Canada’s main stock index posted modest gains on Wednesday, as investors bought in heavier than the day before. Traders on both sides of the border were also holding off on major moves ahead of the release of US producer price data, which could offer clues about inflation pressures stemming from tariffs.
Wall Street was divided as the NASDAQ marched toward new record highs in anticipation of the latest government inflation report. Oracle (NYSE:ORCL) shares skyrocketed by nearly 36 per cent, following news that the company secured four multi-billion-dollar deals. These contracts are expected to boost its cloud infrastructure revenue by 77 per cent this fiscal year, reaching US$18 billion.
The Canadian dollar traded for 72.14 cents US compared to 72.22 cents US on Tuesday.
US crude futures traded US$1.10 higher at US$63.73 a barrel, and the Brent contract rose US$1.19 to US$67.58 a barrel.
The price of gold was down US$4.63 to US$3,638.42.
In world markets, the Nikkei was up 378.38 points to ¥43,837.67, the Hang Seng was up 262.13 points to HK$26,200.26, the FTSE was down 17.14 points to ₤9,225.39, and the DAX was up 210.15 points to €23,807.13.
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