By Ketki Saxena
Investing.com – The TSX tracked Wall Street higher today, as Google (NASDAQ:GOOGL) shares surged, boosting market sentiment as the company announced the launch of its most advanced artificial intelligence model yet, called Gemini.
Meanwhile, the commodity heavy Canadian index faced some pressure from crude prices, which touched six month lows as worries of slowing demand in the US and China outweighed any optimism around OPEC+ supply cuts.
Toronto Stock Market News
Laurentian Bank (TSX:LB) reported a net income of $30.6 million, or $0.67 per diluted share, compared with $55.7 million, or $1.26 per share, in the same period last year. Laurentian missed the mark on all of its financial goals for 2023, however on a mildly positive note, provisions for credit losses were slightly less than expected, at $16.7 million.
CN announced it has closed an agreement to acquire Iowa Northern Railway. The Iowa railway operates approximately 275 track miles in Iowa connecting to CN's U.S. rail network. Terms of the transaction were not disclosed, and the deal is pending regulatory review.
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Toronto Stocks Moving Markets Today
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In Canadian Economics
The federal government today announced a proposed framework to cut emissions in the Canadian oil and gas sector by 35-38% compared to 2019 levels through a “cap-and-trade” system.
For all Canadian economic releases, view our economic calendar.
All currencies Canadian Dollar unless noted otherwise.