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 gained 36.03 points to close Wednesday at 20,021.38.
The Canadian dollar faltered 0.27 cents to 77.13 cents U.S.
Health-care stocks led the way up, with Canopy Growth skyrocketing 65 cents, or 14.6%, to $5.09, while Aurora Cannabis moving 19 cents, or 10.3%, to $2.03.
In materials, Lithium Americas chugged $1.98, or 5.1%, to $41.11, while First Majestic Silver hurtled 35 cents, or 3.5%, to $10.33.
Energy stocks did well, too, with Birchcliff Energy taking on 45 cents, or 3.8%, to $12.17, while Vermilion Energy added $1.39, or 3.9%, to $37.20.
Consumer staples went the other way, however, with Loblaw trudging $2.49, or 2%, lower to $119.47, while George Weston fell $2.95, or 1.9%, to $155.32.
In financials, Royal Bank subsided $3.34, or 2.6%, to $123.15, while Scotiabank lost ?$1.72, or 2.3%, to $74.82.
In communications, Corus Entertainment shed five cents, or 1.3%, to $3.76, while Rogers dipped 49 cents to $57.82.
ON BAYSTREET
The TSX Venture Exchange tacked on 6.25 points, or 1%, to finish at 659.61.
All but three of the 12 TSX subgroups were higher, with health-care surging 4.2%, materials better by 1.4%, and energy up 1.1%.
The three laggards were consumer staples, off 1.1%, financials, down 1%, and communications sliding 0.3%.
ON WALLSTREET
The S&P 500 rose Wednesday, attempting to recover from a three-day decline, as investors awaited more clarity on the Federal Reserve’s fight against inflation.
The Dow Jones Industrials gained 59.64 points, off its daily highs, to end the day at 32,969.23.
The S&P 500 moved forward 12.04 points to 4,140.77.
The NASDAQ Composite added 50.23 points to 12,431.53.
Consumer discretionary, real estate and communication services were the best-performing sectors in the S&P 500. Meanwhile, utilities, materials and consumer staples were market laggards.
Cruise lines were among the best-performing stocks in the broader market index. The Norwegian Cruise Line Holdings jumped 8%, Royal Caribbean Group advanced 7%, and Carnival was 5% higher.
In contrast, Advance Auto Parts was the worst-performer in the S&P 500, down 9.5%, 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 3.11% from Tuesday’s 3.06%. Treasury prices and yields move in opposite direction.
Oil prices regained $1.58 to $95.32 U.S. a barrel.
Gold prices picked up $4.40 to $1,765.60 U.S. an ounce.
