TORONTO — Canada's main stock index rose nearly 140 points Tuesday, led by strength in technology stocks, while U.S. stock markets also climbed.That’s likely in anticipation of earnings reports around the corner from some of the biggest tech names, said Brianne Gardner, senior wealth manager of Velocity Investment Partners at Raymond James Ltd.
A weaker-than-expected report on U.S. business activity likely also boosted market sentiment on Tuesday, as investors are looking for any data that would support interest rate cuts. The end of the week will bring the U.S. personal consumption expenditures, or PCE, report. That’s another key piece of inflation data as the U.S. Federal Reserve weighs when to start cutting interest rates.Recent inflation data was stronger than economists expected, Gardner said, so the question is whether the next report will follow suit or show something different.