CN, Teck in focus
A strong earnings report from Canadian National Railway helped push the
The S&P/TSX composite index hiked 65.14 points to end Tuesday at 15,315.13
The Canadian dollar was unchanged at
Canadian National Railway beat expectations as its second-quarter profit increased 18% to
Adjusted profit amounted to
CN also delivered a strong outlook and its shares ran up
Other big Canadian corporations reporting earnings this week include mining giant Teck Resources, telecom Rogers Communications and grocer Loblaw Cos. Ltd., all on Thursday.
Teck shares gained
The metals and mining sector advanced, while September copper rose
The energy sector climbed as Imperial Oil gathered
The gold sector declined as Barrick Gold dumped
All but three of the 14 Toronto subgroups were winners on the day, especially global base metals, up 1.4%, consumer staples, advancing 1.3%, and the metals and mining group, growing 1.2%.
The three laggards were gold, off 1.2%, health-care, down 0.8%, and materials, sliding 0.3%.
A dose of healthy company earnings gave investors extra energy Tuesday.
The Dow Jones Industrials jumped 61.81 points to 17,113.54
The S&P 500 gained 9.90 points to 1,983.53, and the NASDAQ composite hiked 31.32 points to 4,456.06
Food and beverage stocks were on the move as some major restaurant chains released second quarter results.
Shares of Chipotle skyrocketed 12% after the burrito maker posted earnings late Monday that surged from the year earlier despite higher menu prices.
But McDonald's sank after the fast food giant reported second quarter revenue and profit that fell short of expectations due to lower sales in the U.S. and
Domino's stock delivered for
Investors also got earnings from Coca-Cola Tuesday to wash down all those restaurant results. But the stock fizzled after saying its earnings for the full year are expected to suffer from unfavorable exchange rates.
The internet is king for Comcast, which said in its second-quarter earnings report Tuesday that a 15% increase in high speed internet users offset losses from so-called "cord cutters" who are dropping cable TV subscriptions.
The stock moved higher on the news. So did shares of Time Warner Cable, which Comcast has an agreement to buy.
Part of the reason consumers are ditching traditional cable is due to companies like Netflix, which now boasts over 50 million members. Still, the stock dipped over 5% Tuesday since the company said in its earnings report that U.S. streaming subscriptions were lower compared to the year earlier.
Verizon also experienced an earnings bump, driven by strong revenues from its wireless and
Investors will get more insight into the intersection of business and tech Tuesday when Apple and Microsoft announce quarterly results after the bell.
Shares of Herbalife jumped over 20% even though a major hedge fund manager held a press conference revealing what he found after a nearly two-year probe into the company's nutrition clubs.
Prices for 10-year U.S. Treasuries regained lost ground, lowering yields to Monday's 2.47%. Treasury prices and yields move in opposite directions.
Oil prices sank
Gold prices lost
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