Equities in Canada’s largest centre enjoyed triple-digit gains Wednesday, as resource issues led the way.
The TSX rallied 116.03 points to observe the closing bell Wednesday at 35,485.11
The Canadian dollar regained 0.10 cents to 71.01 cents U.S.
Among gold stocks, Southern Gold Consolidation moved higher 78 cents, or 9.2%, to $9.28, while Novagold Resources acquired 79 cents, or 10%, to $8.73.
In materials, Discovery Silver grabbed 65 cents, or 7.6%, to $9.18, while GMining Ventures progressed $2.95, or 7.2%, to $44.03.
In energy stocks, Kelt Exploration jumped 45 cents, or 4.6%, to $10.14, while Vermilion Energy popped $1.16, or 8.1%, to $15.56.
Tech stocks weighed the ship down, as Lightspeed Commerce subsided 70 cents, or 4.9%, to $13.74, while Computer Modeling Group gave back 18 cents, or 4.7%, to $3.67.
In telecoms, Rogers slid $2.09, or 4.2%, to $46.52, while BCE dropped 28 cents to $30.29.
Consumer discretionary stocks also were in the red, with Aritzia falling $4.72, or 3.2%, to $141.09, and Dollarama slipping $2.61, or 1.4%, to $185.73.
ON BAYSTREET
The TSX Venture Exchange edged up 8.28 points, or 1%, to 881.35.
Eight of the 12 TSX subgroups were negative on the day, with information technology teetering lower 2.5%, while telecoms doffed 1.4%, and consumer discretionary trailing Tuesday’s close by 1.2%.
The four gainers more than made up for the negatives, with gold shining 2.8% brighter, materials up 2.2%, and energy, rumbling 1.5%.
ON WALLSTREET
The S&P 500 ended Wednesday with modest losses, pressured by a rise in oil prices, as investors looked ahead to another busy day of corporate earnings.
The Dow Jones Industrials shook off gains garnered during the day, losing 5.29 points to 52,219.35.
The much broader index gave back 10.21 points to 7,498.99.
The NASDAQ Composite plummeted 146.30 points to 25,690.90.
Earnings take center stage again on Wednesday, with reports due from ServiceNow, International Business Machines, Tesla, Texas Instruments and Alphabet.
Shares of Super Micro Computer jumped 21% on the heels of the server maker forecasting higher margins than expected for the fiscal fourth quarter, with the company saying that it received more than $60 billion in new orders in the period.
AT&T shares also saw gains, rising 2% following the telecommunications company’s better-than-expected earnings for the second quarter.
Conversely, shares of GE Vernova dropped 8% after the company’s second-quarter earnings missed expectations.
Investors will be watching closely for updates on AI spending, cloud demand, corporate technology budgets and the outlook for the second half of the year.
Prices for the 10-year Treasury backpedaled, raising yields to 4.66% from Tuesday’s 4.63%. Treasury prices and yields move in opposite directions.
Oil prices gained $2.22 to $86.56 U.S. a barrel.
Gold prices acquired $60.80 to $4,137.2.70 U.S. an ounce.
