​TSX positive as retail sales and corporate profits rise; US data exceeds expectations

​TSX positive as retail sales and corporate profits rise; US data exceeds expectations

​TSX positive as retail sales and corporate profits rise; US data exceeds expectations Positive economic data from both sides of the border kept the Toronto Stock Exchange buoyant Tuesday. Canadian retails sales were 0.8 per cent higher in September according to data from StatsCan; that amounts to $42.8 billion. The auto industry was the big driver of sales with growth of 3.4 per cent. StatsCan also released data on the operating profits of corporations, with a 3.7 per cent rise in Q3. Meanwhile the OECD predicted a spring interest rate rise and inflation edging back to the BoC’s 2 per cent target. In the US figures showed that GDP was higher than previously thought. Together with some higher sentiment in Europe and some good data from Asia it was a largely positive day on Bay Street.

The S&P TSX Composite Index closed up 57.42 (0.38 per cent)

The NYSE closed mixed.

Gold is edging higher; oil is slightly lower.

The loonie is down slightly against the US dollar after earlier gains.