Equities in Canada’s largest centre pointed upward Wednesday, with metals and tech issues showing muscle.
The TSX gained 121.79 points to 25.051.68.
The Canadian dollar was down 0.06 cents at 69.55 cents U.S.
In corporate news, Calibre Mining announced fourth-quarter gold production figures. Calibre shot higher 21 cents, or 9.5%, to $2.42.
Elsewhere in gold and mining, Equinox Gold skyrocketed 76 cents, or 10%, to $8.75, while Kinross Gold climbed 73 cents, or 5.1%, to $14.95. K92 Mining jumped $1.38, or 16%, to $10.03, while Silvercrest Metals hiked 68 cents, or 4.9%, to $14.64.
Tech issues shone as well, with Celestica shares boasting a gain of $6.45, or 4.6%, to $147.42, while Constellation Software barreled ahead $162.31, or 3.9%, to $4,325,
Tilray Brands declined 12 cents, or 5.7%, to $1.99. Elsewhere in health-care, Sienna Senior Living settled 33 cents, or 2.2%, to $14.85.
In communications, Quebecor doffed 83 cents, or 2.6%, to $31.57, while Cogeco Communications docked $1.80, or 2.5%, to $69.30.
Consumer discretionary stocks were bruised, primarily Linamar, sliding $2.17, or 3.8%, to $55.04, while Magna International lost $2.06, or 3.4%, to $58.00.
ON BAYSTREET
The TSX Venture Exchange retreated 2.78 points to 610.13.
Seven of the 12 TSX subgroups were lower by the close, with health-care falling 2.4%, while communications settled 1.4%, and consumer discretionary stocks dropped 0.9%.
The five gainers were led by gold, shining 2.9% brighter, and information technology, better by 1.8%, while materials improved 1.7%.
ON WALLSTREET
The S&P 500 posted a modest gain on Wednesday as traders assessed the potential for future Federal Reserve rate cuts amid persistent inflationary pressures.
The Dow Jones Industrials moved ahead 106.84 points to 42,635.20.
The much-broader index recovered 9.22 points to 5,918.25.
The NASDAQ Composite dropped 10.8 points to 19,323.19. The three major averages are on pace for a second straight weekly loss.
Markets in the U.S. will be closed Thursday, as the nation mourns former President Jimmy Carter.
Palantir — one of the biggest gainers in the S&P 500 in 2024, rising more than 340% — was down for a third straight day, losing 2.5%. Chipmaker Advanced Micro Devices shed 4.3% after a downgrade by HSBC.
Stocks are coming off a rough trading session, as the major averages finished solidly in the red after strong economic data showed greater-than-expected expansion in the U.S. services sector, fanning concerns around stubborn inflation and this year’s trajectory of Federal Reserve rate cuts. Markets reportedly are currently pricing in a 95% chance of no reductions at the central bank’s meeting this month.
Data released Wednesday morning showed private sector job creation in December eased more than expected, while wages grew at the slowest pace since July 2021, according to payment processing firm ADP. Investors are now turning to minutes from the Fed’s December meeting are slated for release at 2 p.m. ET.
Sentiment was also dampened after reports President-elect Donald Trump is considering declaring a national economic emergency to push through new tariffs.
Prices for the 10-year Treasury gained, lowering yields to 4.68% from Tuesday’s 4.69%. Treasury prices and yields move in opposite directions.
Oil prices lost 95 cents to $73.20 U.S. a barrel.
Prices for gold moved ahead $15.10 an ounce to $2,680.50 U.S.
