Canada’s senior equities exchange appears to be headed for a higher open Tuesday following broad-based gains for U.S. markets on Monday.

While the Toronto Stock Exchange was closed for the civic holiday on Monday, reports on manufacturing, housing and banking sent New York markets sharply higher, pushing the S&P 500 index above 1,000 for the first time in nine months and the Nasdaq above 2,000 for the first time since early October.
U.S. stocks got a big boost on Monday from data showing that the manufacturing sector edged closer to growth.

The U.S. Institute for Supply Management reported that its index of national factory activity rose to 48.9 in July, the highest level since August 2008. While the reading was below 50, the level separating contraction from expansion, it was higher than analysts had expected.

The Dow Jones industrial average jumped 114.95 points, or 1.25%, to 9,286.56. The S&P 500 index added 15.15 points, or 1.53%, to 1002.63. The Nasdaq composite index gained 30.11 points, or 1.52%, to 2008.61.

The S&P 500 is now up 48% since hitting a 12-year closing low on March 9.

Overseas, Asian markets ended mixed on Tuesday. Japan’s Nikkei 225 Average ended up 0.2% at 10,375.01 for its highest finish since October, although the closing level was way off the day’s peak. The broader Topix index climbed 0.2%, stretching its winning streak to a 13th session.

China’s Shanghai Composite rose 0.3% to end at another 14-month high of 3,471.44, but also off the day’s peak. In Hong Kong, the Hang Seng Index ended 0.1% lower at 20,796.43, reversing early gains.

Elsewhere in the region, Australia’s S&P/ASX 200 rose 1.1%, New Zealand’s NZX 50 added 1.5% and South Korea’s Kospi advanced 0.1%, while Taiwan’s Taiex lost 1.4%. India’s Sensex lost 0.6%, while Singapore’s Straits Times shed 1.2%.

In Europe, stock markets ended lower on Tuesday as the Dow Jones Stoxx 600 index was down 0.7% at 226.82, London’s FTSE 100 index was off 0.7% at 4649.0, Frankfurt’s DAX lost 0.8% to 5380.4 and the CAC-40 Index in Paris was 0.6% lower at 3455.3.

On Friday, the TSX posted a triple-digit gain for a second straight session as the resources-heavy market got a boost from stronger commodities prices.

The S&P/TSX composite index closed ahead 110.43 points, or 1.03% to 10,787.15.

For July, the index climbed 4% — its fifth-straight monthly advance.

The junior S&P/TSX Venture composite index jumped 32.53 points, or 2.84% to 1,179.57.

IE