Another Banner Day for TSX

Eldorado, Canada Goose Figure Prominently

Canada’s main stock index achieved yet another record high Wednesday, as advances in tech and gold stocks pulled things upward

The TSX Composite Index jumped 48.61 points to close Wednesday at 16,957.99

The Canadian dollar slid 0.09 cents to 75.46 cents U.S.

In the gold patch, Eldorado Gold hiked 33 cents, or 3.3%, to $10.43, while Kirkland Lake Gold soared $1.75, or 2.9%, to $62.50

Among techs, Absolute Software hurtled 28 cents, or 3.6%, to $8.16, while Shopify rocketed $12.10, or 3%, to $416.92.

In the utility sector, Brookfield Renewable Partners climbed $1.69, or 3%, to $58.90, while Emera Incorporation rallied $1.23, or 2.4%, to $53.26.

Health-care took some blows, however, as Cronos Group was roughed up 81 cents, or 7.8%, to $9.59, while Hexo Corp. capsized 17 cents, or 6.1%, to $2.63.

In the energy sector, Shawcor took it on the chin, $1.34, or 10.1%, to $11.87, while Husky Energy skidded 31 cents, or 3.1%, to $9.81.

In the consumer discretionary sector, Canada Goose Holdings were grounded $5.65, or 10.9%, to $46.13, while Martinrea International surrendered 26 cents, or 2.3%, to $11.23, while

ON BAYSTREET

The TSX Venture Exchange dropped 5.69 points at 530.63

All but three of the 12 Toronto subgroups remained in positive country, as gold and information technology each marched on 1.6%, while utilities were 1.1% stronger.

The three laggards were health-care, sinking 1.1%, while energy doffed 0.5%, and consumer discretionary stocks shed 0.2%.

ON WALLSTREET

The Dow Jones Industrial Average hit an all-time high on Wednesday as Disney shares popped while investors digested testimony from the top-ranking Federal Reserve official.

The 30-stock average gained 92.1 points to 27,783.59. Disney jumped 7.4% after the media giant said its Disney+ streaming service got more than 10 million sign-ups after launching on Tuesday.

The S&P 500 reaffirmed 2.2 points to 3,094.04 above Tuesday’s all-time high, its 20th of the year,

The NASDAQ slumped 3.99 points from Tuesday’s peak to 8,482.10

Disney shares erased earlier losses to trade 0.8% higher on after the media giant said its Disney+ streaming service had more than 10 million sign-ups. Shares of Facebook, Amazon, and Netflix all fell at least 0.7%. Meanwhile, a 0.5% drop in the financials sector offset a 1.4% rise in utilities.

The U.S. and China are reportedly at loggerheads over tariffs as they seek to conclude phase one of their trade deal. The Wall Street Journal reported Tuesday night, citing people familiar with the talks, that the impasse is on whether the U.S. should remove existing tariffs or would only cancel duties that are set to take effect on Dec. 15.

The report comes a day after President Donald Trump told the Economic Club of New York that China was “dying” to make a trade deal.

However, Trump offered no detail about how talks have evolved. Trump also blamed previous U.S. administrations for letting China “cheat” on trade.

Meanwhile, Fed Chairman Jerome Powell will address the Congressional Joint Economic Committee later in the day. In prepared remarks, he said the path of Fed interest rates is unlikely to change as long as the economy keeps growing.

On the data front, the U.S. consumer price index rose more than expected in October. The index increased by 0.4% last month, the U.S. Labor Department said. Economists expected a gain of 0.3%.

Prices for the 10-Year U.S. Treasury gained ground, lowering yields to 1.89% from Tuesday’s 1.91%. Treasury prices and yields move in opposite directions

Oil prices added 43 cents to $57.23 U.S. a barrel.

Gold prices acquired $10.70 to $1,464.40 U.S. an ounce.