Gold, techs take reins
Equity markets in
The S&P/TSX composite index moved forward 78.01 points to close Wednesday at 15,215.19. The index is up about 11% this year.
The Canadian dollar gained
The gold-mining sector jumped, with Goldcorp rising
Financials advanced as Royal Bank of Canada climbed
Shares of energy producers declined, with Canadian Natural
In corporate news,
The stock was down
Federal Finance Minister
Real estate company
According to the
In the economic docket,
All but two of the 14 Toronto subgroups were positive, with gold soaring 1.5%, information technology clicking 1.7% higher, and the materials sector 0.9% to the good.
The two laggards were health-care, down 0.7%, and the metals and mining sector, listing 0.04% lower.
After two days of selling, investors hit the "buy" button once again Wednesday, and thanked the U.S. Federal Reserve for the rosier outlook.
The Dow Jones Industrials hiked 78.99 points to 16,985.61
The S&P 500 inched up 9.12 points to 1,972.83, and the NASDAQ composite advanced 27.57 points to 4,419.03.
Shares in Alcoa rose after kicking off earnings season by beating analyst estimates.
Overall, earnings for the companies in the S&P 500 are expected to be up 4.9% in the second quarter, compared with the same period last year, according to FactSet.
Shares in Gigamon were down again Wednesday after plunging a whopping 33% on Tuesday. The technology company had lowered its revenue guidance for the second quarter.
The Container Store was also suffering -- down around 10% -- after reporting sluggish same-store sales.
Citigroup is reported to be close to agreeing to pay
J P Morgan paid
The latest news from the Fed caused stocks to jump. The minutes from their latest meeting seemed to assuage fears about any precipitous interest rate increases.
The Fed could end its bond buying program as soon as October, assuming the economy continues to perform as officials expect, according to minutes from the central bank's June policy meeting.
The Fed has been shrinking its monthly bond purchases since January and is widely expected to complete the program this year. But the Fed had not mentioned a specific month until now.
Prices for 10-year U.S. Treasuries gained, lowering yields to 2.55% from Tuesday's 2.56%. Treasury prices and yields move in opposite directions.
Oil prices skidded
Gold prices vaulted
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