TSX Still Positive
Canadian stocks climbed on Thursday as falling bond yields and rising commodity prices boosted investor sentiment, while markets also weighed evolving U.S. tariff policies.
The TSX Composite Index surged 152.89 points midday Thursday to 24,625.57.
The Canadian dollar inched 0.10 cents lower to 71.97 cents U.S.
Teck Resources beat first-quarter expectations, helped by higher commodity prices and copper sales volumes. Teck shares prospered $2.23, or 4.6%, to $50.60.
Elsewhere, electronics manufacturer Celestica accumulated $8.39, or 6.9%, to $130.88.
Healthcare stocks advanced, buoyed by cannabis producer Tilray Brands, which took on a penny, or 1.6%, to 62 cents.
On the economic agenda, Statistics Canada reports 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 49,000 (-0.3%) in February, following an increase of 14,400 (+0.1%) in January.
On a year-over-year basis, payroll employment was up 124,300 (+0.7%) in February.
ON BAYSTREET
The TSX Venture Exchange popped 9,57 points, or 1.5%, to 645.
All but one of the 12 subgroups were higher by noon hour EDT, led by health-care, improving 2.3%, information technology, popping 2.2%, and materials, better by 1%.
Only consumer staples failed to move into the green, slumping 0.8%.
ON WALLSTREET
Stocks popped Thursday thanks to strong gains in megacap tech names, as investors continued to look for signs of progress on the global trade front.
The Dow Jones Industrials soared 308.68 points to 39,915.25
The S&P index climbed 75.97 points, or 1.4%, to 5,451,83
The NASDAQ Composite climbed 319.87 points, or 1.9%, to 17,027.92.
Shares of Nvidia, Meta, Amazon, Tesla and Microsoft each were trading about 2% higher. Tech has been rocked recently as the White House’s increasingly confrontational trade stance, particularly against China, dents sentiment on the sector.
The S&P 500 has slipped 4% since April 2, the day Trump announced his new tariff policy on U.S. imports. Since then, the Dow has declined 5.7%, while the NASDAQ has lost 3.6%.
China said overnight that there were no trade talks taking place with the U.S., with Ministry of Commerce spokesperson He Yadong adding that “all sayings” regarding progress on bilateral talks should be dismissed. He also called for the cancelation of “unilateral” tariffs.
Those remarks came after President Donald Trump said he is willing to take a less confrontational approach toward trade talks with Beijing.
Further, Treasury Secretary Scott Bessent said Wednesday that the U.S. has the “opportunity for a big deal” on trade. Chinese imports are subject to a U.S. tariff of 145%.
Prices for the 10-year Treasury gained ground Thursday, lowering yields to 4.33% from Wednesday’s 4.38%. Treasury prices and yields in opposite directions.
Oil prices inched higher two cents to $62.29 U.S. a barrel.
Prices for gold jumped $48.80 to $3,342.90 U.S.
