Huge Gains Wednesday for TSX


Stocks in Canada’s largest centre came screaming out of the gate Wednesday, and never turned the volume down, backed by resource and industrial stocks.

The TSX Composite Index leaped 307.73 points, or 1.4%, to conclude Wednesday at 22,350.23.

The Canadian dollar inched higher 0.07 cents to 73.42 cents U.S.

Gold and other resources paced the market Wednesday, with Aya Gold & Silver climbing 94 cents, or 7%, to $15.02, while New Gold taking on 18 cents, or 6.5%, to $3.27.

Fortuna Silver Mines also had a banner day, hiking 42 cents, or 6.2%, to $7.18, while SSR Mining bounced 35 cents, or 5.6%, to $6.64.

In industrials, Bombardier popped $6.48, or 7.5%, to $92.89, while Canadian Pacific Kansas City jumped $3.64, or 3.4%, to $110.60.

Communications laid an egg, however, with Telus faltering 23 cents, or 1.1%, to $20.82, while Rogers dumped 21 cents to $49.52.

ON BAYSTREET

The TSX Venture Exchange gained 7.69 points, or 1.3%, to 583.26.

All but one of the 12 TSX subgroups made gains Wednesday, with gold skyrocketing 2.6%, materials soaring 2.1%, and industrials leaping 1.8%.

Only communications missed the party, sagging 0.1%.

ON WALLSTREET

The S&P 500 climbed Wednesday to a fresh record, breaking above 5,600 for the first time, as a sharp rise in semiconductor stocks led the market higher.

The Dow Jones Industrials rumbled 429.13 points, or 1.1%, higher to close Wednesday at 39,721.10.

The much-broader index gained 56.89 points or 1%, to 5,633.87, reaching a fresh record high and on track for its seventh straight day of gains.

The NASDAQ climbed 218.16 points, or 1.2%, to 18,674.45, also hitting an all-time high.

Chip stocks were among the largest winners of the session. Stock in Taiwan Semiconductor added nearly 3% after revenue from April to June came in ahead of Wall Street estimates. Peer chip firms Qualcomm and Broadcom traded marginally higher, while artificial intelligence darling Nvidia climbed 2%.

Prices for the 10-year Treasury edged higher, lowering yields to 4.28% from Thursday’s 4.29%. Treasury prices and yields move in opposite directions.

Oil prices gained 94 cents at $82.35 U.S. a barrel.

Gold prices bounced $10.00 to $2,385.10



Source link

About The Author

Scroll to Top