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Markets in Positive Country

WELL Health, Vermilion in Winners Circle

Equities in Canada’s largest centre surged Wednesday, carried by health-care and energy concerns.

The S&P/TSX jumped 97.55 points to conclude Wednesday at 20,383.75

The Canadian dollar advanced 0.37 cents to 78.01 cents U.S.

Pot producers Canopy Growth grew 17 cents, or 2.8%, to $6.23, while WELL Health Technologies headed skyward 19 cents, or 5.6%, to $3.56.

Among energy concerns, Vermilion Energy popped $2.22, or 8.7%, to $27.73, while Whitecap Resources captured 67 cents, or 6.5%, to $10.91.

Techs also enjoyed themselves, with Softchoice climbing $1.92, or 9.5%, to $22.10, while Nuvei jumped $2.45, or 4.3%, to $59.54.

Materials weighed things down somewhat, with Osisko Mining off 13 cents, or 3.3%, to $3.83, while First Quantum Minerals sank 76 cents, or 2.1%, to $34.75.

In gold stocks, Alamos Gold dropped 15 cents, or 1.5%, to $9.77, while Kinross Gold lost six cents, to 1%, to $5.85.

Real-estate also faded with CAPREIT slipping 49 cents, or 1%, to $48.72, while Tricon Capital dipped 23 cents, or 1.5%, to $15.32.


The TSX Venture Exchange edged higher 0.67 points to 701.33.

Eight of the 12 TSX subgroups were positive by the closing bell, with health-care improving 2.9%, while energy, surging 2.1%, and information technology clicking 1% higher.

The four laggards were weighed most by gold, sliding 0.6%, materials, off 0.5%, and real-estate, nuzzling into the red 0.1%.


Stocks rose on Wednesday after the minutes of the Federal Reserve’s May policy meeting showed the central bank is prepared to raise rates further than the market had anticipated.

The Dow Jones Industrials progressed 191.66 points to conclude Wednesday at 32,120.28.

The S&P 500 jumped 37.25 points, or 1%, to 3,978.73.

The NASDAQ Composite jumped 170.29 points, or 1.5%, to 11,434.74. All of the major averages are currently on pace for a winning week.

The minutes from the Fed’s May 3-4 meeting showed officials saw the need to raise rates quickly, and possibly more than the market has priced in, to quell the recent inflationary pressures.

Retail also remained in focus Wednesday, leading the market higher after the major averages opened in the red. The reversal followed a report that bidders are still competing to acquire Kohl’s, whose shares jumped 11.9%.

Nordstrom shares jumped more than 14% after the company surpassed sales expectations and raised its full-year outlook.

Dick’s Sporting Goods gained 9.7% on strong earnings despite cutting its outlook. Best Buy even climbed, about 9%, despite getting a downgrade from Barclays, which followed a mixed earnings report Tuesday.

Elsewhere, tech stocks bounced after leading market losses in the previous session. Intuit jumped 8.2% after the tax software company reported better-than-expected quarterly profit and revenue, and raised its current quarter outlook. DocuSign and Zoom Video each rose about 8% too. Nvidia added 5% ahead of its earnings after the bell.

Treasury prices settled, bringing yields back up to Tuesday’s 2.76%. Treasury prices and yields move in opposite directions.
Oil prices gained 96 cents to $110.73 U.S. a barrel.

Gold prices dropped $12.30 to $1,853.10 U.S. an ounce.