Equity markets in this country opened higher on Thursday, led by mining and energy shares, as precious metals extended their rally and oil advanced on lingering geopolitical concerns, while investors assessed Big Tech earnings from the U.S.
The TSX index gained 32.13 points to kick off Thursday at 33,208.20.
The Canadian dollar forged ahead 0.18 cents at 74.03 cents U.S.
In corporate news, Celestica raised its full-year revenue outlook for 2026 after the bell on Wednesday, while Canadian Pacific Kansas City slightly missed fourth-quarter profit estimates.
Celestica began the day woozier by $56.45, or 12.1%, to $410.67, while CP climbed $1.91, or nearly 2%, to $99.19.
On the economic beat, Statistics Canada reported Canada's merchandise exports fell 2.8% in November, while imports edged down 0.1%. As a result, Canada's merchandise trade deficit with the world widened from $395 million in October to $2.2 billion in November.
ON BAYSTREET
The TSX Venture Exchange fell 22.1 points, or 1.9%, to 1,126.
Seven of the 12 TSX subgroups moved upward, led by energy, surging 2.1%, telecoms, up 0.8%, financials, ahead 0.4%.
The five losing groups were weighed most by information technology, flailing 4.4%, health-care, ailing 1.8%, and real-estate, off 0.5%.
ON WALLSTREET
The S&P 500 fell on Thursday, bogged down by Microsoft, as traders reacted to the megacap technology name’s latest earnings results as well as the Federal Reserve interest rate decision.
The Dow Jones Industrials dipped 67.34 points to commence trading Thursday at 48,948.26
The much-broader index skidded 57.44 points to 6,920.54.
The NASDAQ folded 402.01 points, or 1.7%, to 23,208.20.
Microsoft dragged down the benchmark with an 11% drop, which would be its worst one-day slide since March 2020. That’s after the megacap tech name reported that cloud growth slowed in the fiscal second quarter. The company also issued soft guidance on operating margin for the fiscal third quarter.
Fellow “Magnificent Seven” member Tesla shares saw losses as well, pulling back more than 1% after the electric vehicle maker recorded a drop in annual revenue for the first time ever.
Those disappointing results now puts the pressure on Apple to deliver with its earnings results, which are set to be reported after the bell Thursday.
Keeping losses in check, however, was an 8% jump in Meta shares after the Facebook parent gave a stronger-than-expected first-quarter sales forecast.
Elsewhere in earnings, Caterpillar shares were up more than 4% after the industrial giant reported fourth-quarter results that easily beat the Street.
Prices for the 10-year Treasury stayed put, keeping yields at Wednesday’s 4.25%.
Oil prices added $2.76 to $65.97 U.S. a barrel.
Gold prices brightened $128.60 to $5,432.20.
