Equities in Canada’s largest centre stayed firmly in the green, powered by gains in energy and consumer stocks.
The TSX gained 61.83 points to make their way into Wednesday noon hour at 17,614.29.
The Canadian dollar regained 0.2 cents to 77.76 cents U.S.
Energy stocks gushed Wednesday morning, with MEG Energy popping 32 cents, or 7.5%, to $4.57, while Crescent Point Energy picked up 20 cents, or 7.1%, to $3.00.
Among consumer discretionary stocks, Magna International rocketed $7.27, or 8.5%, to $92.94, while Linamar Corp. grabbed hold of $1.37, or 2%, to $69.04.
Materials also soared, with Western Forest Products hiking $3.01, or 3.7%, to $85.07, while Canfor Corp. spiked a dollar, or 4.5%, to $23.25.
Tech shares slumped, though, with Absolute Software sinking 61 cents, or 3.9%, to $15.23, while Shopify faded $63.84, or 3.9%, to $1,585.39.
Among consumer staples, North West Company surrendered 41 cents, or 1.2%, to $33.21, while Alimentation Couche-Tard dipped 27 cents to $44.31.
Concerning things macroeconomic, Statistics Canada reported this country’s gross domestic product grew 0.4% in October as 16 of 20 industrial sectors were up in the month.
ON BAYSTREET
The TSX Venture Exchange leaped 9.77 points, or 1.2%, to 839.74
All but two of the 12 TSX subgroups progressed in the last hour leading to up to lunch, energy propelled ahead 3.3%, consumer discretionary better by 1.9%, and materials up 1.4%.
The two dissidents were information technology, sliding 2.4%, and consumer staples off 0.3%.
ON WALLSTREET
U.S. stocks edged higher on Wednesday even after President Donald Trump criticized the new COVID-19 relief package, a move that could delay the deployment of funds to struggling Americans.
The Dow Jones Industrials muscled up 225.11 points midday at 30,240.62
The S&P 500 regained 17.35 points to 3,704.61. Cyclical sectors — pockets of the market most sensitive to an economic recovery — led the gains. Energy increased 3.2%, and financials rose 1.9%, to be the two best-performing groups.. Materials and industrials were also up.
The NASDAQ dropped 4.42 points from Tuesday’s all-time record to 12,803.50, as tech heavyweights Amazon, Apple and Microsoft dipped.
Travel-related stocks, which sold off earlier this week, rebounded as concerns about a new coronavirus strain from the U.K. eased. United Airlines and Delta climbed more than 3% each, while Carnival and Norwegian Cruise Line jumped both 6%. Health experts said the vaccines in production would be effective against the new variant.
On Wednesday, Pfizer and BioNTech announced a second deal with the U.S. government to supply an additional 100 million doses of their jointly-developed Covid-19 vaccine. The deal brings the total number of doses to 200 million, which will be delivered to the U.S. by the end of July next year.
Late on Tuesday, Trump called the new $900-billion COVID relief package an unsuitable “disgrace” and admonished lawmakers to alter the bill’s content, especially the amount allocated for direct payments to Americans.
Trump did not threaten to veto the legislation but he asked to be sent a “suitable bill or else the next administration will have to deliver a COVID relief package.”
On the data front, U.S. jobless claims totaled 803,000 during the week ending Dec. 19, better than an estimate of 888,000 according to economists polled by Dow Jones. However, core durable goods and personal income both fell short of expectations in November.
Prices for the 10-Year Treasury lost sharply, raising yields to 0.97% from Tuesday’s 0.92%. Treasury prices and yields move in opposite directions.
Oil prices restored 93 cents to $47.95 U.S. a barrel.
Gold prices regained $5.40 to $1,875.70.
