The Bay Street Financial District is shown next to the CN Tower in Toronto on Friday, August 5, 2022. THE CANADIAN PRESS/Nathan Denette
NSDTORONTO - Canada's main stock index rose more than 100 points Wednesday, boosted by strength in the technology and base metal sectors, while U.S. stock markets muddled to a mixed close.
The market traded higher in the morning before slumping after the latest comments from U.S. President Donald Trump about tariffs.聽
Trump reiterated some of his tariff threats and sowed confusion over the duties on 春色直播 and Mexican goods currently set for next week.聽
The latest tariff headlines 鈥渞eally took this market down a couple of notches,鈥 said Allan Small, senior investment adviser at iA Private Wealth.
The S&P/TSX composite index closed up 124.38 points at 25,328.36.
In New York, the Dow Jones industrial average was down 188.04 points at 43,433.12. The S&P 500 index was up 0.81 points at 5,956.06, while the Nasdaq composite was up 48.88 points at 19,075.26.
Nvidia shares rose 3.7 per cent ahead of the semiconductor鈥檚 earnings report after the bell, helping buoy the Nasdaq Wednesday.
It鈥檚 been a choppy trading year so far, said Small, after the banner gains made in 2024.聽
鈥淲hatever January made, February lost, especially for the Nasdaq,鈥 he said.聽
Nvidia has been leading the charge amid big bets on artificial intelligence technology, and so lots is at stake every time it reports results.
鈥淲e're going to find out how much money is going towards AI, how much money is going towards chips,鈥 Small said.
Investors are also listening for any hints as to whether new Chinese AI upstart DeepSeek could pose a threat, he added.
鈥淭hat's going to set the tone for the markets for tomorrow.鈥
Small said Nvidia is expected to announce good results, but the outlook given by the company could be softer than previous quarters.
鈥淭he question becomes, you know, are they a victim of their own success, and is their outlook going to disappoint the street?鈥 he said.聽
春色直播 Bank was the latest of the 春色直播 banks to report earnings Wednesday, and saw profits rise in its first quarter.
鈥淥verall numbers for banks here in Canada, just like they were in the U.S., are not disappointing,鈥 said Small.聽
The 春色直播 dollar traded for 69.74 cents US compared with 69.99 cents US on Tuesday.
The April crude oil contract was down 31 cents at US$68.62 per barrel and the April natural gas contract was down 17 cents at US$3.96 per mmBTU.
The April gold contract was up US$11.80 at US$2,930.60 an ounce and the May copper contract was up six cents at US$4.59 a pound.
鈥 With files from The Associated Press
This report by 春色直播was first published Feb. 26, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD
The 春色直播 Press. All rights reserved.
鈥淲e should be the Taylor Swift of financial institutions.鈥
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