TSX Keeps Reaching Higher

(MENAFN- Baystreet)

Stocks on the TSX hit yet another all-time record Wednesday, as tech prosperity propelled the index higher.
The TSX Composite Index popped 350.79 points, or 1.3%, to close Wednesday at 27,920.87.
The Canadian dollar gained 0.17 cents at 72.79 cents U.S.
Tech firms led the parade as Shopify popped $37.04, or 21.2%, to $208.34. Bitfarms strengthened six cents, or 3.6%, to $1.73.
Gold was on the podium, too, with Iamgold towering 47 cents over Tuesday's close, or 4.6%, to $10.76, while Lundin Gold muscled higher $3.41, while 4.9%, to $72.53.
In consumer discretionary stocks, Pet Valu Holdings grabbed 38 cents, or 1.1%, to $36.31, while Restaurant Brands International picked up 78 cents to $94.72.
Health-care issues did not fare so well as Bausch Health Companies slipped 28 cents, or 3.4%, to $7.92.
Telecoms were on the negative side, with Rogers dumping 88 cents, or 1.9%, to $45.50, while BCE sank 60 cents, or 1.9%, to $31.85.
Energy stocks also disappointed, with Kelt Exploration gave back 15 cents, or 2.2%, to $6.83, while Parex Exploration lost 39 cents, or 2.4%, to $15.93.
ON BAYSTREET
The TSX Venture Exchange eked higher 2.86 points to 786.54.
The 12 TSX subgroups were evenly split, with information technology sprinting 4.9%, gold, up 1%, and consumer discretionary climbing 0.5%.
The half-dozen laggards were weighed most by telecoms, down 1.3%, energy, sagging 1%, and health-care, off 0.9%.
ON WALLSTREET
Stocks rose Wednesday, thanks to a jump in Apple, as investors analyzed the latest batch of corporate earnings following a negative session on Wall Street.
The Dow Jones Industrial Average gained 81.81 points to conclude Wednesday at 44,193.55.
The S&P 500 strengthened 45.87 points to 6,345.06
The NASDAQ zoomed 252.87 points, or 1.2%, to 20,169.42
Apple climbed 5% after a White House official confirmed the iPhone maker is going to boost its investment in domestic manufacturing by $100 billion. That brings its total U.S. investment to $600 billion over the next four years.
Those moves follow a losing day for the market, marking the S&P 500's fifth down day of the last six and the Dow's sixth negative session of the past seven.
Earnings season continues with companies reporting strong results, with about 81% of S&P 500 companies that have reported to date trouncing expectations, according to FactSet.
Among the day's outperformers, McDonald's closed nearly 3% higher after the fast-food restaurant chain's second-quarter results beat the Street's estimates on the top and bottom lines. Same-store sales grew at the fastest pace in almost two years. Arista Networks also rallied 17% on a stronger-than-expected report.
On the flip side, Snap shares tumbled 17% after revenue came in slightly below expectations, while Advanced Micro Devices fell more than 6% after posting adjusted earnings per share that missed estimates.
Prices for 10-year Treasury fell slightly, pushing yields up to 4.23% from 4.20%. Treasury prices and yields move in opposite directions.
Oil prices sank $1.09 to $64.07 U.S. a barrel.
Gold prices dipped $1.50 at $3,433.70 U.S. an ounce.

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