Equities in Toronto continued their winning ways, with health-care stocks pointing in an upward direction.
The TSX climbed 114.6 points to close Wednesday at 20,491.17.
The Canadian dollar eked up 0.05 cents to 75.97 cents U.S.
Health-care stocks led the pack, as Tilray gained a dime, or 4.6%, to $2.30, while Sienna Senior Living advanced seven cents to $11.74.
In communications, Quebecor gained $1.18, or 1.2%, to $32.50, while TELUS gathered 49 cents, or 2.1%, to $24.29.
Utilities also scored big, Algonquin Power & Utilities grew 25 cents, or 2.4%, to $10.91, while Innergex grabbed 26 cents, or 2%, to $13.02.
Consumer staples brought things down, though, as Premium Brands sagged $1.56, or 1.4%, to $107.64, while Saputo lost 23 cents to $27.93.
In golds, Torex Gold took on 28 cents, or 1.4%, to $19.21, while Wesdome fell 15 cents, or 2.1%, to $7.18.
Among energy stocks, Spartan Delta dipped six cents, or 1.3%, to $4.54, while Vermilion Energy slipped 25 cents, or 1.4%, to $17.08.
ON BAYSTREET
The TSX Venture Exchange lost 2.27 points to 622.14.
All but three of the 12 TSX subgroups were higher on the day, health-care, communications and utilities each gaining 1.1%.
The three laggards were gold and consumer staples, which each dipped 0.2%, while energy fell 0.1%.
ON WALLSTREET
Stocks rose Wednesday as the corporate earnings season continued, with the Dow Jones Industrial Average registering its longest winning streak in nearly four years.
The 30-stock index gained 108.88 points to greet the closing bell Wednesday at 35,115.74, its eighth straight day of gains, its longest streak since September 2019.
The S&P 500 added 10.73 points to 4,565.71.
The NASDAQ index cleared breakeven 4.38 points to 14,358.02.
Goldman Sachs reported a miss on adjusted earnings per share and a beat on revenue Wednesday, tied to losses in real estate as well as GreenSky. Goldman had previously warned investors that the quarter would likely yield lackluster results. Shares added 1.5%. Elsewhere, shares of U.S. Bancorp hiked 6%, and J.B. Hunt added 2.2%.
Carvana shares climbed more than 28% after securing a deal to reduce roughly $1.2 billion in debt. The online auto retailer said Tuesday it will post second-quarter earnings results on Wednesday, moving the date of its report up from Aug. 3.
Other major companies such as Netflix, Tesla, IBM and United Airlines will post earnings after the close.
Thus far, the second-quarter earnings season is off to a strong start. Of the companies in the S&P 500 that have reported results, 78% have exceeded expectations. For many investors, the recent streak of gains bolsters the case for a soft-landing scenario. It’s an outlook that has gained traction after last week’s encouraging inflation data.
Prices for the 10-year Treasury were ahead, lowering yields to 3.74% from Tuesday’s 3.80%. Treasury prices and yields move in opposite directions.
Oil prices slid 49 cents to $75.26 U.S. a barrel.
Gold prices inched up $1.10 to $1,981.90 U.S. an ounce.