Canada's main stock index kick-started November on a positive note, driven by energy shares as oil prices rose.
The TSX Composite seized 95.76 points to begin the midweek session at 18,969.23.
The Canadian dollar deleted 0.04 cents at 72.01 cents U.S.
On the economic slate, Manufacturing PMI in Canada increased to 48.60 points in October from 47.50 points in September of 2023.
Manufacturing PMI in Canada averaged 52.60 points from 2011 until 2023, reaching an all time high of 58.90 points in March 2022 and a record low of 33 points in April of 2020, those figures from Markit Canada.
ON BAYSTREET
The TSX Venture Exchange dipped 0.73 points to 515.34.
All but two of the 12 TSX subgroups were positive in the first hour, with utilities up 1.4%, while consumer staples and real-estate each surged 0.9%.
The two laggards were materials, down 0.2%, while gold dulled 0.1%.
ON WALLSTREET
Stocks rose Wednesday as Wall Street braced for the Federal Reserve’s latest policy decision on interest rates after closing out a terrible month.
The Dow Jones Industrials added 76.71 points, to lead off Wednesday at 33,129.58.
The S&P 500 index progressed 10.38 points to 4,204.18.
The NASDAQ surged 33.01 points to 12,884.25.
Information technology stocks outperformed, gaining 0.8%. Nvidia was higher by more than 1%. Advanced Micro Devices rose more than 2%.
The Treasury detailed plans of the size of its future bond sales amid growing concerns of the U.S. government’s rising debt load. It appeared to be in-line with what traders were expecting. The Treasury will auction $112 billion in debt next week, largely matching what Wall Street was expecting.
Private sector payrolls in October came in weaker than expected, the ADP said Wednesday. Companies added 113,000 workers last month, lower than the 130,000 anticipated by economists polled by Dow Jones.
Wall Street is coming off a dismal October. The Dow slid 1.4% to end the month, and the S&P 500 fell 2.2%, marking the first three-month losing streak for both indexes since March 2020. Notably, the S&P 500 temporarily fell into correction territory. The NASDAQ Composite dropped 2.8% in October, also falling for a third straight month.
Prices for the 10-year Treasury jumped, lowering yields to 4.81% from Tuesday’s 4.92%. Treasury prices and yields move in opposite directions.
Oil prices improved $1.83 to $82.85 U.S. a barrel.
Gold prices let go of 10 cents to $1,994.20.
