, while energy slid 1.2%.
ON WALLSTREET
The S&P 500 ticked down Tuesday, on pace for its fourth consecutive losing session, with traders weighing concerns around global trade and economic growth.
The Dow Jones Industrials dropped 102.25 points to open Tuesday at 43,358.96.
The much-broader index lost 56.32 points to 5,926.93
The NASDAQ Composite jettisoned 349.67 points, or 1.8%, to 18,937.25. Nvidia’s 2.6% pullback led the tech-heavy index lower.
Nvidia is set to report earnings Wednesday after the bell. Shares are down more than 5% in 2025, underperforming the broader market.
Bitcoin prices fell below $90,000 to a three-month low. The blue-chip coin is trading almost 20% below its all-time high reached on President Donald Trump’s inauguration day.
Investors are also mulling Trump’s latest remarks on trade. On Monday, Trump announced that tariffs on imports from Canada and Mexico “will go forward” after the current 30-day moratorium ends. The White House is also preparing for tighter curbs over China’s semiconductor exports, according to a report from Bloomberg News.
Prices for the 10-year Treasury gained sharply, lowering yields to 4.29% from Monday’s 4.40%. Treasury prices and yields move in opposite directions.
Oil prices subtracted $1.27 to $69.43 U.S. a barrel.
Prices for gold dropped $22.00 an ounce to $2,941.20 U.S.
