Canada’s main stock index advanced on Wednesday, supported by stronger gold prices, while investors cheered for Nvidia’s (NASDAQ:NVDA) quarterly earnings, which reported record revenue from the AI supercomputing company.
However, Nvidia faces a high bar. Recent profit-taking in tech shares reflects growing concerns that the AI-driven rally has pushed valuations for Nvidia and other major tech players to unsustainable levels.
| TSX | 30,278.41 | +241.95 |  |
| TSXV | 873.45 | +5.79 | |
| CSE | 141.45 | -2.17 |  |
| DJIA | 46,138.77 | +47.03 | |
| NASDAQ | 22,564.23 | +131.38 | |
| S&P 500 | 6,642.16 | +24.84 | |
The Canadian dollar traded for 71.15 cents US compared to 71.49 cents US on Tuesday.
US crude futures traded US$1.46 lower at US$59.21 a barrel, and the Brent contract lost US$1.59 to US$64.83 a barrel.
The price of gold was up $11.66 to US$4,077.47.
In world markets, the Nikkei was down 165.28 points to ¥48,537.70, the Hang Seng was down 99.38 points to HK$25,830.65, the FTSE was down 37.24 points to ₤9,515.06, and the DAX was up 17.61 points to €23,162.92.
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