Canada's main stock index climbed on Thursday, buoyed by Nvidia's blockbuster earnings, while investors digested the long-awaited U.S. jobs report.
The TSX hiked 271.3 points to begin Thursday at 30,549.71.
The Canadian dollar skidded 0.24 cents to 71.18 cents U.S.
In corporate news, Vizsla Silver announced the pricing of $250 million convertible senior notes. Canadian shares of the firm began the day down 76 cents, or 11.7%, to $5.81.
On the economic scene, Statistics Canada’s industrial product price index increased 1.5% month over month and gained 6.0% year over year., while its raw materials price index increased 1.6% month over month and rose 5.8% year over year.
ON BAYSTREET
The TSX Venture Exchange sparked 16.79 points, or 1.9%, to 890.24.
All 12 TSX subgroups were in the green in the first hour Friday, led by information technology up 2.6%, while energy and financials hiked 0.9% each.
ON WALLSTREET
Stocks surged on Thursday after a blockbuster quarterly report and forecast from Nvidia restored confidence in the AI trade driving the bull market.
The Dow Jones Industrials index soared 582.77 points, or 1.3%, to 46,721.54
The S&P 500 jumped 121,37 points, or 1.8%, to 6,763.53.
The NASDAQ popped 555.96 points to 23,120.19.
Nvidia shares leaped 4% after the chipmaker released its highly anticipated quarterly results, which beat Wall Street’s earnings and revenue expectations.
The market-moving company also gave a stronger-than-expected fourth-quarter sales forecast, with CEO Jensen Huang saying demand for its current-generation Blackwell chips are “off the charts.” He also rejected the idea of an AI bubble.
Nvidia’s upbeat guidance likely lifted investor sentiment around the AI trade, which has weakened in recent sessions amid fears about elevated valuations and circular financing.
The results boosted a slew of stocks across the AI ecosystem in the after-hours session, including chipmakers Advanced Micro Devices and Broadcom and power infrastructure companies such as Eaton.
Stocks also got a small boost following the release of a better-than-expected U.S. jobs report. The release shows the economy added 119,000 jobs in September, beating expectations. The report was delayed due to the U.S. government shutdown. However, most investors were looking beyond the stale data release.
Prices for the 10-year Treasury fell back a bit, raising yields to 4.11% from Wednesday’s 4.13%. Treasury prices and yields move in opposite directions.
Oil prices moved upward 44 cents to $59.88 U.S. a barrel.
Gold prices rose $10.50 to $4,093.30 U.S. an ounce.
Related Stories
