Markets throughout North America were on the route skyward Wednesday, powered largely by money and tech stocks.
The TSX popped 217.03 points to conclude Wednesday at 36,324.99.
The Canadian dollar acquired 0.12 cents to 71.21 cents U.S.
The U.S. Federal Reserve is expected to keep interest rate on hold this month and deliver a hike in ?December, according to nearly all economists polled by Reuters
The federal budget ?will be delivered on November 5, Finance Minister Francois-Philippe Champagne told the House of Commons on Tuesday
Traders are ?pricing in an 80% chance of a Bank of ?Canada rate hike next week, and a percentage point hike over the next 12 months.
Financials ruled the roost, with TD jumping $3.29, or 1.2%, to $175.00, Definity Financial gained $1.46, or 2.1%, to $72.80.
Among tech issues, BlackBerry soared 74 cents, or 5.9%, to $13.19, with Firan Technology rising $1.52, or 4.6%, to $34.63.
In industrials, Mullen Group tacked on $1.46, or 5.7%, to $28.95, while Hammond Power Systems hiked $10.08, or 4.5%, to $235.14.
In consumer discretionary stocks, Magna International ditched $3.78, or 4.1%, to $89.51, while Linamar Corporation slid $2.54, or 2.8%, to $89.06.
Communications also took their lumps, primarily, Rogers, who sank 74 cents, or 1.6%, to $44.61, while Quebecor submerged 67 cents, or 1%, to $64.36.
In consumer staples, Alimentation Couche-Tard fell two dollars, or 2.3%, to $83.36, while Empire Company regressed 77 cents, or 1.5%, to $50.29.
Japan's Mitsubishi Corp approved the construction of a copper mining project in Arizona, jointly with Hudbay Minerals. Hudbay shares gained 44 cents, or 1.3%, to $33.71.
ON BAYSTREET
The TSX Venture Exchange inched up 2.54 points to 848.54
Eight of the 12 subgroups made progress, led by financials, gaining 1.4%, information technology, up 0.9%, and industrials, up 0.8%.
The four laggards were weighed most by consumer discretionary stocks, losing 1.5%, while telecoms and consumer staples each lost 1%.
ON WALLSTREET
The NASDAQ Composite rose on Wednesday as the latest developments surrounding SpaceX and Tesla led investors to move back into technology.
The Dow Jones Industrials popped 361.22 points to wind up business at 52,857.10.
The S&P 500 index added 45.14 points to 7,757.71.
The tech-heavy NASDAQ accelerated 278.04 points, or 1.1%, to 26,702.86.
Shares of Elon Musk’s SpaceX surged 7% after the company said its revenue grew 161% in the third quarter. Musk also said that SpaceX and Tesla, his auto manufacturer, have formed special committees to discuss a merger. Tesla, which is due to report earnings later, was up more than 3%.
SpaceX’s artificial intelligence business grew ninefold, reigniting enthusiasm for stocks related to the trade.
Key chipmakers such as Advanced Micro Devices advanced almost 4%, while Nvidia rose more than 2%. Micron Technology and Marvell Technology each grew more than 2%.
Traders are also watching for results from IBM and Southwest Airlines, both of which are due Wednesday as well.
Investors are seeking more insights into the AI trade on Wednesday, with Meta Platforms also set to report after the bell. Earlier this month, the company rolled out its latest AI model, Muse Wonder, which is only available to paying users.
Netflix was a key laggard during Wednesday’s session. Shares tumbled more than 5% after the streaming mainstay’s full-year revenue forecast came in below analysts’ expectations. The company also cut its ad revenue guidance for the full year.
Prices for the 10-year Treasury lost ground, raising yields to back to Tuesday’s 5.12%. Treasury prices and yields move in opposite directions.
Oil prices dipped 18 cents to $97.64 U.S. a barrel.
Gold prices accumulated $7.80 to $4,150.40 U.S. an ounce.
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