Equities in Canada’s largest market rose on Wednesday as strong results from U.S. cloud firm CoreWeave revived enthusiasm for the AI trade, while a rebound in oil prices helped lift energy stocks.
The TSX gained 245.70 points to reach noon EST Wednesday at 36,415.15.
The Canadian dollar fell 0.26 cents to 70.23 cents U.S.
Barrick Mining filed for an initial public offering of its North American business in New York. In Toronto, Barrick shares hesitated 32 cents to $56.00.
Canadian technology stocks climbed with Celestica hiking $28.19, or 8.8%, to $346.91, and BlackBerry advancing 66 cents, or 5.1%, to $13.62.
Specialty label and packaging firm CCL Industries rose $2.08, or 2.1%, to $101.90 after beating quarterly sales estimates
Boyd Group tumbled $14.29, or 11.4%, to $110.68, after ?the collision repair operator missed third-quarter adjusted profit estimates
Lithium Americas fell 22 cents, or 8%, to $2.48, after increasing the cost estimate for the first phase of its Thacker Pass lithium project in Nevada by 31% to $3.83 billion, citing higher labour, construction and logistics costs
Minutes showed the Bank of Canada (BoC), which raised rates for the first time in more than three years last month, acknowledged considerable uncertainty over the inflationary impact of higher energy prices and the U.S. trade war, but agreed that uncertainty would not prevent further policy action if needed
Markets are pricing in a 48% chance of another rate hike by the BoC.
ON BAYSTREET
The TSX Venture Exchange recovered 1.65 points to 823.74.
Eight of the 12 subgroups were lower, with health-care and real-estate each sinking 0.6%, while telecoms fell 0.4%.
The four gainers were led by energy, surging 2.2%, information technology, up 2.1%, and industrials, better by 0.7%.
ON WALLSTREET
Stocks were mostly higher Wednesday, boosted by sharp gains in CoreWeave and a rebound in Nvidia following back-to-back losing sessions for the chipmaker.
The Dow Jones Industrial index resurfaced 60.15 points to 52,292.04.
The S&P 500 index regrouped 95.54 points, or 1.3%, to 7,616.47.
The tech-heavy NASDAQ popped 477.96 points, or 1.9%, to 25,534.83.
Neocloud stock CoreWeave rallied 20% after reporting third-quarter revenue that beat analyst expectations. CoreWeave also lifted operating income and revenue guidance for 2026.
Nvidia, meanwhile, climbed 2.7% after dropping nearly 10% to start the week when CEO Jensen Huang confirmed he had an affair with an alleged Chinese spy. The pullback in Nvidia weighed on the broader market Tuesday, with the major averages ending the session lower.
Artificial intelligence lab Anthropic on Tuesday said in an updated Securities and Exchange Commission filing that it will offer 825 million shares in an initial public offering planned for next week that could value the five-year-old company at as much as $1.4 trillion.
The U.S. bond market is closed on Wednesday for Veterans Day.
Oil prices surged $2.20 to $88.24 U.S. a barrel.
Gold prices fell $18.80 to $4,011.40 U.S. an ounce.
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