Equities grew in Toronto on Wednesday, driven by gains in technology shares, as investors reacted positively to US President Donald Trump’s assurance that he would not dismiss Federal Reserve Chairman Jerome Powell.
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In Canada, Trump’s tariff threats and annexation rhetoric have brought together the two main election candidates in a rare agreement, with both promising to expedite energy projects to reduce dependence on US exports ahead of the April 28 vote.
US stocks also climbed on optimism that US-China trade tensions might soon diminish, while Trump indicated he does not intend to remove Powell from his position as head of the central bank.
On Tuesday, Trump expressed his willingness to adopt a less confrontational stance in trade negotiations with China, noting that the current 145 per cent tariff on Chinese imports “won’t be that high. […] It’ll come down substantially. But it won’t be zero.”
| TSX | 24,472.68 | +166.70 |  |
| TSXV | 635.43 | +4.63 | |
| CSE | 113.11 | +0.41 | |
| DJIA | 39,606.57 | +419.59 | |
| NASDAQ | 18,693.26 | +416.85 | |
| S&P 500 | 5,375.86 | +88.10 | |
The Canadian dollar traded for 72.00 cents US compared to 72.37 cents US on Tuesday.
US crude futures traded US$1.31 lower at US$62.36 a barrel, and the Brent contract lost US$1.23 to US$66.21 a barrel.
The price of gold was down US$119.08 to US$3,288.49.
In world markets, the Nikkei was up 648.03 points to ¥34,868.63, the Hang Seng was up 510.30 points to HK$22,072.62, the FTSE was up 74.58 points to ₤8,403.18, and the DAX was up 668.44 points to €21,961.97.
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(Top image generated with AI.)
