Equities in Canada’s largest market returned to positive territory Thursday, powered largely by tech issues.
The TSX fought its way out of the red, gaining 20.6 points by the finish to 36,834.25
The Canadian dollar poked up 0.11 cents to 72.19 cents U.S.
Investors assessed quarterly bank earnings from Canadian Imperial Bank of Commerce and Royal Bank of Canada, alongside the ongoing geopolitical uncertainty.
CIBC shares slid $4.66, or 2.8%, to $159.16, while those for RBC lost $4.64, or 1.6%, to $283.47.
Information technology shares were lifted by a jump of $1.17, or 10.8%, in BlackBerry to $11.97.
Elsewhere in the tech sector, Firan Technology picking up 82 cents, or 4.1%, to $20.99.
In materials, Trekor Metals improved 55 cents, or 4.3%, to $13.37, while Pan American Silver jumped $2.96, or 4.1%, to $76.01.
In gold stocks, Aya Gold & Silver grabbed $2.26, or 5.9%, to $40.73, while USA Gold picked up 26 cents, or 3.4%, to $7.96.
Health-care stocks weighed things down, as Bausch Health Companies ditched 22 cents, or 2.4%, to $8.81, while Curaleaf lost 27 cents, or 2.1%, to $12.89.
In consumer staples, Loblaw Companies let go of 82 cents, 1.3%, to $60.63, while Empire Company descended 57 cents, or 1.2%, to $48.24.
In utilities, ATCO fell $1.78, or 2.3%, to $74.16, while Hydro One sagged 81 cents, or 1.5%, to $52.74.
On the geopolitical front, Qatar's prime minister will visit Tehran on Thursday to pursue mediation efforts after the U.S. and Iran traded recriminations over Washington's promise to increase economic pressure on Iran by targeting its trade partners for sanctions.
On the economic front, 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—was little changed (+4,800; +0.0%) in June, following an increase of 45,000 (+0.2%) in May. On a year-on-year basis, payroll employment was up by 155,000 (+0.8%) in June.
ON BAYSTREET
The TSX Venture Exchange eked higher 1.32 points to 1,004.09.
Eight of the 12 TSX subgroups were lower Thursday, however, weighed most by health-care, sliding 1.8%, while consumer staples and utilities, down 0.9% each.
The four gainers were led by information technology, sprinting 2.8%, materials, up 2.8%, and gold, up 0.6%.
ON WALLSTREET
The NASDAQ Composite was higher on Thursday as the latest earnings reports from Nvidia and other well-known technology companies boosted sentiment.
The Dow Jones Industrials gained 105.56 points to 53,569.44.
The S&P 500 recovered 55.28 points to 7,730.99.
The NASDAQ Composite rocketed 411.16 points, or 1.6%, to 26,541.35.
Nvidia shares jumped 8.7% after it beat analyst expectations and forecast strong revenue growth.
Notably, the chipmaker is projected to see revenue growth hit 70% in fiscal 2028, far higher than the 44% that analysts expected. Its revenue for the fiscal second quarter more than doubled.
Shares linked to the semiconductor industry rallied, with Broadcom adding 4.5%, and SK Hynix up 2% and Intel ahead 4%.
Within cybersecurity, Okta soared almost 29% and CrowdStrike gained 20% after surpassing analyst expectations and raising their outlooks as the companies see booming demand due to agentic AI. Other cyber stocks such as Palo Alto Networks rose alongside them. That stock popped about 13%.
Traders are readying for the Federal Reserve’s annual symposium in Jackson Hole, Wyoming, where Fed Chairman Kevin Warsh is slated to deliver a keynote speech Friday.
Prices for the 10-year Treasury were lower, raising yields to 4.67% from Wednesday’s 4.63%. Treasury prices and yields move in opposite directions.
Oil prices took on $1.41 to $83.64 U.S. a barrel.
Gold prices revived $5.60 to $4,658.90 U.S. an ounce.
