Canada's main stock index wobbled somewhat at the open on Thursday, despite gains in financials and industrials as investors awaited developments on the Middle East front and a high-stakes U.S.-China summit.
The TSX Composite Index was lower 11.98 points at the outset Thursday to 34,029.45.
The Canadian dollar slipped 0.09 cents to 72.88 cents U.S.
Keyera posted a first-quarter loss. Its shares kicked off Thursday up 76 cents, or 1.4%, to $53.78.
Canadian Tire reported Q1 adjusted profit above market expectations. Canadian Tire shares dived $5.91, or 3.2%, to $176.36.
Sherritt International said its first quarter financial filing could be delayed after its external auditor resigned and finance chief left, which could trigger a halt in its Canada shares trading.
Sherritt shares withered 3.5 cents, or 24.1%, to 11 cents.
U.S. President Donald Trump is expected to ask China for help in ending the unpopular war in Iran, with peace talks between Tehran and Washington deadlocked
Iran's foreign minister urged BRICS nations to condemn U.S. and Israel actions as "violations of international law"
On the economic schedule, the Canadian Real Estate Association reported the number of home sales recorded over Canadian MLS Systems was up 0.7% on a month-over-month basis in April.
Moreover, in March, 176,500 new motor vehicles were sold in Canada, decreasing 6.6% from March 2025. In dollar terms, sales decreased 3.6% in March 2026 compared with one year earlier.
Over the same period, the number of new passenger cars sold fell by 4.3%, while the number of new trucks sold saw a decline of 6.9%.
Wholesale trade for March rose 1.9%.
ON BAYSTREET
The TSX Venture Exchange dumped 9.77 points, or 1%, to 1,006.35.
All but two of the 12 TSX subgroups were in the green, as consumer staples picked up 1.3%, telecoms improved 1%, and health-care shares were haler by 0.8%.
The two laggards were materials, off 1.9%, and gold, stumbling 1.8%.
ON WALLSTREET
Stocks were higher on Thursday, with the Dow Jones Industrial Average retaking 50,000 after strong earnings from Cisco Systems and following a key meeting between U.S. and China.
The 30-stock index zoomed 284.99 points to begin Thursday at 49,978.19.
The S&P 500 climbed 29.02 points to 7,473.27.
The tech-heavy NASDAQ rocketed 78.51 points to 26,480.85.
Shares of Cisco surged 15% after the software giant posted third-quarter results and guidance that beat Wall Street’s expectations and announced it would be cutting almost 4,000 jobs.
Cisco’s gain gave the Dow a boost, putting it on track to reclaim the 50,000 level it reached earlier this year.
The Dow also got a lift from Boeing, which rose 1% as expectations grew that the summit between President Donald Trump and Chinese President Xi Jinping could yield some deals for U.S. companies.
Nvidia also advanced more than 2% after Reuters reported that the U.S. has cleared about 10 Chinese firms to purchase Nvidia’s H200 chip, though no deliveries have been made yet.
Cisco and Nvidia, as well as Amazon, have supported the Dow’s comeback — Cisco and Amazon have risen 30% in the past two months, while Nvidia has gained 25%. The run-up for the index comes even as the conflict in the Middle East persists, keeping inflationary fears among investors heightened as oil prices remain elevated.
Iran was a major topic of discussion during the summit between Trump and Xi Thursday, with the two sides agreeing that the Strait of Hormuz must remain open, per a White House official.
Prices for the 10-year Treasury strengthened slightly, dropping yields to 4.45% from Wednesday’s 4.47%. Treasury prices and yields move in opposite directions.
Oil prices faded 22 cents to $100.80 U.S. a barrel.
Gold prices slid $17.60 to $4,689.1.70 U.S. an ounce.
