Canadian Stocks See Further Upside Amid Strength On Wall Street

(RTTNews) - After ending the previous session notably higher, Canadian stocks showed another strong move to the upside during trading on Tuesday.

The benchmark S&P/TSX Composite Index gave back some ground after an early spike but still closed up 177.16 points or 1.0 percent at 18,798.18.

Canadian stocks followed their U.S. peers higher, with stocks on Wall Street benefiting from upbeat earnings news from big-name companies like Goldman Sachs (GS) and Johnson & Johnson (JNJ).

Industrial stocks turned in some of the market's best performances on the day, driving the S&P/TSX Capped Industrial Index up by 1.8 percent.

Technology, utilities and consumer discretionary stocks also saw considerable strength, while energy stocks bucked the uptrend amid a steep drop by the price of crude oil.