Canada's main stock index rose on Wednesday, led by consumer discretionary shares, which overcame slightly downward readings in the oil patch.
The S&P/TSX Composite Index maintained gains of 35.87 points to greet noon at 16,299.74, slightly off its highs of the morning.
The Canadian dollar inched forward 0.09 cents at 75.05 cents U.S.
The largest percentage gainers on the TSX were Lundin Mining, which surged 23 cents, or 3.5%, to $6.59, and Home Capital Group, up 20 cents, or 1.6%, to $16.10.
Tricon Capital Group fell one cent, to $1.31, after a deal to buy a U.S. multifamily portfolio.
Torex Gold Resources collapsed $1.06, or 6.3%, to $15.78, after reporting first-quarter production results.
ON BAYSTREET
The TSX Venture Exchange slipped 0.12 points to 625.58
Eight of the 12 Toronto subgroups enjoyed gains around noon EDT, with consumer discretionary stocks staying ahead 0.9%, while financials improved 0.5%, and utilities gained 0.4%.
The four laggards were weighed most by energy issues, down 0.4%, while consumer staples and gold each snoozed 0.1%.
ON WALLSTREET
Stock rose on Wednesday as investors cheered a nearing trade deal between the U.S. and China though softer measures on payrolls and the service economy kept a lid on optimism.
The Dow Jones Industrial Average vaulted 94.46 points to reach lunch hour at 26,273.59, as UnitedHealth and Home Depot outperformed.
The S&P 500 gained 17.11 at 2,884.35, led by materials and technology stocks.
The NASDAQ Composite chugged ahead 87.8 points to 7,936.49
A bearish call on Caterpillar shares also kept the market in check. Caterpillar shares fell 1% after Deutsche Bank downgraded the industrial giant to hold from buy and slashed its 12-month price target. The bank cited a "collapse" in synchronized global growth.
American and Chinese officials are reportedly closing in on a trade deal, having resolved most of the outstanding issues in their protracted trade dispute. Both countries have levied tariffs on billions of dollars' worth of each other's goods since last year.
According to the Financial Times, Beijing wants Washington to remove existing U.S. duties on Chinese imports, while the Trump Administration wants China to agree to enforcement measures that ensure the country sticks to the deal.
Gains were capped, however, by weaker-than-expected economic data.
Private payrolls increased by 129,000 in March, according to ADP and Moody's Analytics. That is well below an estimate of 173,000. The report from ADP and Moody's is typically seen as a preview for the U.S. government's monthly jobs report, which is scheduled for release Friday morning.
A weaker-than-expected update on the U.S. services sector also capped stock advances throughout the session. Growth in services fell more than expected in March and advanced at its slowest pace in more than 12 months, the Institute for Supply Management reported.
The ISM non-manufacturing index dipped to 56.1 last month, its softest read since August 2017.
Prices for the benchmark 10-year U.S. Treasury staggered, raising yields to 2.52% from Tuesday’s 2.47%. Treasury prices and yields move in opposite directions.
Oil prices slid 15 cents to $62.43 U.S. a barrel.
Gold prices faded a dollar to $1,294.40 U.S. an ounce.
