georgemiller
Publish Date: Tue, 05 Nov 2024, 11:45 AM

- TSX ends up 0.54% at 24,387.9
- Financials rise 0.79%; tech gains 0.72%
- Thomson Reuters adds 3.24% after earnings beat
- Restaurant Brands down 3.12% as results miss estimates
Nov 5 (Reuters) - Canada's main stock index rose for a third straight day on Tuesday, helped by gains for technology and financial shares, as investors awaited the outcome of the U.S. presidential election and looked ahead to a Federal Reserve interest rate decision.
The S&P/TSX composite index (.GSPTSE) , opens new tab ended up 131.84 points, or 0.54%, at 24,387.9, adding to a modest winning streak since posting on Thursday its lowest closing level in more than three weeks.
"Right now, the markets are in wait-and-see mode," said Colin Cieszynski, chief market strategist at SIA Wealth Management. "Wait and see what happens with the U.S. election, and wait and see what happens with the Fed."
The presidential contest between Republican Donald Trump and Democrat Kamala Harris hurtled toward an uncertain finish as millions of Americans headed to the polls to choose between two sharply different visions for the country.
Canada sends 75% of its exports to the United States. The nation posted a higher-than-expected trade deficit of C$1.26 billion ($908 million) in September mainly on account of lower prices.
The U.S. central bank is expected to lower its key interest rate by a quarter percentage point at a policy announcement on Thursday.
The heavily weighted financials sector (.SPTTFS) , opens new tab, dominated by big five banks, rose 0.79% and technology (.SPTTTK) , opens new tab was up 0.72%.
Industrials (.GSPTTIN) , opens new tab also notched gains, adding 0.77%, as shares of Thomson Reuters Corp (TRI.TO) , opens new tab climbed 3.24% after the company reported quarterly results ahead of analysts' expectations.
Energy (.SPTTEN) , opens new tab edged down 0.02% as the price of oil settled 0.72% higher at $75.59 a barrel.
Restaurant Brands International Inc (QSR.TO) , opens new tab was among the stocks that lost ground. Its shares fell 3.12% after the Burger King parent missed market estimates for quarterly results.
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https://www.reuters.com/markets/tsx-futures-rise-crude-prices-us-election-spotlight-2024-11-05/