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U.S. Fed decision on Wednesday

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Tilray gains on upbeat Q4 revenue

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TSX up 0.4%

(Updated at 10:15 a.m. ET)

By Shubham Batra

July 30 (Reuters) - Canada's main stock index hit a

two-week high on Tuesday, led by gains in healthcare shares,

while investors await a raft of corporate earnings and the U.S.

Federal Reserve's rate decision to gauge the outlook for global

monetary policy.

At 10:15 a.m. ET (1415 GMT), the Toronto Stock Exchange's

S&P/TSX composite index was up 89.94 points, or 0.39%,

at 22869.51.

Shares of cannabis firm Tilray Brands ( TLRY )

jumped 14.4% to over two-month highs after reporting upbeat

fourth-quarter revenue and a smaller-than-expected loss,

powering healthcare shares 3.8% higher.

All heavyweight sectors on the TSX were trading in the

green, with rate-sensitive financial shares up 0.5%.

Energy shares also advanced 0.5% despite oil

prices drifting lower.

Gold prices rose, boosting the materials sector,

as investors awaited the Fed's commentary on its monetary policy

and a deluge of U.S. economic data due later in the week for

more clues on the pace and scale of the U.S. central bank's

interest rate cuts.

All eyes will be on the Fed on Wednesday for their decision,

where markets expect the central bank to keep the interest rates

unchanged while providing commentary to set the base for a

September rate cut.

"The Fed is playing a balancing act: perfectly time rate

cuts to cultivate a soft landing without reigniting inflation

pressures," said Seema Shah, chief global strategist at

Principal Asset Management.

Wall Street peers climbed as cautious investors awaited the

day's Big Tech earnings and labor market data, hoping for clues

on the timing of interest-rate cuts in this week's U.S. policy

decision.

Shares of Filo Corp ( FLMMF ) surged 9.3% after global miner

BHP Group ( BHP ) and Canada-listed Lundin Mining ( LUNMF )

decided to jointly take over the developer for C$4.5 billion

($3.25 billion).

Bank of Montreal ( BERZ ) slid 4.0% after RBC cut its rating

on the stock to "sector perform" and also lower the target price

to C$118 from C$124.