Canada's main stock index inched up on Thursday, bolstered by gains in the consumer discretionary and industrial sectors amid a lack of fresh cues to the future path of interest rates.
The TSX Composite gained 30.38 points by noon to 20,725.40.
The Canadian dollar eked higher 0.06 cents to 74.12 cents U.S.
Fortuna Silver Mines dropped 69 cents, or 14.4%, to $4.11, after the company reported its annual production forecast.
Birchcliff Energy was down 53 cents, or 9.2%, to $5.21 after it revised its five-year outlook to reflect slower production.
ON BAYSTREET
The TSX Venture Exchange fell 0.95 points by noon hour to 553.03.
The 12 subgroups evenly divided by midday Thursday, with consumer staples and industrials each up 1.2%, and information technology higher by 0.5%.
The half-dozen laggards were weighed most by health-care, down 0.9%, while utilities and gold each slipped 0.5%.
ON WALLSTREET
Tech companies powered the market higher Thursday, leading the NASDAQ Composite higher and reversing its early 2024 losses.
The Dow Jones Industrials decreased 88.67 points at 37,178.
The much broader index regained 10.8 points to 4,750.01.
The NASDAQ spiked 130.60 points to 14,986.22.
Apple shares ticked higher by 3.3% after Bank of America upgraded the stock to buy, calling for more than 20% upside over the next 12 months. This put the tech giant on pace for its best day since May 5, 2023.
Taiwan Semiconductor Manufacturing Co, the world’s largest chipmaker, rallied 8% after posting an earnings and revenue beat for the fourth quarter.
First-time filings for unemployment insurance came in at 187,000 for the week ended Jan. 13, down 16,000 from the previous period, the Labor Department reported Thursday. That was stronger than economists’ consensus estimate of 208,000, according to numbers gathered by Dow Jones.
Prices for the 10-year Treasury faded, raising yields to 4.14% from Wednesday’s 4.10%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.33 to $73.89 U.S. a barrel.
Gold prices shone brighter $10.00 to $2,016.50.
