S&P/TSX composite up almost 250 points Tuesday, U.S. markets also rise

TORONTO — Gains in industrial and technology stocks led Canada's main stock index up more than one per cent on Tuesday, outweighing weakness in energy, while U.S. stock markets also rose, led by a rally on the Dow.

Markets in the U.S. were boosted by several earnings reports by major companies that were better than expected, said Currie, combined with optimism that interest rate cuts are on the way. Meanwhile in Canada, the inflation report for June saw price growth ease more than expected to 2.7 per cent, helped by lower gas prices.

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