Canada’s top stock index closed higher on Tuesday, despite being weighed down by declines in gold prices due to a stronger US dollar. These losses couldn’t overshadow gains in the overall mining sector. Meanwhile, Canada’s major banks are set to deliver another round of solid quarterly results, with the Bank of Nova Scotia, aka Scotiabank (TSX:BNS), setting a positive tone as it opened the Q1 earnings season.
In the US, markets bounced back off the ropes after a shaky start to the final trading week of February. Shares of Advanced Micro Devices (NASDAQ:AMD) rose following news that Meta (NASDAQ:META) had signed a multiyear agreement with the chipmaker. The partnership involves Meta deploying as much as six gigawatts’ worth of AMD graphics processing units to power its artificial intelligence data centres.
| TSX | 33,970.38 | +193.88 |  |
| TSXV | 1,065.30 | +14.28 | |
| CSE | 172.28 | +6.76 | |
| DJIA | 49,174.50 | +370.44 | |
| NASDAQ | 22,863.68 | +236.41 | |
| S&P 500 | 6,890.07 | +52.32 | |
The Canadian dollar traded for 72.98 cents US compared to 72.99 cents US on Monday.
US crude futures traded $0.07 higher at US$66.38 a barrel, and the Brent contract rose $0.30 to US$71.55 a barrel.
The price of gold was down US$48.13 to US$5,157.81.
In world markets, the Nikkei was up 495.39 points to ¥57,321.09, the Hang Seng was down 491.59 points to HK$26,590.32, the FTSE was down 4.15 points to ₤10,680.59, and the DAX was down 5.72 points to €24,986.25.
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