Canada's main stock index opened higher on Wednesday, as higher commodity prices lifted miners and energy stocks, while investors assessed developments in the U.S.-Iran conflict and new U.S. tariffs on Canadian imports.
The TSX popped 310.5 points to begin Wednesday at 35,679.58
The Canadian dollar regained 0.08 cents to 70.97 cents U.S.
ON BAYSTREET
The TSX Venture Exchange grabbed 13.08 points, or 1.5%, to 886.15.
All but one of the 12 TSX subgroups were higher, as gold spiked 3.8%, materials soared 3.1%, and energy improved 1.7%.
Only information technology sagged, 1.1%, while health-care ailed 0.1%.
ON WALLSTREET
The S&P 500 was relatively unchanged on Wednesday, pressured by a rise in oil prices, as investors looked ahead to another busy day of corporate earnings.
The Dow Jones Industrials rumbled higher 233.89 points to 52,458.53.
The much broader index eked higher 0.78 points to 7,509.98.
The NASDAQ Composite dropped 89.78 points to 25,747.43.
Earnings take center stage again on Wednesday, with reports due from ServiceNow, International Business Machines, Tesla, Texas Instruments and Alphabet.
AT&T shares also saw gains, rising 4% following the telecommunications company’s better-than-expected earnings for the second quarter.
Conversely, shares of GE Vernova dropped 6% after the company’s second-quarter earnings missed expectations.
Investors will be watching closely for updates on AI spending, cloud demand, corporate technology budgets and the outlook for the second half of the year.
Prices for the 10-year Treasury backpedaled, raising yields to 4.65% from Tuesday’s 4.63%. Treasury prices and yields move in opposite directions.
Oil prices gained $2.54 to $86.88 U.S. a barrel.
Gold prices zoomed $84.30 to $4,160.70 U.S. an ounce.
