Canada's main stock index rose on Wednesday, with technology leading the gains, while shares of Alimentation Couche-Tard jumped after the convenience store operator beat expectations for fourth-quarter profit.
The TSX gained 64.41 points to break for lunch Wednesday at 19,797.50.
The Canadian dollar dipped 0.25 cents to 75.50 cents U.S.
Alimentation Couche-Tard gained $2.09, or 3.2%, to $67.44.
Canopy Growth slumped four cents, or 5.7%, to 58 cents after KPMG resigned as the pot producer's accountant.
Postmedia Network Canada Corp gained 19 cents, or 10%, to $2.10, after the news media firm confirmed it was in a non-binding discussion with Nordstar Capital for a potential merger with some operational assets of the Toronto Star and the Metroland newspapers.
ON BAYSTREET
The TSX Venture Exchange eked up 0.83 points to 608.74.
Eight of the 12 TSX subgroups were pointed upward, with information technology surging 1.3%, while consumer staples better by 1.1%, and health-care improving 0.8%.
The four laggards were weighed most by gold, down 0.5%, while materials sagged 0.2% and utilities dropped 0.1%.
ON WALLSTREET
The S&P 500 was little changed Wednesday as traders digested the latest commentary on the pace of future monetary policy from Federal Reserve Chair Jerome Powell.
The Dow Jones Industrials dipped 43.64 points to break for noon Wednesday at 33,883.10.
The S&P 500 regained 6.87 points to 4,385.50.
The NASDAQ index gained 76.25 points to 13,631.92.
Powell on Wednesday said there is more restriction coming, including the likelihood of more interest rate hikes at future meetings.
Chip stocks fell after The Wall Street Journal reported that the U.S. was considering new export restrictions to China. Nvidia shares were lower, while Amazon advanced 1%. Tesla jumped nearly 3%. Netflix shares rose more than 4%.
Investors are preparing to close out the best first half for the NASDAQ in 40 years, as they ride a wave of optimism around artificial intelligence that has significantly buoyed a handful of mega-cap tech stocks. The S&P 500 and NASDAQ Composite are higher this year by 14% and 29%.
Powell was speaking Wednesday before a policy panel at the European Central Bank Forum on Central Banking in Sintra, Portugal.
Powell is joined by Bank of England Governor Andrew Bailey, European Central Bank President Christine Lagarde and Bank of Japan Governor Kazuo Ueda.
Prices for the 10-year Treasury enjoyed slight gains, lowering yields to 3.73% from Tuesday’s 3.76%. Treasury prices and yields move in opposite directions.
Oil prices hiked $1.64 to $69.34 U.S. a barrel.
Gold prices subtracted four dollars to $1,919.80 U.S. an ounce.
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