Real estate leads TSX to fresh highs

Tuesday was a banner day on Bay Street as REITs led the TSX 0.7% higher to a record close of 26,269. InterRent REIT was bought out, sending its shares soaring 14.75% and lifting fellow REITS, Killam by 7.46% and Canadian Apartment (aka CAP REIT) 5.3%. Elsewhere, BlackBerry rallied 8.33% and the Bank of Nova Scotia rose 1.63% after reporting. Only materials sagged on the TSX while staples and healthcare joined real estate’s strong gains. In commodities, WTI sank 0.7% to US$62.69 while gold slipped US$39 to US$3,304. Bitcoin added US$285 to US$109,905.

Because American markets were closed for a holiday on Monday, the effect of Trump delaying 50% tariffs on the E.U. last weekend didn’t reach Wall Street until today. The S&P jumped 2.05%, the Nasdaq 2.47% and the Dow 1.78%. Excitement over Nvidia‘s earnings (to be reported after Wednesday’s close) pushed shares up 3.21% in heavy trading, while Tesla rallied 6.94%, Apple 2.53% and Deckers 7.83%, though Fair Isaac slumped 11.26%. The U.S. 10-year yield slightly lost ground to 4.448%.

🏛 InterRent REIT (IIP.UN-T) +14.75%

🏛 Killam Properties Inc (KMP.UN-T) +7.46%

🏛 Canadian Apartment Properties (CAR.UN-T) +5.3%

📱 BlackBerry (BB-T) +8.33%

🏛 Bank of Nova Scotia (BNS-T) +1.63%

💾 NVIDIA Corporation (NVDA-Q) +3.21%

🚗 Tesla Inc (TSLA-Q) +6.94%

🍎 Apple Inc (AAPL-Q) +2.53%

🛍 Deckers Outdoor Corp. (DECK-N) +7.83%

💾 Fair Isaac Corp. (FICO-N) -11.26%