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TSX Triumphs At Noon
(MENAFN- Baystreet)
Canada's main stock index rose on Thursday, with miners leading broader gains, after U.S. Fed Governor Christopher Waller signaled patience on interest rates, prompting markets to pull back bets for a September rate hike.
The TSX soared 458.52 points, or 1.3%, to pause for lunch at 36,550.03.
The Canadian dollar leaped 0.30 cents to 72.53 cents.
Canadian miners rose with Discovery Mining capturing 60 cents, or 4.8% to $13.12, Lundin Gold added 16 cents to $35.58, while Barrick Mining was up $1.50, or 2.5%, to $62.61.
Thomson Reuters rose $5.50, or 3.8%, to $152.07, tracking gains in U.S. software stocks.
ON BAYSTREET
The TSX Venture Exchange gained 11.09 points, or 1.2%, to 973.59.
All but three of the 12 TSX subgroups were higher, led by gold, brighter 3.5%, while materials and information technology, each climbing 2.8%.
The three laggards were health-care, fading 0.4%, while utilities were down 0.2%, and energy retreated but 0.01%.
ON WALLSTREET
Equities moved higher on Thursday, while Treasury yields pulled back, as investors grew hopeful that the Federal Reserve may leave interest rates unchanged this month.
The Dow Jones Industrials surged 627.33 points, or 1.2%, to reach noon EDT Thursday at 53,689.28
The S&P 500 advanced 76.91 points, or 1%, to 7,743.51.
The NASDAQ Composite jumped 356.07 points, or 1.4%, to 26,573.90.
The benchmark 10-year Treasury note yield last traded around 4.75%, seeing declines after Federal Reserve Governor Christopher Waller said he'd be“inclined to support” holding rates steady barring any surprises in upcoming inflation data. On Wednesday, the yield hit its highest level since November 2023.
Snowflake shares were a bright spot, popping more than 19% after the company reported better-than-expected second-quarter earnings and revenue as well as issued strong guidance.
Conversely, shares of Broadcom dropped 4% following its latest quarterly results, with the company offering a disappointing revenue forecast for the fiscal fourth quarter.
Prices for the 10-year Treasury gained, lowering yields 4.75% from Wednesday's 4.79%. Treasury prices and yields move in opposite directions.
Oil prices acquired 73 cents to $91.74 U.S. a barrel.
Gold prices gained $135.30 to $4,549 U.S. an ounce.
Canada's main stock index rose on Thursday, with miners leading broader gains, after U.S. Fed Governor Christopher Waller signaled patience on interest rates, prompting markets to pull back bets for a September rate hike.
The TSX soared 458.52 points, or 1.3%, to pause for lunch at 36,550.03.
The Canadian dollar leaped 0.30 cents to 72.53 cents.
Canadian miners rose with Discovery Mining capturing 60 cents, or 4.8% to $13.12, Lundin Gold added 16 cents to $35.58, while Barrick Mining was up $1.50, or 2.5%, to $62.61.
Thomson Reuters rose $5.50, or 3.8%, to $152.07, tracking gains in U.S. software stocks.
ON BAYSTREET
The TSX Venture Exchange gained 11.09 points, or 1.2%, to 973.59.
All but three of the 12 TSX subgroups were higher, led by gold, brighter 3.5%, while materials and information technology, each climbing 2.8%.
The three laggards were health-care, fading 0.4%, while utilities were down 0.2%, and energy retreated but 0.01%.
ON WALLSTREET
Equities moved higher on Thursday, while Treasury yields pulled back, as investors grew hopeful that the Federal Reserve may leave interest rates unchanged this month.
The Dow Jones Industrials surged 627.33 points, or 1.2%, to reach noon EDT Thursday at 53,689.28
The S&P 500 advanced 76.91 points, or 1%, to 7,743.51.
The NASDAQ Composite jumped 356.07 points, or 1.4%, to 26,573.90.
The benchmark 10-year Treasury note yield last traded around 4.75%, seeing declines after Federal Reserve Governor Christopher Waller said he'd be“inclined to support” holding rates steady barring any surprises in upcoming inflation data. On Wednesday, the yield hit its highest level since November 2023.
Snowflake shares were a bright spot, popping more than 19% after the company reported better-than-expected second-quarter earnings and revenue as well as issued strong guidance.
Conversely, shares of Broadcom dropped 4% following its latest quarterly results, with the company offering a disappointing revenue forecast for the fiscal fourth quarter.
Prices for the 10-year Treasury gained, lowering yields 4.75% from Wednesday's 4.79%. Treasury prices and yields move in opposite directions.
Oil prices acquired 73 cents to $91.74 U.S. a barrel.
Gold prices gained $135.30 to $4,549 U.S. an ounce.
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