Another day, another record close for markets all over North America Wednesday. Nor did Canada miss the party, largely on the strength of health-care and telecom stocks
The S&P/TSX Composite grew 58.92 points to close Wednesday at 15,844.95
The Canadian dollar pulled ahead 0.06 of 76.5 cents U.S.
Health-care stocks were the mightiest of the bunch, as Valeant Pharmaceuticals climbed $1.16, or 5.6%, to $22.02, while Canopy Growth Corporation moved forward 15 cents, or 1.3%, to $12.10.
Telecoms were also making themselves seen and heard, as BCE Inc. rocketed 65 cents, or 1.1%, to $58.65, while Rogers Communications gained 47 cents to $56.53.
Tech stocks also finished in the green, with BlackBerry poking up nine cents to $9.68, and Constellation Software gaining $3.30 to $593.50.
Materials took the biggest pasting among losing subgroups, with Cameco Corporation toppling 63 cents, or 3.9%, to $15.51, and Agrium Inc. fading $2.54, or 1.8%, to $137.56. Teck Resources took a major bruising, $3.35, or 10.3%, to $29.32.
Gold stocks dulled in price, as IAMGOLD Corporation dipped 10 cents, or 1.6%, to $6.11, and Entrée Gold tumbling four cents or 4.6%, to 84 cents.
On the economic ledger, Statistics Canada reported that manufacturing sales increased for the second consecutive month, up 2.3% to $53.5 billion in December, following a revised increase of 2.3% in November.
The agency attributed the growth to higher sales of transportation equipment, as well as petroleum and coal products.
Also, the European Union and Canada secured clearance for their contentious free trade deal and the removal of import duties that supporters say will boost growth and jobs on both sides of the Atlantic.
ON BAYSTREET
The TSX Venture Exchange popped 2.82 points to 838.14
All but three of the 12 subgroups were higher on the day, as health-care leaped 3%, telecoms moved up 1.7%, information technology improved 0.9%.
The three laggards were materials, down 1.2%, gold, sliding 0.3%, and utilities sank 0.1%.
ON WALLSTREET
U.S. stocks traded at fresh highs Wednesday for a fifth-straight day as traders continued to bet on a pro-growth agenda under President Donald Trump.
The Dow Jones Industrials hiked 107.45 points from Tuesday’s all-time high to 20,611.86, with Procter & Gamble leading advancers and Merck lagging.
The S&P 500 gained 11.67 points to 2,349.25, with financials leading six sectors and utilities lagging.
The NASDAQ picked up 36.87 points to 5,819.44. The three indexes made all-time highs Wednesday.
In a meeting with retail CEOs, Trump said the administration remains "focused on the issues that will bring economic growth. That's what we're all about."
Economically speaking, the consumer price index (CPI) rose a more-than-expected 0.6% in January, the largest monthly gain since February 2013. In the 12 months through January, the CPI increased 2.5%, the biggest year-on-year gain since March 2012.
After the inflation report, Goldman Sachs and JPMorgan economists increased their expectations for a rate hike as soon as March or May.
Retail sales also beat expectations, with the headline number showing a 0.4% rise for January after an upwardly revised 1% gain in December. The so-called core retail sales, excluding automobiles, gasoline, building materials and food services, posted a 0.4% rise.
Other data released include business inventories for December, which rose 0.4%, and the February read on U.S. home builder sentiment, which showed a decline.
Meanwhile, Federal Reserve Chair Janet Yellen will be testifying in front of Congress for the second straight day. On Tuesday, she said it would be "unwise" for the U.S. central bank to wait too long to raise interest rates, lifting market expectations for a March rate hike.
Prices for the benchmark 10-year Treasury note sagged, raising yields to 2.5% from Tuesday’s 2.47%. Treasury prices and yields move in opposite directions.
Oil prices gave back 16 cents to $53.04 U.S. a barrel
Gold prices added $8.40 to $1,233.80 U.S. an ounce.
