Canada's main stock index on Wednesday bounced back from the previous session's sharp sell-off, as investors digested fresh comments from U.S. President Donald Trump in Davos, Switzerland hinting that he would not use force to acquire Greenland.
The TSX index decreased from its highs of the morning, but remained positive 42.62 points to pause for lunch Wednesday at 32,792.90.
The Canadian dollar gained 0.10 cents to 72.39 cents U.S.
The benchmark had recorded its biggest decline since November 20 on Tuesday, when global markets tumbled after Trump threatened to impose tariffs on eight European countries if the U.S. was not allowed to take over Greenland.
Among individual stocks, Teck Resources was a standout, rising $4.00, or 5.8%, to $73.47, after the copper miner reaffirmed its production outlook for 2026.
Eldorado Gold also gained $3.30, or 5.6%, to $62.62. after the gold miner said it had achieved the higher end of its production guidance in the previous year.
On the economic scene. Statistics Canada reports its industrial product price index decreased 0.6% month over month in December, and gained 4.9% year over year. The Raw Materials Price Index increased by 0.5% month over month in December and rose 6.4% year over year.
ON BAYSTREET
The TSX Venture Exchange subtracted 2.95 points to 1,090.38.
Seven of the 12 TSX subgroups had gone negative by noon EST, weighed most by information technology, down 1.4%, health-care, off 0.8%, and gold, dulling 0.5%.
The five gainers were led by energy, up 2.7%, consumer staples, ahead 0.9%, and industrials, better by 0.5%.
ON WALLSTREET
Stocks rose Wednesday after President Donald Trump told the World Economic Forum he would not use force to acquire Greenland, easing a concern that has rattled markets and caused a flight from dollar-based assets.
The Dow Jones Industrials recovered 255.21 points to 48,743.80.
The S&P 500 picked up 26.05 points to 6,823.51.
The NASDAQ remained in the green 40.62 points, or 2.4%, to 22,994.94.
Trump was commenting in his speech in Davos, Switzerland, about how he believed the U.S. was carrying the financial and military load for NATO.
The president also said in his Davos speech that he would be asking Congress to implement his proposed credit card cap of 10%, an uncertain prospect given lack of support among lawmakers.
That comment sent bank stocks higher. Citigroup gained around 2%, and Capital One rose more than 1%.
Prices for the 10-year Treasury withered, lowering yields to 4.28%, from Tuesday’s 4.29%. Treasury prices and yields move in opposite directions.
Oil prices gained 14 cents to $60.50 U.S. a barrel.
Gold prices leaped $83.00 to $4,834.30.
