Canadian stocks opened little changed on Thursday, underpinned by dovish comments by U.S. Federal Reserve Chair
The S&P/TSX composite index added 17.85 points to begin Thursday at 14,674.25. The Canadian benchmark index is up more than 7% this year.
The Canadian dollar hiked
Drug maker Valeant Pharmaceuticals reported a 35% jump in cash earnings, helped by robust drug sales in
Kinross Gold Corp reported a sharp drop in first-quarter net earnings after the close on Wednesday due to weaker bullion prices but its production increased and costs edged lower.
On the economic beat, Statistics Canada reported this morning that its New Housing Price Index rose 0.2% in March, following an identical increase in February.
All but four of the 14 Toronto subgroups moved higher in the first hour, with metals and mining jumping 0.9%, industrials chugging ahead 0.4%, and materials, up 0.2%.
The four laggards were weighed mostly by energy, falling off 0.2%, while global base metals and gold each shed 0.1%.
Investors south of the border are gearing up for more of their favourite market mover:
The Dow Jones Industrial Average gained 57.87 points to 16,576.41
The S&P 500 took on 7.34 points to 1,885.55, and the NASDAQ composite index regained 17.34 points to 4,085.01.
Shares of Tesla tanked 10%. The company's earnings beat expectations Wednesday, but Tesla forecast that expenses will continue to rise as it expands into
SolarCity surged 10% after the solar panel company beat earnings estimates and subsequently received a series of analyst upgrades.
The company also announced the expansion of its partnership with the J.M. Smucker Company. The deal makes Smucker's coffee brands such as Folgers available in
Dish Network declined after the satellite provider reported lower profit for the quarter and said it added television subscribers at a slower pace than the same period last year.
Barclays got a boost in
Stocks got a late boost Wednesday from Federal Reserve chairwoman
Prices for 10-year U.S. Treasuries fell, lifting yields to 2.61% from Wednesday's 2.59%. Treasury prices and yields move in opposite directions
Oil prices demurred
Gold prices gained
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