Stocks in Toronto made headway after Wednesday’s opening bell, powered by energy and health-care stocks, after Tuesday’s promise dissolved by the close.
The S&P/TSX Composite Index started Wednesday leaped 124.46 points to 14,792.29
The Canadian dollar gained 0.18 cents to 74.93 U.S.
RBC raised the price target on Just Energy Group to $5.50 from $5.00. Just Energy shares dwindled 69 cents, or 12.8%, to $4.72.
Barclays raises rating on North West Company to overweight from equal-weight. Shares in North West popped $2.33, or 7.9%, to $31.79.
Canaccord Genuity initiated coverage on Cargojet with a buy rating and a $90 price target. The airline gained 80 cents, or 1.1%, to $77.28.
ON BAYSTREET
The TSX Venture Exchange nicked up 1.5 points to 565.64.
All but one of the 12 TSX subgroups got off on the right foot Wednesday, as energy gushed 1.7%, while health-care soared 1.6%, and industrials improved 1.3%.
The lone laggard was in real-estate, sinking but 0.1%.
ON WALLSTREET
Stocks opened higher on Wednesday as investors digested news related to the ongoing trade war between the United States and China.
The Dow Jones Industrial Average vaulted 270.06 points, or 1.1%, to 24,640.30, led by gains in Caterpillar.
The S&P 500 recovered 30.1 points, or 1.1%, to 2,666.88, as the energy and tech sectors outperformed.
The NASDAQ jumped 102.72 points, or 1.5%, to 7,134.55, as Facebook, Amazon, Netflix and Google-parent Alphabet all traded higher.
Shares of Caterpillar and Boeing both rose more than 1.5%. These stocks are considered global trade bellwethers because of their exposure to markets abroad.
Bank stocks also rose, as shares of J.P. Morgan Chase, Morgan Stanley and Citigroup all traded higher.
The Wall Street Journal reported China is working to increase access to foreign companies, a move aimed at smoothing U.S.-China trade relations. This plan, the report says, would replace the country’s Made in China 2025 plan, a framework aimed at making China a leader in industries like clean-energy cars and robotics.
President Donald Trump told the media on Tuesday he would he would intervene in the Justice Department’s case against a top executive at Chinese telecoms giant Huawei if it would help serve national security interests or help U.S.-Sino trade talks. Huawei is the one of the largest tech companies in China. It is also seen as a symbol of pride by the Chinese government.
Prices for the benchmark for the 10-year U.S. Treasury were lower, raising yields to 2.90% from Tuesday’s 2.88%. Treasury prices and yields move in opposite directions
Oil prices improved 80 cents to $52.43 U.S. a barrel.
Gold prices settled $3.90 to $1,251.10 U.S. an ounce.
