Stock indexes in Toronto opened higher on Wednesday as progress in U.S.-Iran peace talks eased inflation worries, while investors awaited the release of chipmaker Nvidia's results - seen as a key test of AI demand - later in the day.
The TSX Composite Index recovered 127.5 points to begin Wednesday at 33,868.74.
The Canadian dollar slid 0.05 cents to 72.68 cents U.S.
U.S. President Donald Trump said on Tuesday the war in the Middle East would be over "very quickly", while Vice President J.D. Vance talked up progress in negotiations for a peace deal.
ON BAYSTREET
The TSX Venture Exchange handed over 3.26 points to open Wednesday to 953.99.
All but two of the 12 TSX subgroups gained ground, with financials richer 0.6%, utilities improving 0.5%, and consumer discretionary stocks up 0.4%.
The two laggards were energy, tailing off 0.2%, while information technology dipped 0.1%.
ON WALLSTREET
The S&P 500 moved higher on Wednesday, thanks in part to a decline in oil prices, as traders looked ahead to the release of Nvidia’s first-quarter earnings report.
The Dow Jones Industrials dipped 70.64 points, to open at 49,293.24.
The much broader index squeezed higher 13.46 points to 7,367.07.
The NASDAQ rebounded 110.39 points to 25,987.48.
West Texas Intermediate futures shed 2% to trade around $102 per barrel. Brent crude pulled back 2% to around $108 a barrel.
Investors are turning their attention toward Nvidia, which reports its first-quarter earnings after the close. The report will be an important view into the artificial intelligence trade and provide the latest update on demand for chips. Shares of the company were last 1% higher.
Prices for the 10-year Treasury eked upward, lowering yields to 4.66% from Tuesday’s 4.67%. Treasury prices and yields move in opposite directions.
Oil prices slid $1.76 to $102.39 U.S. a barrel.
Gold prices slid $25.40 to $4,487.40 U.S. an ounce.
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