Thursday featured triple-digit gains across borders, as tech and industrials powered the charge in Toronto
The TSX raced higher 199.46 points, or 1.1%, to close Thursday at 18,027.57.
The Canadian dollar slipped 0.07 cents to 78.89 cents U.S.
Tech issues proved the stars of the show, with Sierra Wireless sprinting $2.22, or 11.7%, to $21.22, while Shopify vaulted $74.32, or 6.9%, to $1,470.37.
Ballard Power Systems proved a juggernaut Thursday, gaining $4.76, or 15.5%, to $35.57, while Cargojet gained altitude $11.06, or 5.3%, to $221.59.
Energy concerns also jumped, most notably, Husky Energy, up 33 cents, or 5.1%, to $6.76, while Parex Resources climbed 80 cents, or 4.2%, to $19.94.
Communications got knocked around, though, with Rogers being stung 86 cents, or 1.4%, to $60.36, while BCE faltered 65 cents, or 1.2%, to $55.14.
In the consumer staples field, North West Company slipped 58 cents, or 1.8%, to $32.23.
In gold, Yamana Gold was cuffed around 22 cents, or 2.9%, to $7.45, while B2Gold dropped 20 cents, or 2.7%, to $7.28.
On the economic beat, Western University’s IVEY School of Business’ Purchasing Managers Index for December dropped to 46.7 from November's 52.7, and down from the 51.9 figure in December 2019.
Elsewhere, Canada's exports rose in November, while imports edged down, with the country's trade deficit with the world narrowing slightly more than expected, data from Statistics Canada showed on Thursday.
ON BAYSTREET
The TSX Venture Exchange jumped 17.55 points, or 2%, to 915.07.
All but three of the 12 TSX subgroups were in the green by the close, with information technology clicking 2.4% higher, while industrials and energy each took on 1.8%.
The three laggards were communications, sliding 0.7%, while staples lost 0.4%, and gold, sliding 0.1%.
ON WALLSTREET
Stocks rose to all-time highs on Thursday as Congress confirmed the election of Joe Biden as president and traders looked past the unrest in Washington.
The Dow Jones Industrials continued its rapid rise, taking on 221.73 points, to 31,041.13.
The S&P 500 hiked 55.65 points, or 1.5%, to 3,803.79, closing at more than 3,800 for the first time.
The NASDAQ popped 326.69 points, or 2.6%, to 13,067.48, breaking above 13,000 for the first time, as shares of Microsoft and Alphabet both gained more than 2%, and Apple rose 3.4%.
Walgreens Boots Alliance rose 5.2% to lead the Dow higher on the back of stronger-than-expected quarterly results. Shares of JPMorgan Chase advanced 3.3% after the banking giant was upgraded to buy from neutral by an analyst at Bank of America. The tech and consumer discretionary sectors rose 2.7% and 1.8%, respectively, to lift the S&P 500.
On Wednesday, pro-Trump rioters stormed the U.S. Capitol just as lawmakers started the procedural process of counting the Electoral College votes and formally declaring Biden the winner. Still, the Dow and the S&P 500 closed higher on Wednesday as traders looked beyond the event amid increasing prospects for more fiscal stimulus.
Late Wednesday evening, the Capitol building was secured and Congress reconvened to continue the process to confirm Biden’s win. That affirmation came early Thursday morning with the House of Representatives and the Senate rejecting efforts to object to the acceptance of the Electoral College votes from Arizona and Pennsylvania.
On the data front, initial jobless claims came in at 787,000 for the week ending Dec. 31, the U.S. Labor Department said. Economists polled by Dow Jones expected a print of 815,000.
Prices for the 10-Year Treasury collapsed, propelling yields to 1.08% from Wednesday’s 1.03%. Treasury prices and yields move in opposite directions.
Oil prices gained 34 cents to $50.97 U.S. a barrel.
Gold prices jumped $6.30 to $1,914.90 U.S. an ounce.
