Canada's main stock index hit a two-week high on Thursday, supported by upbeat earnings from e-commerce firms Shopify and Lightspeed along with jet maker Bombardier, while higher commodity prices also lifted sentiment.
The TSX Composite jumped 448.23 points, or 2.4%, to head into Thursday afternoon at 19,527.20.
The Canadian dollar leaped 0.24 cents at 72.52 cents U.S.
The information technology index led sectoral gains, on upbeat earnings from Shopify and Lightspeed Commerce.
Shopify led the index, adding $14.24, or 21.1%, to $81.90 after returning to profit in the third quarter and posting quarterly revenue above market expectations.
Lightspeed advanced $2.83, or 16.4%, to $20.13, after the firm raised its annual revenue forecast.
Bombardier also reported third-quarter results that beat analysts' estimates, helped by robust demand for pricier business jets and strength in its aftermarket business. The jet maker moved higher $4.52, or 10%, to $49.63.
Meanwhile, First Quantum Minerals shares snapped a three-day losing streak to climb 89 cents, or 6% higher, to $15.67, amid uncertainty over the future of its key Panama copper mine.
ON BAYSTREET
The TSX Venture Exchange gained 2.35 points to 518.17.
All but one of the 12 TSX subgroups were positive in the first hour, with information technology up 5.9%, health-care ahead 3.7%, and real-estate, and utilities were better by 3.6%.
Only gold lost ground, off 0.6%.
ON WALLSTREET
Stocks gained Thursday as Treasury yields fell, with investors betting the Federal Reserve could be done raising rates for 2023.
The Dow Jones Industrials vaulted 365.13 points, or 1.1%, to 33,639.71. The Dow is up more than 580 points in two days.
The S&P 500 index progressed 60.54 points, or 1.4%, to 4,298.40. The S&P 500 and Dow are on track for their biggest weekly gain of the year.
The NASDAQ surged 173.46 points, or 1.3%, to 13,234.92.
The rally was broad-based, with all 11 S&P 500 sectors trading in positive territory. Gains were led by real estate, consumer discretionary and materials, each up by more than 1%.
Thursday’s gains put the S&P 500 and Dow on track for their biggest weekly gain of the year.
Tesla and Nvidia led a gain in tech shares Thursday as investors cheered the drop on rates. Apple added almost 2% ahead of its earnings report after the bell.
Prices for the 10-year Treasury jumped, lowering yields to 4.68% from Wednesday’s 4.76%. Treasury prices and yields move in opposite directions.
Oil prices regained $1.48 to $81.92 U.S. a barrel.
Gold prices recouped $1.50 to $1,989.
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