TORONTO — Canada's main stock index gained 1.4 per cent Wednesday in a broad-based rally led by energy, industrial and utilities stocks, while U.S. stock markets posted new records yet again. The S&P/TSX composite index closed up 307.
TORONTO — Canada's main stock index gained 1.4 per cent Wednesday in a broad-based rally led by energy, industrial and utilities stocks, while U.S. stock markets posted new records yet again.In New York, the Dow Jones industrial average was up 429.39 points at 39,721.36. The S&P 500 index was up 56.93 points at 5,633.91, while the Nasdaq composite was 218.16 points higher at 18,647.45.
“One particular area of strength continued to be companies within semiconductors. And of course, companies within this industry continue to capture attention in light of the ongoing data centre build-out related to artificial intelligence,” said Kathrin Forrest, equity investment specialist at Capital Group.The company, which makes chips for Nvidia and other leaders in the AI space, said its revenue climbed almost 33 per cent in June from a year earlier. Shares in TSMC rose 3.
The big event for Wednesday was the second day of Capitol Hill testimony from U.S. Federal Reserve chairman Jerome Powell.
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