Canada's resource-heavy benchmark stock index opened higher on Thursday, as strong earnings from energy and mining companies lifted sentiment, while lingering Middle East tensions supported gold prices.
The TSX revived 166.53 points to kick off Thursday at 35,500.31.
The Canadian dollar was unchanged at 71.19 cents U.S.
Vermilion Energy and Kinross Gold posted higher second-quarter profits amid a flurry of earnings releases from energy and mining companies late Wednesday.
Vermilion shares moved ahead 31 cents, or 2%, to $15.58, while those for Kinross backed off a dime at $32.61.
Investors now await quarterly earnings reports from Eldorado Gold and Baytex Energy, among others, due after the bell.
Prime Minister Mark Carney on Wednesday played down the idea of curbing oil supplies to the United States to gain leverage in a trade war, saying that would harm Canada's reputation.
On the economic front, Statistics Canada reports the number of employees receiving pay and benefits from their employer—measured as "payroll employment" in the Survey of Employment, Payrolls and Hours—increased by 24,100 (+0.1%) in May, following an increase of 59,000 (+0.3%) in April and little change in March.
On a year-over-year basis, payroll employment was up by 112,500 (+0.6%) in May.
ON BAYSTREET
The TSX Venture Exchange recovered 9.14 points, or 1.1% to 867.70.
All but two of the 12 TSX subgroups were negative soon after the opening bell, with financials skidding 2.9%, health-care down 1.5%, and industrials, off 1%.
The two gainers were energy, up 3.2%, while telecoms improved 1.2%.
ON WALLSTREET
U.S. stocks rose Thursday, rebounding from the prior day’s selloff when the Federal Reserve decided to hold rates steady. Microsoft and semiconductors helped drive those gains.
The Dow Jones Industrials restored 301.17 points of what it lost Wednesday to 51,895.31.
The S&P 500 regained 65.17 points to 7,381.32.
The NASDAQ Composite surged 389.17 points, or 1.6% to 24,832.12.
Microsoft jumped 11% amid growth from its Azure business.
In contrast, Meta Platforms was down 9% after issuing a soft revenue forecast and a 91% drop in second-quarter free cash flow.
One of the busiest weeks of corporate earnings continues Thursday, with Amazon, Apple and Coinbase set to report after the close.
Wall Street is coming off a dismal session. On Wednesday, the Dow plunged more than 1,100 points, marking the blue chip index’s worst decline since April 2025. The NASDAQ fell into correction territory.
The latest economic data released Thursday showed U.S. growth slowing to a 1.5% in the second quarter, according to Bureau of Labor Statistics. That missed the Dow Jones consensus estimate of 1.8%.
Inflation remained above the Fed’s target. The latest personal consumption expenditures price index falling a seasonally adjusted 0.1% for the month, and 3.7% for the year, in line with the Dow Jones consensus estimate.
But core PCE, which excludes food and energy, showed a monthly increase of 0.1% and an annual level of 3.3%. Economists were anticipating respective forecasts for 0.2% and 3.3%.
Prices for the 10-year Treasury improved, lowering yields to 4.66% from Wednesday’s 4.68%. Treasury prices and yields move in opposite directions.
Oil prices slipped $1.16 to $83.30 U.S. a barrel.
Gold prices shone brighter $35.90 to $4,072.20 U.S. an ounce.
