Canada's main stock index was higher on Wednesday, supported by higher gold prices, while investor attention centered on Nvidia's quarterly earnings due after the U.S. markets close .
The TSX came off its highs of the morning, but maintained gains of 68.64 points to 30,105.10
The Canadian dollar skidded 0.31 cents to 71.19 cents U.S.
Bank of Canada Deputy Governor Nicolas Vincent is set to speak later in the day, potentially offering clues on the country's policy path.
In corporate news, JPMorgan raised the price target on business jet maker Bombardier to $215 from $170. Bombardier surged $1.09 to $214.54.
Cenovus Energy announced a $1.6-billion offering of senior notes. Cenovus settled 54 cents, or 2.1%, to $25.35.
ON BAYSTREET
The TSX Venture Exchange stayed positive 1.19 points to 868.85.
The 12 TSX subgroups were evenly divided, with information technology better 1.7%, while gold shone 1.3%, and materials were stronger 1%.
The half-dozen laggards were weighed most by telecoms, sliding 1.4%, while consumer staples and energy each backpedaled 0.5%.
ON WALLSTREET
The S&P 500 rose on Wednesday, spurred by a jump in Alphabet shares, following a four-day slide centered around technology as investors moved back into the artificial intelligence trade and bet that Nvidia’s upcoming earnings would calm fears that AI stocks are overvalued and overhyped.
The Dow Jones Industrials index stumbled 63.68 points to 46,028.06.
The much broader index was above water 9.71 points to 6,627.03. Shares were rallying around optimism about its new generation of AI, Gemini 3, which it rolled out Tuesday.
The NASDAQ hung onto gains of 66.49 points to 22,499.31. Nvidia also saw gains, rising 2% ahead of its third-quarter results scheduled for after the bell.
Analysts largely expect that the company — the largest in the broad-market index — will meaningfully beat Wall Street’s expectations and forecast strong sales growth driven by demand for its AI chips and other infrastructure.
Prices for the 10-year Treasury edged up slightly, lowering yields to 4.11% from Tuesday’s 4.12%. Treasury prices and yields move in opposite directions.
Oil prices slid $1.69 to $59.15 U.S. a barrel.
Gold prices faded $5.60 to $4,060.90 U.S. an ounce.
