Canada's main stock index opened higher on Thursday as mining and energy shares rose, while investors parsed through key U.S. labour market data.
The TSX Composite Index tacked on 78.3 points to commence trading on Wednesday at 23,119.06.
The Canadian dollar let go of 0.03 cents at 74.02 cents U.S.
In corporate news, Brookfield Asset Management-supported India's Data Infrastructure Trust raised $941 million via rupee bonds to fund the purchase of American Tower Corp's (ATC) local assets. BAM shares gained 57 cents, or 1%, to $55.22.
ON BAYSTREET
The TSX Venture Exchange fell 2.68 points to 552.49.
Eight of the 12 TSX subgroups gained, with gold shining 1.7% brighter, materials stronger 1.6%, and utilities up 0.9%.
The four laggards were weighed most by consumer discretionary stocks, down 0.5%, industrials, off 0.2%, and energy, 0.1% less energetic.
ON WALLSTREET
The NASDAQ Composite rose Thursday, following back-to-back losing sessions, as investors snatched up beaten-down technology stocks ahead of Friday’s keynote labor report.
The Dow Jones Industrial index sagged 55.15 points, to answer Thursday’s opening bell at 4o,919.82.
The S&P 500 moved forward 10.23 points to 5,530.30.
The NASDAQ jumped 130.12 points to 17,214.42.
Popular mega-cap and chip stocks led the charge, with Nvidia last up 3%. Meta Platforms, Alphabet and Apple rose about 1% each. Amazon gained 3%, while Intel edged up 2%.
Fresh labour market data Thursday sent mixed signals about the health of the U.S. economy as questions linger over whether the Federal Reserve is behind the curve on rate cuts. Private payrolls data showed the weakest growth since 2021, heightening fears of a slowing labor market. However, weekly claims for unemployment benefits declined from the previous week.
Tesla popped 6% after the electric vehicle maker said it plans to launch its full self-driving software in Europe and China early next year.
Frontier Communications dropped 8% after Verizon said it would buy the company in a $20-billion deal valuing it below Wednesday’s close. Verizon added 0.3%.
Prices for the 10-year Treasury advanced, lowering yields to 3.74% from Wednesday’s 3.76%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.11 to $70.31 U.S. a barrel.
Gold prices were higher $15.10 to $2,541.10.
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