TSX ends up 0.7% at 33,256.83
Eclipses January 28 record closing high
Industrials rise 1% as railroad shares climb
Materials group advances 0.9%
(Updates at market close)
By Utkarsh Hathi and Fergal Smith
Feb 10 (Reuters) - Canada’s main stock index rose to a record high on Tuesday, with industrial and metal mining shares among the biggest gainers as investors weighed whether a recent rotation out of technology shares would continue.
The S&amp;P/TSX composite index (.GSPTSE) ended up 233.51 points, or 0.7%, at 33,256.83, eclipsing the record closing high it posted on January 28.
U.S. markets were mixed, with the benchmark S&amp;P 500 ending lower after the release of disappointing U.S. retail sales figures. Investors have worried in recent weeks about the amount of money technology companies say they must spend to support the artificial-intelligence boom.
“Whether this rotation continues out of tech into other sectors or do we go back to tech companies depends on this week’s macro data,” said Michael Dehal, a senior portfolio manager at Dehal Investment Partners at Raymond James.
“It would be a big catalyst for how the markets kind of play out for the next couple of weeks.”
The delayed but closely watched U.S. nonfarm payrolls report is due on Wednesday.
Investors also weighed increased tensions between the United States and Canada over a new bridge opening.
President Donald Trump spoke to Canadian Prime Minister Mark Carney on Tuesday and made clear his position that it’s “unacceptable” that Canada will “control” what crosses a new bridge connecting Detroit and Windsor, Ontario White House spokeswoman Karoline Leavitt told reporters.
Gains for railroad shares helped lift the industrials sector (.GSPTTIN) by 1%. The materials group, which includes metal mining shares, was up 0.9% even as gold (XAU=) gave back some recent gains.
Heavily weighted financials (.SPTTFS) added 0.6%, while utilities (.GSPTTUT) were up 0.5% as bond yields fell.
Shares of e-commerce company Shopify Inc (SHOP.TO) jumped 7.4%. Still, the technology index ended 0.2% lower.
Consumer staples (.GSPTTCS) also lost ground, falling 0.7%.

SHPU

SHOP

COST

Reuters

Direxion Daily SHOP Bull 2X ETF

Shopify 

Target

Costco Wholesale

Kroger

CANADA STOCKS-TSX climbs to record high, led by industrial shares