Canada’s main stock index rose on Thursday led by gains in material and real estate shares as the market recouped some losses from its previous session, while BlackBerry shares tanked on a dour quarterly forecast.
The TSX Composite pointed higher 174.72 points, as morning became afternoon, to Thursday at 20,775.53.
The Canadian dollar restored 0.33 cents at 75.19 cents U.S.
BlackBerry dropped 8.4% after the technology company forecast fourth-quarter revenue below analysts’ expectations.
On the economic calendar, retail sales increased 0.7% to $66.9 billion in October. Sales were up in seven of nine subsectors and were led by increases at motor vehicle and parts dealers.
As well, the number of employees receiving pay and benefits from their employer decreased by 44,600 in October, offsetting an increase of 36,200 in September and following little variation in July and August.
ON BAYSTREET
The TSX Venture Exchange gained 7.56 points, or 1.4%, to 546.38.
All 12 subgroups were up by noon Thursday, led by materials, ahead 1.5%, gold, better by 1.3%, and financials, up 1.2%.
ON WALLSTREET
The Dow Jones Industrial Average jumped Thursday morning, rebounding from the index’s worst day since October as Treasury yields fell and the year-end rally resumed.
The blue chips gained 193.73 points to observe noon Thursday at 37,275.73.
The S&P 500 recouped 30.66 points to 4,729.01. Today’s improvement places the broader index a little more than 1% from a record.
The S&P 500 advance was broad-based with more than 450 names rising in the broader index. CarMax was the top gainer, up more than 7% after the used vehicle retailer posted third-quarter earnings that topped expectations.
The NASDAQ regained 125.96 points to 14,903.90.
Micron Technology jumped 7% after the memory chipmaker posted quarterly results that beat expectations, and offered current-quarter guidance that exceeded analysts’ consensus forecasts. Salesforce gained more than 2% following an upgrade from Morgan Stanley.
From their late October closing lows through Tuesday, the Dow and S&P 500 both jumped more than 15%. The NASDAQ Composite surged roughly 19% over the same period.
Prices for the 10-year Treasury paled, raising yields to 3.88% from Wednesday’s 3.86%. Treasury prices and yields move in opposite directions.
Oil prices fell 73 cents to $73.49 U.S. a barrel.
Gold prices jumped $6.60 at $2,054.30.
Equities Recover from Thursday Pasting