TSX Climbs to Record High… Again

*CORRECTS TSX CLOSING FIGURE)

Equities in Canada’s biggest centre reached yet another all-time high Wednesday, on the backs of energy and money stocks.

The TSX Composite Index gained 93.12 points to close Wednesday at 28,433.

The Canadian dollar gathered 0.05 cents to 72.33 cents U.S.

Energy stocks ruled the roost Wednesday, with Baytex Energy flying eight cents, or 2.7%, to $3.01, while Canadian Natural Resources added $1.09, or 2.6%, to $43.25.

RBC analysts' profit estimates as it set aside smaller-than-expected loan loss provisions that included releases in its wealth management segment. Its shares galloped $11.33, or 6%, to $201.72.

National Bank of Canada experienced an increase in third-quarter profit, but its shares collapsed $5.63, or 3.7% to $144.78.

Canadian banks have been expanding their wealth management segment due to stable fee-based revenue, diversifying from interest income tied to shifting rates and credit risks.

Dollarama dipped $7.49, or 3.9%, to $184.58. The discount store operator's quarterly sales surpassed market estimates, driven by higher demand as shoppers looked for affordable household supplies and groceries. Magna International dropped 45 cents to $63.73.

Canada Goose's controlling shareholder Bain Capital has received take-private bids at a valuation of about $1.4 billion.

Shares of the luxury goods maker climbed $2.67, or 15.9%, to $19.48.

In telecoms, Quebecor hiked $1.15, or 2.8%, to $41.76, while Cogeco Communications tacked on 75 cents, or 1.2%, to $64.29.

In materials, Ivanhoe Mines docked 39 cents, or 3.3%, to $11.61, while Orla Mining let go of 15 cents, or 3.3%, to $14.79.

Gold stocks lost ground, with Lundin Gold off $1.59, or 1.9%, to $82.59, while Centerra Gold eased nine cents to $10.79.

ON BAYSTREET

The TSX Venture Exchange inched higher 0.79 points to 813.23.

Eight of the 12 TSX subgroups reached higher, as energy leaped 1.7%, financials took on 1.4%, while telecoms hiked 1%.

The four laggards were weighed most by consumer discretionary issues, which lost 1%, while materials waned 0.7%, and gold dipped 0.6%.

ON WALLSTREET

The S&P 500 ticked higher on Wednesday as investors turned their eyes to Nvidia earnings, which could be a make-or-break moment for the bull market.

The Dow Jones Industrials leaped 147.16 points to close Wednesday at 45,505.23.

The broader index gained 15.46 points to 6,481.40. Nvidia, which accounts for roughly 8% of the S&P 500, has the biggest weight in the broad market index

The NASDAQ marched ahead 45.87 points to 21,590.14.

Some individual names managed strong gains despite the muted action in the broader market. MongoDB popped 37% after the developer data platform topped Wall Street’s expectations. Okta jumped 1% after its quarterly results and full-year forecast beat consensus estimates.

Both companies cited the demand coming from companies developing artificial intelligence platforms for the strong results. That bodes well for Nvidia, which was to release its financial results after the closing bell on Wednesday.

The chipmaker has beaten earnings expectations in 11 of past 12 quarterly reports, but the stock has had a downbeat post-earnings reaction four of those times.

Prices for 10-year Treasury lost ground Wednesday scaling down yields to 4.24% from Tuesday’s 4.26%. Treasury prices and yields move in opposite directions.

Oil prices increased 62 cents to $63.87 U.S. a barrel.

Gold prices surged $16.30 at $3,449.40 U.S. an ounce.