Bank earnings lift TSX

It’s the end of August and the start of Canadian bank earnings season. Out of the gate Tuesday were the Bank of Nova Scotia, jumping 6.85%, and the Bank of Montreal, up 4.68%, after investors liked their latest quarters. Financials and materials led the TSX 0.48% higher, but seven sectors including staples and health care lagged. Other notable Canadian names: CNQ -2.02%, Denison Mines 5.9% and Altagas -2.53%. Gold edged up US$24 to US$3,390 while WTI sank 2.3% to US$63.35.

On Wall Street, the major American indices lost ground early on, perhaps shaken by Trump’s firing of Federal Reserve Governor, Lisa Cook. Cook is challenging the legality of her dismissal which some regard as bullying, given that Cook voted to hold interest rates last month. However, by the closing bell, the S&P was up 0.41%, the Nasdaq 0.44% and the Dow 0.3%. Eli Lilly rallied 5.85%, Palantir 2.35%, Keurig Dr. Pepper -6.91% and eBay -3.97%. Nvidia advanced 1.09% a day before earnings. The U.S. 10-year yield held at 4.261%, though Bitcoin advanced 1.5% to $111,230.

🏛 Bank of Nova Scotia (BNS-T) +6.85%

🏛 Bank of Montreal (BMO-T) +4.68%

🛢 Canadian Natural Rsrcs (CNQ-T) -2.02%

⛏ Denison Mines Corp (DML-T) +5.09%

🛢 Altagas Ltd (ALA-T) -2.53%

💊 Eli Lilly & Co. (LLY-N) +5.85%

💾 Palantir Technologies (PLTR-Q) +2.35%

🧃 Keurig Dr Pepper (KDP-Q) -6.91%

🛍 eBay Inc (EBAY-Q) -3.97%

💾 NVIDIA Corporation (NVDA-Q) +1.09%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +1.5%