Canadian Stocks Bounce Back To New Record High

(RTTNews) - Following the pullback seen in the previous session, Canadian stocks showed a notable move back to the upside during trading on Tuesday.

The benchmark S&P/TSX Composite Index climbed 169.94 points or 0.6 percent to 28,339.88, more than offsetting yesterday's loss to reach a new record closing high.

Gold stocks helped lead the way higher amid a modest increase by the price of the precious metal, with the S&P/TSX Global Gold Index surging by 1.8 percent.

Significant strength also emerged among financial stocks, as reflected by the 1.4 percent gain posted by the S&P/TSX Capped Financial Index.

Industrial stocks also saw considerable strength on the day, while weakness among consumer staples and healthcare stocks limited the upside for the broader markets.

Traders were also looking ahead to earnings news from Nvidia, with the AI darling due to report its second quarter results after the close of trading on Wednesday.