Lifted by industrial and tech shares, the TSX rose on Wednesday in a broad gain. Gold prices rose as demand rises for the haven commodity in the face of the escalating US-China trade war.
US markets rose despite tepid quarterly figures from Alphabet (NASDAQ:GOOG) and chipmaker AMD (NASDAQ:AMD) led the tech sector lower, down 6.2 per cent. A decline in Apple (NASDAQ:AAPL), who was down 0.14 per cent also put pressure on the market. Alphabet shares lost 6.9 per cent after the Google-parent posted a cloud revenue miss as it ramps up spending on artificial intelligence, spooking investors who worried the megacap tech company will take longer to capitalize on its AI ambitions. Overall revenue for the period also came up short.
The Canadian dollar traded for 69.82 cents US compared to 69.84 cents US on Tuesday.
US crude futures traded US$1.48 lower at US$71.22 a barrel, and the Brent contract lost US$1.47 to US$74.73 a barrel.
The price of gold was up US$19.84 to US$2,862.66.
In world markets, the Nikkei was up 33.11 points to ¥38,831.48, the Hang Seng was down 192.87 points to HK$20,597.09, the FTSE was up 52.52 points to ₤8,623.29, and the DAX was up 80.23 points to €21,585.93.
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(Top image generated with AI.)