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Equities in Toronto kept their heads above water at noon hour Wednesday, taking in some of the good vibes from U.S. inflation data.
The TSX forged ahead 22.21 points to move into Wednesday afternoon at 24,945.22, a new all-time high.
The Canadian dollar slid 0.13 cents to 71.58 cents U.S.
Suncor Energy raised its quarterly dividend after the integrated oil and gas firm beat estimates for third-quarter profit on higher oil production and demand for refined products. Suncor took on $1.66, or 3.1%, to $54.82.
Canada’s technology sector rose 1.2%, after it hit a record high in the previous session following Shopify’s strong quarterly results. Shopify greeted noon EST Wednesday ahead $4.44, or 2.9%, to $156.70.
Among individual stocks, Loblaw Companies’ shares fell $4.20, or 2.2%, to $183.19, after the retailer missed third-quarter revenue estimates, hurt by a slowdown in demand.
Finning International dropped $4.74, or 11.4%, to the bottom of the index at $36.98, after the Caterpillar dealer also missed its third-quarter revenue estimates.
ON BAYSTREET
The TSX Venture Exchange inched forward 1.03 points to 598.73.
All but two of the 12 subgroups were in the red, however, midday. Materials, health-care and consumer staples each lost 0.5%.
The two gainers were information technology, ahead 1.7%, and consumer discretionary stocks, up 0.4%.
ON WALLSTREET
The Dow Jones Industrial Average resumed its upward progress Wednesday as investors look to keep a postelection rally going after a key inflation report was in line with expectations.
The 30-stock index recovered 179.54 points to 44,090.82.
The S&P 500 recaptured 6.94 points to 5,990.93.
The NASDAQ Composite slid 53.42 points to 19,227.95.
Tesla, which has been among the biggest winners following the election, was up again by 3%.
The October consumer price index accelerated a tad to a 2.6% annual rate, matching the consensus estimate from economists polled by Dow Jones. Core prices, which exclude food and energy from the reading, rose 3.3% last month, which also matched estimates.
Prices for the 10-year Treasury gained ground, lowering yields to 4.41% from Tuesday’s 4.43%. Treasury prices and yields move in opposite directions.
Oil prices regained 15 cents to $68.27 U.S. a barrel.
Prices for gold dipped $9.60 an ounce to $2,596.70 U.S.
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