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TSX Prospers, Though off Daily Highs
The TSX Composite Index gained 100.51 points to close Thursday at 23,227.49.
The Canadian dollar handed back 0.03 cents at 74.16 cents U.S.
Canadian Imperial Bank of Commerce's rose $4.05, or 5.5%, to a two-year high of $77.55, after the lender beat third-quarter profit estimates, boosting the financial sector, which has 29% weighting on the index, by 0.9%.
Celestica gained 78 cents, or 1.2%, to $68.18. Elsewhere in techs, Kinaxis jumped $9.52, or 7.1%, to $143.47.
In the gold sector, Equinox Gold climbed 25 cents, or 3.3%, to $7.76, while Kinross traveled higher 27 cents, or 2.3%, to $12.12.
Energy stocks also did well, with CEU Energy Solutions taking on 23 cents, or 2.9%, to $8.05, while Baytex acquired 11 cents, or 2.3%, to $4.95.
Consumer discretionary stocks let the ship down, however, with Dollarama sinking $2.46, or 1.8%, to $133.98, while Spin Master dipped 52 cents, or 1.6%, to $31.87.
In the real-estate sector, Choice Properties REIT units subsided 29 cents, or 1.9%, to $14.64, while Riocan REIT fell 38 cents, or 1.9%, to $18.76.
In communications, Cogeco Communications faltered 59 cents to $64.30, while TELUS Corporation let go of eight cents to $21.60.
On the economic slate, Statistics Canada reported the number of employees receiving pay and benefits from their employer—measured as "payroll employment" in the Survey of Employment, Payrolls and Hours—decreased by 47,300 (-0.3%) in June.
ON BAYSTREET
The TSX Venture Exchange inched higher 2.2 points to 567.92.
Seven of the 12 TSX subgroups were positive, with gold up 1.5%, information technology vaulting 1.1%, and energy bounced 1.1%.
The five laggards were weighed most by consumer discretionary stocks, stumbling 0.5%, while real-estate and communications each wobbled 0.4%.
ON WALLSTREET
The Dow Jones Industrials rose to a record high Thursday, as Wall Street tried to resume its comeback from a steep selloff earlier this month.
The 30-stock index galloped 243.96 points to conclude Thursday at a new record of 41,335.38.
The S&P 500 lopped off 0.18 points to 5,592.
The tech-heavy NASDAQ jettisoned 39.6 points to 17,516.43.
Wall Street’s strong gains come despite a decline in artificial intelligence darling Nvidia, which fell 6% after posting its latest earnings Wednesday afternoon. In its fiscal second quarter, the AI chipmaker exceeded expectations on the top and bottom lines, and issued a rosy current-quarter sales outlook.
Economic data released Thursday lent support to the stock market. Weekly jobless claims fell from the prior week, further easing recession concerns. In addition, second-quarter gross domestic product was revised higher to 3% growth from an initial 2.8% rate.
Prices for the 10-year Treasury inched lower, raising yields to 3.88% from Wednesday’s 3.84%. Treasury prices and yields move in opposite directions.
Oil prices regained $1.43 to $75.95 U.S. a barrel.
Gold prices hiked $17.20 to $2,552.50.
