Canada’s main stock index rose on Wednesday, amid broad sectoral gains, while markets awaited fresh economic data from the U.S. for further clues on the Federal Reserve’s monetary policy path.
The TSX Composite Index leaped 235.08 points, or 1.1%, to open Wednesday at 22,277.58.
The Canadian dollar inched higher 0.10 cents to 73.45 cents U.S.
A report showed that Canada’s top property and casualty insurers have invested more than $14.30 billion in fossil fuel production, at a time when climate change is driving up risks for the industry.
One of those players, Imperial Oil, gained $1.07, or 1.2%, to $93.26, while another, IPCO, jumped 55 cents, or 2.9%, to $19.85.
Orla Mining gained nine cents, or 1.7%, to $5.30, after the miner provided second-quarter operational results.
ON BAYSTREET
The TSX Venture Exchange gained 6.18 points, or 1.1%, to 581.75.
All but one of the 12 TSX subgroups made gains midday, with gold skyrocketing 2.7%, materials soaring 2.2%, and consumer staples up 1.3%.
Only communications missed the party, sagging 0.3%.
ON WALLSTREET
The S&P 500 climbed Wednesday to a fresh record, breaking above 5,600 for the first time, as investors awaited a key U.S. inflation report.
The Dow Jones Industrials recovered 166.92 points to roll into noon hour at 39,458.57.
The much-broader index gained 30.52 points to 5,607.50, reaching a fresh record high and on track for its seventh straight day of gains.
The NASDAQ climbed 141.44 points to 18,570.73, also hitting an all-time high.
Artificial intelligence favorite Nvidia climbed 2% and helped lift chipmakers such as AMD and Broadcom higher. Shares of Apple inched 1% higher after overtaking Microsoft as the most valuable company.
Prices for the 10-year Treasury edged higher, lowering yields to 4.28% from Thursday’s 4.29%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.03 at $82.44 U.S. a barrel.
Gold prices bounced $17.20 to $2,385.10