Canada's main stock index rose ?sharply on Thursday, with miners leading broader gains, after U.S. Fed Governor Christopher Waller signaled patience on interest rates, prompting markets to pull back bets for a September rate hike.
The TSX soared 541.51 points, or 1.5%, to end the session at 36,633.12
The Canadian dollar leaped 0.30 cents to 72.53 cents.
Among tech issues, Celestica leaped $43.91, or 11.4%, to 11.4%, to $428.22, and Open Text Corp. spread their wings $1.50, or 4.6%, to $34.13.
Among gold concerns. Wesdome Gold popped $2.57, or 8%, to $34.60, while OceanaGold surging $2.13, or 5.3%, to $42.36.
Canadian miners rose with Discovery Mining capturing 85 cents, or 8% to $13.37, Lundin Gold added 52 cents, or 1.5%, to $35.94.
In the oil patch, Spartan Delta Energy subsided 36 cents, or 2.6%, to $13.29, while Kelt Exploration dipped 24 cents, or 2.3%, to $10.41.
In the health-care field, Curaleaf gave back 66 cents, or 4.8%, while Bausch Health Companies doffed 14 cents, or 1.5%, to $9.32.
Thomson Reuters rose $7.35, or 5%, to $153.91, tracking gains in U.S. software stocks.
ON BAYSTREET
The TSX Venture Exchange gained 9.5 points, or 1%, to 972.
All but two of the 12 TSX subgroups were higher, led by gold and information technology, each climbing 3.8%, while materials picked up 3.1%.
The two laggards were energy, dwindling 0.8%, and health-care, fading 0.2%.
ON WALLSTREET
Equities moved higher on Thursday, while Treasury yields pulled back, as investors grew hopeful that the Federal Reserve may leave interest rates unchanged this month.
The Dow Jones Industrials surged 623.57 points, or 1.2%, to close Thursday at 53,685.52
The S&P 500 advanced 81 points, or 1.1%, to 7,747.59.
The NASDAQ Composite jumped 366.23 points, or 1.4%, to 26,584.06
The benchmark 10-year Treasury note yield last traded around 4.77%, seeing declines after Federal Reserve Governor Christopher Waller said he’d be “inclined to support” holding rates steady barring any surprises in upcoming inflation data. On Wednesday, the yield hit its highest level since November 2023.
Snowflake shares were a bright spot, popping more than 20% after the company reported better-than-expected second-quarter earnings and revenue as well as issued strong guidance.
Conversely, shares of Broadcom dropped 2% following its latest quarterly results, with the company offering a disappointing revenue forecast for the fiscal fourth quarter.
Prices for the 10-year Treasury gained, lowering yields 4.77% from Wednesday’s 4.79%. Treasury prices and yields move in opposite directions.
Oil prices acquired 62 cents to $91.63 U.S. a barrel.
Gold prices gained $111.40 to $4,526.00 U.S. an ounce.
