TSX Back in Plus Territory

Organigram, Centerra in Focus

Stocks recovered partially Wednesday from the drubbing of the past two days, led by advances in health and resource sectors.

The TSX gained 102.47 points to conclude Wednesday at 19,143.25.

The Canadian dollar rocketed 0.73 cents to 80.02 cents U.S.

Among the chief gainers was Organigram Holdings, moving ahead 22 cents, or 7.5%, to $3.16, while Aurora Cannabis added 54 cents, or 5.6%, to $10.16.

In gold, Centerra Gold improved 39 cents, or 3.3%, to $12.08, while New Gold prospered six cents, or 2.7%, to $2.27.

In other resource stocks, Endeavour Silver gained 37 cents, or 5.5%, to $7.16, while Fortuna Silver Mines brightened 38 cents, or 4%, to $9.94.

Consumer staples weighed the index down, however, with Metro collapsing $1.06, or 1.8%, to $58.25, while Empire Company subtracted 31 cents to $40.27.

In industrials, Boyd Group let go of $5.80, or 2.5%, to $224.20, while Aecon Group ditched 24 cents, or 1.2%, to $19.40.

Communications suffered, too, with Corus Entertainment losing eight cents, or 1.3%, to $5.96, with Shaw Communications dipping 14 cents, to $34.80.

In the economic docket, Statistics Canada says March’s Gross Domestic Product rose 2.2% on a year-over-year basis, up from a 1.1% gain in February. On a seasonally adjusted monthly basis, the CPI rose 0.1% in March.

Also, the Bank of Canada today held its target for the overnight rate at the effective lower bound of 0.25%, with the Bank Rate at 0.5% and the deposit rate at 0.25%

ON BAYSTREET

The TSX Venture Exchange sprang back up again 14.15 points, or 1.6%, to 928.91.

All but three of the 12 TSX subgroups were positive by Wednesday’s close, as health-care shot up 3.5%, gold prospered 1.2%, and materials jumped 1%.

The three laggards were consumer staples, down 0.3%, while industrials and communications each gave back 0.1%.

ON WALLSTREET

U.S. stocks rose on Wednesday to recover from two straight days of losses as investors piled into shares most sensitive to the economic recovery.

The Dow Jones Industrials restocked 316.01 points to close Wednesday at 34,137.31

The S&P 500 regained 38.48 points to 4,173.42.

The NASDAQ Composite popped 163.95 points to 13,950.22.

Shares of Norwegian Cruise Line Holdings led a pop in reopening plays after Goldman Sachs upgraded the stock. Norwegian jumped more than 10%, while Carnival picked 6.3%, and Royal Caribbean rose 4.4%.

United Airlines rebounded 3% after plunging 8.5% on Tuesday as the carrier reported its fifth consecutive quarterly loss and said that business and international travel is still far from a recovery.

Netflix shares plunged over 7% after the streaming giant reported subscriber additions that fell far short of Wall Street estimates as the demand surge from the pandemic started to fade. The company also said it only expects to add about one million subscribers in the current quarter, well below estimates.

More than 70 S&P 500 companies have reported so far, and they posted a 23% upside to analysts’ earnings expectations on average.

The State Department said it would increase "do-not-travel" advisories to 80% of the world’s countries, adding that the pandemic presents an "unprecedented risk to travelers."

Prices for 10-Year Treasurys gained ground, lowering yields to Tuesday’s 1.56%. Treasury prices and yields move in opposite directions.

Oil prices doffed $1.63 to $61.04 U.S. a barrel.

Gold prices zoomed $16.30 to $1,794.70 U.S. an ounce.