Markets on both sides of the border ate their Wheaties Wednesday and climbed, in some cases to all-time highs.
The TSX climbed 246.48 points to close Wednesday at 31,490.85.
The Canadian dollar gained 26 cents at 72.48 cents U.S.
In corporate updates, Air Transat and its pilot union announced they had reached a tentative deal that promised higher pay and better working conditions, averting a potential strike and allowing operations to return to normal. Air Transat shares moved forward 12 cents, or 4.8%, to $2.64.
Canadian Natural Resources lost 16 cents to $46.51.
Tech stocks were the champions among winners Wednesday, with Lightspeed Commerce zooming $1.12, or 6.9%, to $17.26, while Quarterhill grabbed eight cents, or 8.7%, to one dollar.
Among financials, Definity climbed $1.95, or 2.7%, to $73.10, while Trisura Group tallied $1.20, or 3.1%, to $40.14.
In materials, Ivanhoe Mines took on 64 cents, or 4.8%, to $13.94.
Telecoms bogged down, with Rogers surrendering $1.16, or 2.3%, to $49.53, while Telus tumbled 17 cents to $18.30.
In consumer staples, North West Company fell $2.12, or 4.3%, to $47.46, while Metro lost 99 cents, or 1%, to $98.81.
Utilities dawdled with Capital Power off $3.04, or 4.6%, to $62.49, while TransAlta moved downward 29 cents, or 1.4%, to $19.96.
The Bank of Canada held its key interest rate at 2.25%. a move widely expected by economists. The market had 93.5% odds that the BoC would hold rates.
ON BAYSTREET
The TSX Venture Exchanged recovered 5.59 points to 945.87.
All but three of the 12 TSX subgroups were positive by the closing bell, on the backs of information technology stocks, up 1.6%, while financials and materials each gained 1.3%.
The three laggards were telecoms, off 1.1%, while consumer staples and utilities each slid 0.2%.
ON WALLSTREET
The Dow Jones Industrial Average surged and the S&P 500 headed for a record close on Wednesday after the Federal Reserve decided to cut interest rates once again this year as traders bet more easing was ahead next year.
The 30-stock Dow rumbled 457.98 points, or 1.1%, to end the session at 48,057.87.
The much-broader index added 46.29 points to 6,886.80.
The NASDAQ changed direction and gained 77.67 points to 23,634.16.
The Fed approved another quarter percentage point cut at the conclusion of its two-day policy meeting. The cut, which marks its third in a row, brings the federal funds rate to a range of 3.50%-3.75%.
On the flip side, the Fed forecasts only one rate cut next year, but traders bet they would go further.
AeroVironment slid $36.54, or 12%, to $255.02. on the back of a fiscal-second-quarter earnings miss. AeroVironment earned 44 cents per share, well below an LSEG estimate of 78 cents per share.
GameStop fell $1.06, or 4.8%, to $22.12, after the company posted its third-quarter results. GameStop earned an adjusted 24 cents per share on revenue of $821 million. Revenue was lighter than one analyst expecting north of $900 million.
Prices for the 10-year Treasury were up slightly, lowering yields to 4.15% from Tuesday’s 4.18%. Treasury prices and yields move in opposite directions.
Oil prices jumped 69 cents to $58.94.
Gold prices advanced $26.30 to $4,262.50.
