Equities in Canada’s largest centre staged a major recovery on Wednesday, with all sectors in positive range, led by resource stocks.
The S&P/TSX Composite Index came off its highs of the day, but still spiked 218.02 points, or 1.5%, to close Wednesday at 15,095.02
The Canadian dollar regained 0.35 cents at 75.5 U.S.
Energy led the party, with Suncor gushing $1.54, or 3.6%, to $44.52, while Canadian Natural Resources sprang up 67 cents, or 1.9%, to $35.71.
Gold also outperformed, as Barrick Gold shone 47 cents brighter, or 2.7%, to $17.82, while Kinross Gold acquired nine cents, or 2.6%, to $3.57.
Among materials issues, First Quantum Minerals galloped $1.26, or nearly 11%, to $12.77, while Agnico Eagle Mines heightened $1.69, or 3.5%, to $49.40.
U.S. crude inventories last week fell by 1.5 million barrels, the American Petroleum Institute said on Tuesday, easing concerns for now that a supply glut is building up.
On the economic front, Statistics Canada reported that wholesale trade in this country declined for a second consecutive month, down 0.5% to $63.2 billion in September.
Lower sales were recorded in five of seven sub-sectors, led by the machinery, equipment and supplies and the personal and household goods sub-sectors.
ON BAYSTREET
The TSX Venture Exchange regained 4.54 points to 604.05
All 12 subgroups reached higher, with energy better by 2.6%, while gold and materials each improved 2.4%.
ON WALLSTREET
The Dow Jones Industrial Average closed Wednesday's session just below the flatline, erasing a 200-point jump, as shares of Apple failed to hold on to strong gains from earlier in the day.
The Dow Jones Industrial Average dipped 0.95 points to 24,464.69. At its high of the day, it was up 204.15 points. Apple also gave up a 2.1% gain toward the end of the day to close just 0.1% lower.
The S&P 500 managed to hang onto gains of 8.04 points to 2,649.93
The NASDAQ regained 63.43 points to 6,972.25, as other tech shares like Facebook, Amazon and Alphabet all climbed more than 1%
Foot Locker shares surged 15.1% after the company reported better-than-expected earnings on Tuesday. Its same-store sales, a key metric for retailers, also topped analyst expectations. Other retailers like L Brands and Office Depot also rose ahead of Black Friday, one of the busiest shopping days of the year in the U.S.
In economic data, durable goods orders fell 4.4% in October, more than expected. It also marked the third decline in the past four months.
Meanwhile, weekly jobless claims rose to a more than four-month high last week.
Prices for the benchmark for the 10-year U.S. Treasury were higher, lowering yields back to Tuesday’s 3.06%. Treasury prices and yields move in opposite directions
Oil prices ascended $1.01 to $54.44 U.S. a barrel.
Gold prices hiked $4.70 at $1,225.90 U.S. an ounce.
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