Canada's main stock index opened subdued on Wednesday as investors focused on trade developments after a strong start to the week, influenced by soft U.S. inflation and Washington's trade truce with China.
The TSX Composite Index deleted 41.77 points to begin the mid-week session at 25,575.09
The Canadian dollar subtracted 0.13 cents at 71.64 cents U.S.
ON BAYSTREET
The TSX Venture Exchange dipped 2.5 points to 663.32.
Eight of the 12 subgroups were in the red, weighed most by gold, sinking 2.2%, materials, down 1.5%, and utilities, fading 1%.
The four gainers were led by industrials, ahead 0.5%, information technology, better by 0.3%, and financials, improving but 0.2%.
ON WALLSTREET
Stocks were higher Wednesday as Wall Street looked to extend a strong start to the week that pushed the benchmark S&P 500 into the green for the year.
The Dow Jones Industrials recovered 81.61 points to begin Wednesday at 42,222.04.
The much-broader index inched up 2.31 points to 5,888.86
The NASDAQ Composite gained 72.85 points to 19,082.84
Technology stocks continued to lead the rebound on Wednesday. Shares of Nvidia advanced more than 2%, following news that it would send Saudi Arabia 18,000 of its top artificial intelligence chips. Peer chip stock AMD also rose more than 7% on the back of a $6-billion buyback.
Week to date, the S&P 500 has improved 4% and the Dow is up more than 2%. The NASDAQ has soared more than 6%.
This week’s pop also put the S&P 500 in positive territory for the year. At one point, the broader index was more than 20% below its record high set in February. Since hitting that April 7 intraday low, the benchmark is up more than 21%.
Prices for the 10-year Treasury were unchanged, keeping yields at Tuesday’s 4.49%.
Oil prices fell off 21 cents to $63.46 U.S. a barrel.
Prices for gold tailed off $57.20 to $3,190.60 U.S.
