Canada's main stock index rose on Thursday as energy and financials stocks gained, while shares of technology company BlackBerry jumped after posting a surprise profit.
The TSX gained 4.33 points noon hour Thursday at 19,823.18.
The Canadian dollar retreated 0.04 cents to 75.50 cents U.S.
Among individual stocks, Paramount Resources slipped 0.2% after National Bank of Canada downgraded the energy company's rating to "sector perform" from "outperform".
BlackBerry jumped 11.7% to reach a four-week high after it posted a surprise profit for the first quarter.
Statistics Canada revealed the number of employees receiving pay or benefits from their employer—measured as "payroll employees" in the Survey of Employment, Payrolls and Hours—decreased by 25,100 (-0.1%) in April, excluding federal government public administration.
ON BAYSTREET
The TSX Venture Exchange shed 0.91 points to 610.88.
The 12 TSX subgroups were split between gainers and losers, with health-care gaining 1.2%, consumer discretionary stocks up 0.5%, and gold, up 0.4%.
The half-dozen laggards were co-weighed by utilities, materials and real-estate, each down 0.2%.
ON WALLSTREET
The Dow Jones Industrial Average gained on Thursday as big bank names rose after passing the Federal Reserve’s annual stress test and a revised upward GDP print alleviated some recession fears.
The 30-stock index shot higher 215.84 points to move into noon hour EDT Thursday at 34,065.50, lifted by major bank names.
The S&P 500 gained 13.88 points to 4,390.74.
The NASDAQ index poked ahead 6.56 points to 13,598.71.
JPMorgan Chase, Bank of America and Wells Fargo rose more than 2% each. Other financial stocks hit during this year’s banking crisis also gained, including Charles Schwab, Western Alliance and Zions Bancorporation.
A bout of positive economic data signaled economic resilience despite looming recession fears. That included a large upward revision in first-quarter GDP and drop in weekly jobless claims to the lowest level since May.
Just two trading days remain in what’s been a banner first half. The S&P 500 is up 14% this year and on pace for its best monthly performance since January. The tech-heavy NASDAQ has climbed nearly 30% — heading toward its best first half since 1983 — as rising optimism around artificial intelligence pushed up a slew of tech names and chipmakers. The blue-chip Dow is the relative underperformer, up just 2% this year.
Prices for the 10-year Treasury went earthward, propelling yields higher to 3.85% from Wednesday’s 3.71%. Treasury prices and yields move in opposite directions.
Oil prices slid 34 cents to $69.22 U.S. a barrel.
Gold prices faltered $3.80 to $1,918.40 U.S. an ounce.
Markets Pop as Banks Pass Stress Tests
