Stocks in Toronto made their way into plus readings by the end of Wednesday, as strength in tech and industrial interests carried the day.
The S&P/TSX Composite forged ahead 39.16 points to conclude business on Wednesday at 16,611.84
The Canadian dollar drooped 0.07 cents to 76.06 cents U.S.
Techs were champs Wednesday, as Celestica climbed 46 cents, or 5.2%, to $9.39, while Photon Control acquired five cents, or 4.6%, to $1.14.
Canadian National Railway beat analysts' estimates for quarterly adjusted profit on Tuesday, as the country's largest railroad operator shipped higher volumes of crude, refined petroleum products and grains.
CNR shares popped $3.97, or 3.3%, to $123.50.
Shareholders of WestJet Airlines on Tuesday voted in favor of its deal to be acquired by billionaire Gerry Schwartz's private equity firm Onex Corp for $3.5 billion.
WestJet shares inched up a penny to $30.70, while shares in Onex picked up 99 cents, or 1.3% to $80.04.
Among materials, Interfor Corp. jumped 61 cents, or 5%, to $12.90, while Fortuna Silver Mines triumphed 24 cents, or 4.8%, to $5.27.
In the energy sector, Cenovus Energy docked 37 cents, or 2.9%, to $12.30, while MEG Energy fell 14 cents, or 2.6%, to $5.21.
CannTrust Holdings fell 73 cents, or 21.5%, the most on the TSX, to $2.70, after a report said that the company's chairman and chief executive officer were informed in November of its unlicensed cannabis growing.
HEXO Corp. also lost some muscle, dropping 30 cents, or 5.1%, to $5.63.
ON BAYSTREET
The TSX Venture Exchange progressed 4.19 points to 593.15
All but two of the 12 Toronto subgroups had leapt into the green by the closing bell, as information technology gained 1%, industrials were stronger 0.9%, and materials were better 0.8%.
The lone laggards were energy, down 1%, while health-care doffed 0.4%.
ON WALLSTREET
The S&P 500 and NASDAQ Composite reached all-time highs on Wednesday as a rally in chip stocks helped investors shake off regulatory concerns facing Big Tech.
The Dow Jones Industrials staggered 91.17 to 27,258.02, as investors pored through disappointing earnings from Boeing and Caterpillar.
The S&P 500 climbed 14.09 to 3,019.56
The NASDAQ shot higher 70.1 points to 8,321.50, led by a 7.4% rally in Texas Instruments sparked by better-than-expected quarterly results.
Other companies like UPS and AT&T also got a boost from strong results.
UPS jumped more than 8% after posting earnings and revenue that topped analyst expectations. The company said its strong results were driven by higher demand for its Next Day Air and Ground services.
AT&T, meanwhile, gained 3.6% after the company reported net phone subscriber growth that topped estimates. The telecom giant also raised its 2019 free cash flow guidance.
But not all results were positive.
Boeing shares dropped 3.1% after the aerospace giant posted a massive loss for the previous quarter. The loss comes as costs pile up while its 737 Max jet remains grounded. The company also warned it could suspend production of its flagship jet if delays worsen.
Caterpillar shares slid 4.5% after the company reported weaker-than-expected earnings and revenue amid rising costs. The company has been under pressure as U.S. tariffs on Chinese goods remain in place while the two countries try to work out a trade deal.
Despite the mixed results from the two Dow members, the earnings season is off to a good start. About a quarter of S&P 500 companies have reported second-quarter earnings so far. Of those companies, 78% have posted a better-than-expected profit.
Facebook, Ford Motor, PayPal and Tesla were all scheduled to report quarterly results after the bell Wednesday.
Wall Street also kept a close eye on tech stocks as companies in the sector face mounting regulatory pressure.
Facebook and Amazon initially dropped after the Justice Department announced a broad antitrust review of big tech companies. The two stocks recovered to trade slightly higher.
Stocks closed higher in the previous session after media reports American and Chinese negotiators will meet for face-to-face talks next week.
Prices for the benchmark 10-year U.S. Treasury gained, lowering yields to 2.05% from Tuesday’s 2.07%. Treasury prices and yields move in opposite directions.
Oil prices slid 87 cents at $55.90 U.S. a barrel.
Gold prices gained three dollars to $1,424.70 U.S. an ounce.
