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 vaulted 283.51 points, to conclude Wednesday at 30,637.12.
The Canadian dollar was flat at 71.20 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 surged 21 cents, or 1/9%, to $11.50.
Information technology stocks surged 2.2%, following upbeat third-quarter results from ASML, the world's largest supplier of computer chip-making equipment.
Resource stocks ruled the day, with Endeavour Silver hiking $1.12, or 9.2%, to $13.34, while SSR Mining surged $2.53, or 7.6%, to $35.71.
Among gold issues, Aya Gold shone brighter $2.27, or 13.9%, to $18.61, while Equinox Gold strengthened $1.07, or 6.4%, to $17.74.
Among tech stocks, Bitfarms flew 84 cents, or 10.2%, to $9.10, while Celestica spiked $31.42, or 9%, to $379.63.
In telecoms, Quebecor sputtered $2.46, or 9%, to $379.63, while TELUS docked six cents to $21.19.
Energy plays also had a rough time of it, with Imperial Oil falling $2.66, or 2.2%, to $120.76, while Athabasca Oil dropped 14 cents, or 2.2%, to $6.40.
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 popped 9.67 points, or 1%, to 1,027.61.
All but two 12 TSX subgroups were higher Wednesday, led by gold, better by 3.3%, materials, up 3.2%, and information technology, ahead 2.2%.
The two laggards were telecoms, off 0.8%, and energy, sinking 0.3%/
ON WALLSTREET
The S&P 500 broke back into the green Wednesday, buoyed by Bank of America and Morgan Stanley’s blockbuster earnings reports. Ongoing concerns about U.S.-China trade negotiations and a government shutdown weighed on investor sentiment but took a backseat to enthusiasm over a better-than-expected start to earnings season.
The Dow Jones Industrials 17.15 points, however, to 46,253.31.
The S&P 500 gained 26.75 points to 6,671.06
The tech-heavy NASDAQ was hoisted 148.38 points to 22,670.08.
High-flying AI stock Nvidia rolled over to trade 0.5% lower after rising as much as 2.7%.
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 to 4.04% from Tuesday’s 4.03%. Treasury prices and yields move in opposite directions.
Oil prices doffed 21 cents to $58.49 U.S. a barrel.
Gold prices jumped $60.60 to $4,224.00 U.S. an ounce.
