Canadian Stocks Rise Again; TSX Hits Two-week High

(RTTNews) - The Canadian market is up firmly in positive territory on Tuesday, supported by strong gains in healthcare, technology and materials sectors.

Several stocks from utilities, industrials, consumer discretionary and consumer staples sectors are also up with notable gains.

Oil prices dropped for a fifth straight session, easing concerns about inflation. Reports about Iran offering to reopen the Strait of Hormuz within a week if U.S. takes steps to drop military action resulted in oil's slide.

Meanwhile, in his speech to the United Nations today, U.S. President Donald Trump said he has to decide whether to make a deal with Iran or "annihilate" the country.

"While others have spoken of peace, I have made peace. While others have ignored threats, I have confronted them," Trump said at the UN General Assembly in New York.

Amidst the ongoing tensions, investors look ahead to a potential meeting between Iranian President Pezeshkian and U.S. President Donald Trump.

The benchmark S&P/TSX Composite Index, which climbed to 36,304.82 earlier in the session, was up 200.14 points or 0.56% at 36,209.54 about a quarter past noon.

Hammond Power Solutions soared nearly 9%. Shopify surged 8.5% after saying that it was "partnering deeply" with Meta Platforms' Muse artificial intelligence agent.

Curaleaf Holdings, 5N Plus, Ero Copper, Elodrado Gold Corporation, DPM Metals, Finning International, Toromont Industries, Hut 8 Corp., Aecon Group and Wajax Corporation are up 4%-8%.

Badger Infrastructure, SSR Mining, Wesdome Gold Mines, Torex Gold Resources, Aya Gold & Silver, AtkinsRealis, First Quantum Minerals, Celestica, Russel Metals, Bird Construction and OR Royalties Inc. are among the several other impressive gainers.

Enghouse Systems, Great-West Lifeco, Open Text Corporation, goeasy, IGM Financial, Rogers Communications, Descartes Systems Group, Bank of Montreal, Constellation Software, Power Corporation of Canada, Canadian Imperial Bank of Commerce, Royal Bank of Canada and Sun Life Financial are down 1%-3%.