Canada's main stock index advanced on Wednesday as gains in technology and health-care stocks helped offset losses in financials after mixed earnings from some of the country's biggest banks.
The TSX jumped 72.55 points to approach noon hour EDT Wednesday at 20,057.90.
The Canadian dollar faltered 0.28 cents to 77.13 cents U.S.
Among gainers, Canopy Growth galloped 53 cents, or 11.9%, to $4.97 late Wednesday morning.
Shares of Absolute Software jumped $2.31, or 17.5%, to $15.51, after it reported strong quarterly revenue growth and annual forecast.
Financials slipped 1%, dragged down by shares of Royal Bank, which fell $3.62, or 2.9% to $122.87, as Canada's biggest lender missed analysts' estimates for third-quarter profit, while National Bank of Canada did slightly better than expected.
National shares grabbed 59 cents to $92.92.
ON BAYSTREET
The TSX Venture Exchange tacked on 7.5 points, or 1.2%, to reach noon at 660.86.
All but three of the 12 TSX subgroups were higher, with health-care surging 4.2%, information technology grabbing 1.9%, and materials better by 1.2%.
The three laggards were consumer staples, off 0.8%, financials, down 0.7%, and communications sliding 0.2%.
ON WALLSTREET
Stocks rose Wednesday as investors awaited more guidance from Federal Reserve Chairman Jerome Powell on the central bank’s fight against inflation.
The Dow Jones Industrials surged 133.45 points to pause for lunch at 33,043.04.
The S&P 500 moved forward 21.57 points to 4,150.30.
The NASDAQ Composite leaped 94.62 points to 12,474.92.
Energy was the biggest gainer in the S&P 500, up 0.84%. Meanwhile, information technology and consumer staples lagged in the broader market index.
Intuit was the best-performing stock in the S&P 500, up 5.6%, following a strong earnings report. Advanced Auto Parts was the worst-performing stock, down 9.6%, after missing earnings expectations and lowering its full-year guidance.
The three-day Jackson Hole, Wyoming economic symposium starts Thursday with Powell slated to speak Friday morning. Fed watchers expect him to reinforce the central bank’s goal of squashing inflation and keeping expectations about future price gains in check.
Treasury prices lost ground, lifting yields to 3.10% from Tuesday’s 3.06%. Treasury prices and yields move in opposite direction.
Oil prices skidded 56 cents to $93.14 U.S. a barrel.
Gold prices picked up $4.70 to $1,765.90 U.S. an ounce.
