Baystreet.ca - Equities in Canada’s largest centre enjoyed large gains Thursday, as tech and health-care proved the main agents. The TSX Composite Index popped 148.26 points to finish Thursday at 21,942.16.The Canadian dollar progressed 0.06 cents to 73.02 cents U.S. BlackBerry (TSX:BB) beat first-quarter revenue estimates on Wednesday on robust demand for cybersecurity services in the wake of growing online threats. The company once known as Research in Motion captured 32 cents, or 10.5%, to $3.36.
Elsewhere in tech stocks, Tecsys climbed $2.95, or 9%, to $35.75. Health-care stocks prospered, as Tilray (TSX:TLRY) jumped six cents, or 2.6%, to $2.36, while Bausch Health (TSX:BHC) Companies took on 16 cents, or 1.7%, to $9.43. In real-estate, Altus Group (TSX:AIF) soared $1.85, or 3.9%, to $49.85, while Colliers International (TSX:CIGI) grew $2.44, or 1.6%, to $151.72.
Communications, however, put a bit of an anchor on the markets, as Rogers docked 40 cents, or $50.35, while BCE (TSX:BCE) Inc. dipped 24 cents to $44.37. Statistics Canada reported the number of employees receiving pay and benefits from their employer decreased by 22,700 (-0.1%) in April.
ON BAYSTREET The TSX Venture Exchange grabbed 4.97 points to 570.55. All but one of the 12 TSX subgroups were higher by the close, information technology picking up 1.5%, while health-care and real-estate each stronger 1.4%. The only naysayer was in communications, down 0.4%.
ON WALLSTREET The S&P 500 traded near the flatline Thursday as Wall Street looked ahead to fresh inflation data for clues as to when the Federal Reserve will begin to lower interest rates.The Dow Jones Industrials grabbed 36.26 points to answer the closing bell Thursday at 39,164.06.The much-broader index managed to muscle up 4.97 points to 5,482.83.
The NASDAQ gained 53.53 points to 17,858.68. Semiconductor stocks were in the red, raising questions on whether the artificial intelligence trade can continue to sustain markets in the back half of this year. Micron (NASDAQ:MU) shares slipped more than 6% after the chipmaker issued fourth-quarter revenue guidance that was in line with estimates. Semiconductor giant and market bellwether Nvidia (NASDAQ:NVDA) also sagged, dipping 1.6%.
Several stocks slid after reporting quarterly earnings. Levi Strauss dropped more than 16% after the jeans maker’s latest quarterly revenue disappointed investors. Walgreens Boots Alliance (NASDAQ:WBA) plunged 25% after cutting its full-year outlook and issuing lower-than-expected earnings in the previous quarter.Those moves come as traders look to the release of May’s core personal consumption expenditures price index, which is the Fed’s preferred measure of inflation. Economists polled by Dow Jones expect core PCE rose 0.1% month over month and 2.6% from the year-earlier period.
Prices for the 10-year Treasury spiked, yields falling to 4.29% from Wednesday’s 4.32%. Treasury prices and yields move in opposite directions. Oil prices added $1.01 at $81.91 U.S. a barrel. Gold prices increased $23.80 to $2,337.00