Equities in Toronto hit a record high on Wednesday, with mining stocks leading the advance, buoyed by renewed U.S. rate cut optimism and robust earnings from major U.S. banks that signaled strength in the financial sector.
The TSX was ahead 294.97 points, or 1%, to kick back for lunch Wednesday at 30,648.58.
The Canadian dollar poked ahead 0.06 cents at 71.26 cents.
Gains were broad-based, with all major sectors trading in positive territory.
Building materials firm Goodfellow reported third-quarter net earnings of $3.7 million, down from $5.8 million a year earlier.
Goodfellow shares stepped back four cents to $11.25.
Information technology stocks surged 2.2%, following upbeat third-quarter results from ASML, the world's largest supplier of computer chip-making equipment.
On matters economic, Statistics Canada reported manufacturing sales decreased 1.0% in August, driven largely by lower sales in the transportation equipment and food
Wholesale sales declined 1.2% to $85.4 billion in August.
New motor vehicle sales in Canada increased by 3.7% in September 2025 compared to the previous year, according to data from DesRosiers.
Year-to-date sales were up 4.5%, with 1.47 million units sold.
This September increase was significant, but some analysts expected a slower sales rate for the end of the year due to softer labor markets.
ON BAYSTREET
The TSX Venture Exchange edged up 0.92 points to 1,018.86.
All but two 12 TSX subgroups were higher Wednesday, led by gold, better by 3.1%, materials, up 2.8%, and information technology, ahead 1.7%.
The two laggards were health-care, sagging 0.5%, and telecoms, off 0.2%.
ON WALLSTREET
Stocks rose Wednesday as a slate of stronger-than-anticipated earnings overshadowed worries about growing trade tensions with China.
The Dow Jones Industrials soared 112.64 points to 46,383.10.
The S&P 500 gained 32.81 points to 6,677.12
The tech-heavy NASDAQ was hoisted 163.93 points to 22,683.63.
Bank of America shares jumped 4% after the company posted third-quarter earnings and revenue that beat analyst expectations, thanks to strong investment banking revenue. Morgan Stanley also posted better-than-expected earnings, sending its shares higher by 6%.
Those reports come after a spate of better-than-expected reports from Goldman Sachs and Wells Fargo, among others, on Tuesday.
Still, Wall Street veteran Art Hogan believes that stocks will likely trade sideways from here, wavering near all-time highs as long as trade war uncertainty persists. The chief market strategist at B. Riley Wealth Management also said the U.S. government shutdown is another headwind for the market.
Trade fears led to a tumultuous session on Tuesday. The S&P 500 attempted a comeback, but ultimately closed lower after President Donald Trump threatened China with a cooking oil embargo late in the session as retaliation for Beijing not buying U.S. soybeans. On Tuesday, the benchmark was up as much as 0.4% and down as much as 1.5%.
Prices for the 10-year Treasury slumped Wednesday, raising yields back to Tuesday’s 4.03%. Treasury prices and yields move in opposite directions.
Oil prices doffed 24 cents to $58.46 U.S. a barrel.
Gold prices took on $41.60 to $4,205 U.S. an ounce.
