Canada’s main stock index flatlined on Wednesday, thanks to a rise in commodity prices, including a 2 per cent jump in oil prices. US-listed shares of Canadian cannabis companies like Canopy Growth (TSX:WEED) rose after a report said the US federal government was expected to sign an executive order to fast-track reclassification of the drug.
As investors weighed new US economic data, US markets were lower, with the S&P 500 sustaining a fourth straight losing session. Warner Bros. Discovery’s (NASDAQ:WBD) board unanimously recommended that shareholders reject Paramount Skydance’s (NASDAQ:PSKY) takeover bid and stick with Netflix’s (NASDAQ:NFLX) proposal — which they called “superior.” While Netflix and Paramount lost between 2 to 4 per cent, Netflix was flat.
| TSX | 31,250.02 | -13.91 |  |
| TSXV | 932.46 | -9.30 | |
| CSE | 184.49 | +2.38 |  |
| DJIA | 47,885.97 | -228.29 | |
| NASDAQ | 22,693.32 | -418.14 | |
| S&P 500 | 6,721.43 | -78.83 | |
The Canadian dollar traded for 72.54 cents US compared to 72.68 cents US on Tuesday.
US crude futures traded US$1.25 higher at US$56.52 a barrel, and the Brent contract rose US$1.26 to US$60.18 a barrel.
The price of gold was up US$39.03 to US$4,341.07.
In world markets, the Nikkei was up 128.99 points to ¥49,512.28, the Hang Seng was up 233.37 points to HK$25,468.78, the FTSE was up 89.53 points to ₤9,774.32, and the DAX was down 116.28 points to €24,960.58.
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