Stocks in Toronto continued to cruise right along, maintaining momentum dating back to the final tally in the U.S. presidential election, as tech and real-estate were in the driver’s seat.
The TSX jumped 158.77 points, or 1%, to close Wednesday at 16,774.14.
The Canadian dollar surrendered 0.21 cents to 76.53 cents U.S.
Tech stocks had a field day, with Docebo leaping $5.13, or 10.3%, to $55.02, while Shopify vaulted $79.03, or 6.8%, to $1,234.00
Among a solid contingent of real-estate concerns, Canadian Apartment REIT units captured $2.58, or 5.3%, to $51.58, Crombie REIT hiked 56 cents, or 4.1%, to $14.35.
In the communications field, Rogers sprinted $1.27, or 2.1%, to $60.63, while Cogeco Communications acquired $1.71, or 1.9%, to $94.16.
Gold fared not so well, as Torex Gold handed back 84 cents, or 4.1%, to $19.56, while Wesdome Gold lost 35 cents, or 3.1%, to $10.96.
Elsewhere in resources, Dundee Precious Metals docked 18 cents, or 2.1%, to $8.36, while Endeavour Mining shed 91 cents, or 3%, to $29.49.
ON BAYSTREET
The TSX Venture Exchange edged up 0.09 points to 728.75.
All but two of the 12 TSX subgroups were higher on the day, with information techn0ology skyrocketing 3.6%, while real-estate climbing 1.5%, and communications up 1.3%.
The two laggards were gold, down 0.6%, and materials, off 0.4%.
ON WALLSTREET
The S&P 500 and NASDAQ rose on Wednesday as tech shares recovered some of their losses from earlier in the week at the expense of names which would benefit from an economic recovery.
The Dow Jones Industrials checked its winning streak at two, falling 23.29 points to 29,397.63.
The S&P 500 advanced 27.13 points to 3,572.66
The NASDAQ took on 232.57 points, or 2%, to 11,786.43.
Apple gained 3%. Netflix climbed 2.2%. Facebook acquired 1.5%, and Amazon rose 3.4%. Alphabet closed 0.6% higher, and Microsoft was up by 2.6%.
American Express fell 4.2% to lead the Dow lower. Boeing and Disney both lost at least 3%.
Tech and consumer discretionary, the worst-performing sectors this week, outperformed on Wednesday. Tech was up by more than 2%, and consumer discretionary gained 1.5%.
The best-performing sectors this week, energy and financials, lagged. Energy was down 0.8%, while financials lost 0.5%. Energy remains up more than 16% week to date despite Wednesday’s decline; financials are still 8.4% higher over that time period.
Eli Lilly’s antibody drug was cleared by the Food and Drug Administration for emergency use late Monday. The agency said the drug could be used to treat mild-to-moderate cases of Covid-19 in patients who are older than 12 years old.
The vaccine and antibody drug news comes as the United States once again topped its prior day record of daily new Covid-19 infections, on a seven-day average, while also crossing the bleak milestone of more than 10 million cases nationwide on Monday.
The seven-day average of daily new cases Monday was 108,964, a 37% increase from a week ago, according to an analysis of data from Johns Hopkins University.
The bond market was closed Wednesday due to the Veterans Day holiday.
Oil prices nosed ahead 19 cents to $41.55 U.S. a barrel.
Gold prices dipped $14.00 to $1,862.40
