From The Globe and Mail.:

The Toronto stock index edged up on Tuesday driven by energy and materials stocks. Gold prices hit a record high, boosting materials stocks. Energy shares also gained after gas companies reported strong fourth-quarter results. Investors are cautious ahead of the Bank of Canada’s interest rate decision and US economic data.
On Wall Street, megacap growth stocks weighed on Nasdaq as investors assessed economic data. US services industry growth slowed in February, but new orders increased. Traders see a 67.2% chance of a rate cut in June. AI-driven rally slowed amid focus on Fed’s policy path. Apple and Tesla stocks declined.
Target saw an 11.7% jump after forecasting strong annual sales. Microstrategy dropped 6.8% due to a private offering for $600 million in convertible notes for Bitcoin. The S&P index hit new highs while the Nasdaq saw new lows. Rate-sensitive sectors led the losses. Nonfarm payrolls report awaited.
Dow Jones fell, S&P 500 declined, and Nasdaq dropped as investors awaited Powell’s testimony. Fed rate cuts may be coming, affecting tech stocks. Employment data and Fed’s path in focus. Traders assess economic reports and currency movements. Central banks cautious on rate cuts despite inflation.



Read more at The Globe and Mail.: At midday: TSX gains on commodities boost; BoC decision, U.S. economic data in focus