Equities in Toronto got off to a flying start Wednesday, powered largely by resource and tech issues.
The TSX soared 547.29 points, or 1.5%, to commence trading Wednesday at 36,346.88.
The Canadian dollar pointed upward 0.15 cents at 71.25 cents U.S.
Kinross Gold rose $2.60, or 8.1%, to $75.87.
On the earnings front, Thomson Reuters beat second-quarter profit and revenue estimates and raised its annual revenue growth forecast. Thomson shares stepped back $2.45, or 6%, to $150.67.
Suncor Energy beat second-quarter adjusted profit estimates, while insurance and wealth manager iA Financial topped quarterly core EPS estimates late on Tuesday. Suncor shares dipped $2.29, or 2.6%, to $88.50.
The latest results add to a busy earnings season, with PHX Energy and Dexterra Group having also reported results after market close on Tuesday. PHX inched up 10 cents to $11.02, while Dexterra shares docked 50 cents, or 3.2%, to $15.22.
ON BAYSTREET
The TSX Venture Exchange galloped 24.62 points, or 2.7%. to 923.51.
The 12 TSX subgroups were evenly divided, with gold shinier by 7.1%, materials climbed 5.5%, and information technology leaped 4.1%.
The half-dozen laggards were weighed most by utilities, fading 1.2%, while industrials and energy each slid 1%.
ON WALLSTREET
The S&P 500 rose to a new all-time intraday record on Wednesday, building on its big rally in recent days, as traders pored through the latest batch of strong corporate earnings reports and grew hopeful that the Strait of Hormuz would be reopened in the near-term.
The Dow Jones Industrials shot higher 589.72 points, or 1.1% to 54,675.64, improving on Tuesday’s new record.
The much-broader improved 31.93 points, or 0.4%, to 7,768.45
The NASDAQ Composite acquired 39.54 points to 26,624.54.
The three indexes are tracking for their best five-day performance since April 2025.
Wednesday’s new record highs were supported by Dow member Disney, which rose more than 2% on better-than-expected earnings for its fiscal third quarter, as well as Eli Lilly. Shares of the pharmaceutical giant moved higher by 7% after its second-quarter earnings and revenue surpassed estimates.
Investors shook off a 4% drop in shares of chip giant Advanced Micro Devices, which posted adjusted earnings that only came in slightly ahead of the Street’s estimates.
The two reports add to an already strong earnings season so far, which has seen more than 84% of S&P 500 companies beat expectations
Prices for the 10-year Treasury remained in place, keeping yields at Tuesday’s 4.63%.
Oil prices hesitated 86 cents to $74.91 U.S. a barrel.
Gold prices spiked $145.60 to $4,298.20 U.S. an ounce.
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