Stocks in Toronto joined their American cousins in the stratosphere Wednesday, with resource and technology powering the rise.
The TSX leaped 493.18 points, or 1.5%, to close Wednesday at 33,389.73.
The Canadian dollar faded 0.32 cents at 73 cents U.S.
iA Financial reported fourth-quarter profit below estimates and IAMGOLD reported quarterly revenue above estimates. IA shares toppled $18.72, or 11%, to $147.59, while those for IAMGOLD gained 77 cents, or 2.7%, to $29.17.
Agnico Eagle announced additional investment in Maple Gold Mines. Agnico shares accelerated $11.92, or 4.1%, to $302.34.
Bombardier jumped $14.97, or 5.9%, to $268.89, while Magellan gained 41 cents, or 1.9%, to $22.21, and MDA Space rose $1.22, or 3.3%, to $38.23.
On the economic slate, the Canadian Real Estate Association reports the number of home sales recorded over Canadian MLS® Systems fell 5.8% on a month-over-month basis in January 2026.
ON BAYSTREET
The TSX Venture Exchange spiked 29.74 points, or 3.1%, to 996.49.
All but three of the 12 TSX subgroups moved upward, with information technology sprinting 3.9%, gold up 2.9% and materials improving 2.9%.
The three laggards were utilities, down 0.5%, telecoms, sliding 0.1%, and consumer staples, down 0.01%.
ON WALLSTREET
The S&P 500 moved higher on Wednesday, supported by gains in key technology names, as traders weighed the release of the minutes from
the Federal Reserve’s most recent policy meeting.
The Dow Jones Industrial Average stayed above water 129.47 points to 49,662.66.
The much-broader index took on 38.09 points to 6,881.31.
The NASDAQ gained 175.25 points to 22,753.64.
Nvidia shares advanced 1.6% on the heels of Meta Platforms announcing Tuesday that it’s going to use millions of Nvidia’s chips in its data center buildout.
Similarly, fellow “Magnificent Seven” member Amazon moved higher by nearly 2% after regulatory filings showed Bill Ackman’s Pershing Square grew its stake in the e-commerce giant by 65% during the fourth quarter. That makes Amazon the fund’s third-largest holding. The move comes after the stock snapped a nine-day losing streak.
Micron Technology also saw gains after David Tepper’s Appaloosa Management increased its holdings in the chipmaker. The stock closed more than 5% higher.
Prices for the 10-year Treasury slid, bringing yields up to 4.07% from Tuesday’s 4.06%. Treasury prices and yields move in opposite directions.
Oil prices regained $2.34 Wednesday to $64.67 U.S. a barrel.
Gold prices gained $119.50 to $5,025.20 U.S. an ounce.
