Stocks stayed positive in Toronto by noon Wednesday, as energy stocks bounced with higher oil prices and equity investors broadly cheered a more cautious tone on U.S. interest rate hikes from the Federal Reserve.
The S&P/TSX Composite Index climbed 88.23 to greet noon at 13,514.46.
The Canadian dollar spiked 0.67 cents to 77.14 cents U.S.
Enbridge rose 2.2% to $50.19, and oil and gas producer Canadian Natural Resources, advanced 1.1% to $35.28.
Gold miners, meanwhile, lost ground Barrick Gold declined 2.3% to $17.94 and Agnico Eagle Mines declined 1.9% to $47.82.
The metal remains on track for its best quarter in nearly 30 years, up 16.4%
Discount retailer Dollarama advanced 6.7% to $88.32 after reporting a 25% jump in profit and hiking its dividend.
ON BAYSTREET
The TSX Venture Exchange gained 0.77 points to 577.98
All but three of the 13 TSX subgroups were positive by noon hour, as consumer staples and financials each gained 1.1%, while real-estate improved 1%.
The three laggards were gold, down 3.6%, materials, off 2%, and metals and mining, sliding 0.8%.
ON WALLSTREET
Stocks in the States pared gains in late-morning trade as oil came well off session highs and biotech stocks reversed earlier gains to hold lower.
The Dow Jones Industrials remained positive 90.03 points to pause for lunch at 17,723.14, with JPMorgan Chase and Apple leading advancers and Boeing the greatest decliner.
The S&P 500 moved up 10.3 points to 2,065.31. Information technology and financials briefly traded more than 1% higher to lead S&P 500 advancers in late-morning trade.
The NASDAQ index gained 21.57 points to 4,868.19.
Apple briefly traded 2.5% higher, building on Tuesday's rally. Cowen upgraded the stock on Wednesday to outperform from market perform and raised the price target to $135.00, based on expectations that year-over-year comparable sales and forward estimates have bottomed.
Prices for the 10-year Treasury gained ground, lowering yields to 1.84% from Tuesday’s 1.9%. Treasury prices and yields move in opposite directions.
Oil prices were positive 43 cents a barrel to $38.71 U.S.
Gold prices faded $16.22 to $1,225.98 U.S. an ounce.
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