Stocks in Canada’s largest market climbed sharply Thursday, as consumer stocks led the way off the launch pad.
The TSX Composite Index regained 645.94 points, or 1.9%, to close Thursday at 33,964.33.
The Canadian dollar recovered 0.47 cents at 73.62 cents U.S.
On the earnings front, Bombardier jumped $48.59, or 20.4%. to the top of the main index at $288.40, after the business jet maker beat estimates for first-quarter profit, helped by robust demand for its repair and maintenance services.
Bausch Health shot ?up 12 cents, or 1.7%, to $7.79, after the pharmaceutical firm's first-quarter results beat estimates.
Among other movers, Allied Properties REIT fell 26 cents, or 2.6%, to $9.84 after the urban workspace landlord's first-quarter rental revenue fell on non renewals.
Consumer discretionary stocks also enjoyed their day, particularly Gildan Activewear, striding $7.33, or 9.5%, to $84.30, while Linamar, up $6.95, or 8.3%, to $90.89.
In health-care, Curaleaf zoomed 29 cents, or 6.5% to $4.77, while Chartwell Retirement Residences gathered 37 cents, or 1.8%, to $21.54.
In consumer staples, Alimentation Couche-Tard rocketed $4.55, or 6%, to $80.36, while Premium Brands International picked up $1.83, or 2.2%, to $85.25.
On the economic slate, Statistics Canada reported the number of employees receiving pay and benefits from their employer—measured as "payroll employment" in the Survey of Employment, Payrolls and Hours—decreased by 60,200 (-0.3%) in February, following an increase of 44,300 (+0.2%) in January. On a year-over-year basis, payroll employment was virtually unchanged in February.
As well, February gross domestic product rose 0.2% in February, up for a fourth consecutive month.
ON BAYSTREET
The TSX Venture Exchange rebounded 12.35 points, or 1.3%, to 994.87.
All 12 TSX subgroups gained on the day, led by consumer discretionary stocks, improving 3.2%, health-care, picking up 2.4%, and consumer staples, up 2.3%.
ON WALLSTREET
Stocks rose on Thursday, with the S&P 500 reaching a fresh all-time intraday, as investors reacted to upbeat earnings from Caterpillar and Alphabet and moved past fears of a potential escalation between the U.S. and Iran.
The Dow Jones Industrials index zoomed 790.02 points, or 1.6%, to 49,661.83.
The much broader revived 73.05 points, or 1%, to 7,208.99.
The tech-driven NASDAQ powered ahead 219.07 points to 24,902.31.
Caterpillar shares popped 10% on Thursday after the company better-than-expected quarterly figures, boosting the Dow. The industrial name, which is viewed as a bellwether for the global economy, also upped its annual revenue outlook.
Conversely, Meta and Microsoft lost 7% and 4%, respectively. Meta shares were weighed down by the company’s latest capex, while user growth disappointed. The company also raised its capex spending for the year. That was a similar point of concern for Microsoft, as shares were under pressure after the company said spending will reach $190 billion due to high memory costs
The report offers a glimmer of hope for the U.S. economy, which saw disappointing growth in the first quarter. On Thursday, the Commerce Department reported that gross domestic product rose at a 2% annualized pace in the period. While that was an increase from 0.5% in the fourth quarter of 2025, it was below the 2.2% estimate.
Even with the latest pressure in tech, a jump in those stocks has placed the three major averages on pace to round out a strong month. The S&P 500 has risen more than 9% month to date, putting the index on pace for its best month since November 2020.
The NASDAQ is heading for a 13% jump, tracking for its best month since April 2020. The Dow is set to end April with a more than 6% gain — its strongest monthly performance since November 2024.
Oil prices reversed course Thursday, with Brent crude futures losing 2% to trade above $114 a barrel and West Texas Intermediate futures falling 0.5% to trade above $106.
Crude prices rose Wednesday as overseas tensions remained high between the U.S. and Iran. The Wall Street Journal, citing U.S. officials, reported that President Donald Trump told his aides to prepare for an extended blockade of Iran.
Prices for the 10-year Treasury gained ground, lowering yields to 4.39% from Wednesday’s 4.41%. Treasury prices and yields move in opposite directions.
Oil prices retreated $1.76 to $105.12 U.S. a barrel.
Gold prices pointed higher $68.20 to $4,629.70 U.S. an ounce.
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