Canada's main stock index were unchanged by the open on Thursday, even as investors cheered a U.S. federal court's ruling to block President Donald Trump's April 2 tariffs.
The TSX Composite Index lost 6.41 points from Wednesday’s all-time record, to begin Thursday at 26,277.04.
The Canadian dollar restored 0.24 cents to 72.43 cents U.S.
The Court of International Trade on Wednesday found Trump had overstepped his authority by imposing duties on trading partners.
The Canadian Imperial Bank of Commerce reported a rise in second-quarter profit, led by its capital markets business. CIBC began the session up 17 cents to $94.16.
Royal Bank of Canada posted a jump in second-quarter profit, as the country's biggest bank benefited from the acquisition of HSBC's domestic business and the performance of its wealth management business. Shares in Canada’s biggest bank doffed $5.55, or 3.1%, to $173.05.
On the economic front, Statistics Canada said 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 54,100 (-0.3%) in March, following a decline of 40,200 (-0.2%) in February.
ON BAYSTREET
The TSX Venture Exchange let go of 0.62 points to open Thursday at 701.78.
Eight of the 12 TSX subgroups were higher, as
real-estate added 0.8%, while information technology and telecoms each jumped 0.3%.
The four laggards were weighed most by financials, down 0.5%, while gold dipped 0.2%, and consumer staples lost 0.1%.
ON WALLSTREET
The S&P 500 ticked higher on Thursday as Nvidia shares staged a post-earnings rally. But gains were restricted as investors wondered what would come next after a federal court knocked down President Donald Trump’s “reciprocal” tariffs.
The Dow Jones Industrials hesitated 14.09 points to open Thursday at 42,085.21, weighed down by a slide of more than 7% in Salesforce following earnings.
The U.S. Court of International Trade ruled on Wednesday night that Trump overstepped his authority when he imposed his “reciprocal” tariffs. The court ordered that the challenged tariff orders be vacated.
The much-broader index inched up 12 points to 5,900.55
The NASDAQ Composite recovered 67.12 points to 19,168.06.
Stocks are coming off a lackluster session Wednesday, but the major U.S. indexes are on track to close the week — and month — higher.
The S&P 500 gained 1.7% and 30-stock Dow is up 1.2% this week, while the tech-heavy NASDAQ has rallied more than 2%.
This month, the S&P 500 has gained 6%. The Dow has added 3.5%, while the NASDAQ has jumped close to 10%.
Nvidia shares jumped more than 5%. The chipmaker exceeded expectations on the top and bottom lines in the first quarter, as its data center business recorded year-over-year growth of 73%.
Prices for the 10-year Treasury were static first thing Thursday, keeping yields at Wednesday’s 4.44%.
Oil prices slid $1.09 to $60.75 U.S. a barrel.
Prices for gold resurged $20.60 to $3,315.50.
