Markets on both sides of the border moved modestly higher Thursday, as investors weighed easing geopolitical risks against renewed worries about inflation and climbing oil prices. In Canada, the S&P/TSX Composite Index traded close to record levels, lifted by strength in technology and energy stocks and optimism surrounding a potential diplomatic resolution between the US and Iran.
Market sentiment improved following reports that Washington and Tehran were considering extending a ceasefire agreement, reducing concerns of a broader Middle East conflict. Technology shares stood out as top performers on Bay St. and Wall St.
At the same time, investors digested weaker-than-anticipated GDP data, which heightened fears that economic momentum may be slowing despite persistently elevated inflation. Oil markets remained volatile, with Brent crude surging after renewed military activity near the Strait of Hormuz raised fresh supply disruption concerns.
| TSX | 34,517.70 | +105.65 |  |
| TSXV | 1,006.86 | +19.96 | |
| CSE | 182.09 | +4.32 | |
| DJIA | 50,668.97 | +24.69 | |
| NASDAQ | 26,917.47 | +242.74 | |
| S&P 500 | 7,563.63 | +43.27 | |
The Canadian dollar traded for 72.55 cents US compared to 72.29 cents US on Wednesday.
US crude futures traded $0.46 higher at US$89.14 a barrel, but the Brent contract lost $0.35 to US$93.94 a barrel.
The price of gold was up US$50.19 to US$4,500.59.
In world markets, the Nikkei was down 306.29 points to ¥64,693.12, the Hang Seng was down 322.07 points to HK$25,006.16, the FTSE was down 79.05 points to ₤10,425.96, and the DAX was down 85.55 points to €25,092.25.