The TSX leaped 190.83 points to close Thursday at 31,440.85.
The Canadian dollar poked up 0.12 cents to 72.56 cents U.S.
Cannabis stocks will be in focus as U.S. President Donald Trump is expected to address the potential loosening of federal regulations on marijuana later in the day.
Toronto-listed shares of Canopy Growth collapsed 32 cents, or 12.1%, to $2.33 and Tilray Brands slumped 78 cents, or 4.4%, to $17.05.
Orla Mining climbed 55 cents, or 2.9%, to $19.38, after the miner confirmed high-grade gold mineralization extended beyond its current underground operations at Musselwhite Mine.
Real-estate proved the heavyweight among gaining groups, FirstService catapulted $5.52, or 2.6%, to $217.57, while Colliers International sprang up $4.29, or 2.2%, to $202.02.
Consumer staples also proved strong, with Premium Brands in the green $2.06, or 2.1%, to $101.50, while Alimentation Couche-Tard barreled ahead $1.76, or 2.4%, to $74.25.
In financials, EQB sprinted $2.75, or 2.8%, to $101.15, while Sprott Inc. climbed $2.74, or 2.2%, to $130.08.
Energy proved less than energetic, however, Enerflex sinking 91 cents, or 4.2%, to $20.68, while Vermilion Energy dumped 38 cents, or 3.4%, to $10.98.
In telecoms, Rogers slid 79 cents, or 1.5%, to $50.51, while BCE dipped 43 cents, or 1.4%, to $31.49.
On the economic scene, Statistics Canada said 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 21,200 (+0.1%) in October, largely offsetting a decline of 24,300 (-0.1%) in September.
On a year-over-year basis, payroll employment was up 68,300 (+0.4%) in October.
ON BAYSTREET
The TSX Venture Exchanged prospered 9.62 points, or 1%, to 942.08.
All but three of the 12 TSX subgroups were positive, real-estate each surging 1.4%, while consumer staples and financials each jumped 1.2%.
The three laggards were health-care, bruised 7.8%, energy, fizzling 1.4%, and telecoms, off 0.7%.
ON WALLSTREET
The S&P 500 snapped a four-day slide on Thursday, boosted by lighter-than-expected inflation data that brightened the outlook for lower interest rates in 2026 and blowout guidance from chipmaker Micron Technology
The Dow Jones Industrials came down from their peaks of the morning, but remained positive 65.88 points by the end of the day, to 47,951.85.
The much-broader index recovered 53.33 points to 6,774.76.
The NASDAQ popped 313.04 points, or 1.4%, to 23,006.36.
During Thursday’s session, Micron was a standout winner, jumping 11% after the semiconductor play topped Wall Street estimates on the top and bottom lines for the fiscal first quarter and offered a strong revenue forecast for the current period.
Micron helped rekindle the artificial intelligence trade, which has seen weakness in recent sessions.
The delayed November consumer price index report — the first one issued to the public after the U.S. government shutdown ended last month — showed that the headline annual inflation rate was 2.7%, according to the Bureau of Labor Statistics.
The 12-month rate for core CPI, which excludes food and energy, was 2.6%. Economists polled by Dow Jones had expected the rate for the headline measure and core CPI to come in at 3.1% and 3%, respectively.
The report, which didn’t include month-over-month percent changes, was pushed back from its original release date of Dec. 10. The BLS had canceled the release of the October inflation report in late November as a result of the longest-ever U.S. government shutdown, meaning that Thursday’s reading did not have all the usual data points of a standard CPI report.
Prices for the 10-year Treasury gained ground, lowering yields to 4.12% from Wednesday’s 4.16%. Treasury prices and yields move in opposite directions.
Oil prices eked ahead seven cents to $56.01.
Gold prices declined $9.90 to $4,364.60.
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