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TSX Opens Higher on Energy Hikes
The TSX Composite Index recovered 111.41 points to opened Thursday at 21,628.31.
The Canadian dollar edged up 0.07 cents to 73.03 cents U.S.
In corporate news, Canadian carrier WestJet Airlines, backed by Onex Corp, said it was working to resume normal operations after the union representing its maintenance engineers rescinded its strike notice. Both parties have agreed to return to the bargaining table. Onex shares gained 58 cents to $91.96.
Imperial Oil fired out of the blocks Thursday, gaining $2.07, or 2.3%, to $92.07, while Vermilion Energy hiked 32 cents, or 2.1%, to $15.51.
ON BAYSTREET
The TSX Venture Exchange backtracked 0.78 points to 571.10.
All 12 subgroups gained ground, with gold leaping 1.6%, while materials and energy stocks each jumped 1.3%.
ON WALLSTREET
The S&P 500 climbed on Thursday to briefly pass 5,500 for the first time ever, as the artificial intelligence-driven rally in Nvidia showed no signs of slowing down.
The Dow Jones Industrials popped 147.65 points to 38,982.51.
The much-broader index gained 22.46 points to 5,495.69.
The NASDAQ faded 4.3 points, to 17,857.93.
Nvidia rose 1%, building on the previous session’s gains that cemented the chipmaker as the most valuable public company. Shares of the de facto market leader have climbed more than 180% this year as the AI boom continues to boost equities even as consumers show slowing signs of spending and some potential economic weakness.
Darden Restaurants edged up 2% after topping earnings expectations, while Trump Media & Technology Group sank 10%, building on Tuesday’s loss.
Fresh economic data released Thursday contributed to some recent signs of a slowing economy. That data included higher-than-expected weekly jobless claims and poor housing starts and permits. A reading of the Philadelphia fed Manufacturing Index also came in below expectations.
Prices for the 10-year Treasury sagged, raising yields to 4.28% from Tuesday’s 4.21%. Treasury prices and yields move in opposite directions.
Oil prices gained 70 cents to $82.27 U.S. a barrel.
Gold prices rose $20.30 to $2,367.20
