TSX Rises at Outset, Led by Techs

Futures tracking Canada's main stock index rose on Wednesday, lifted by rising commodity prices, including a 2% jump in oil prices.The TSX recovered 74.04 points to begin Wednesday at 31,337.97. The Canadian dollar dipped 0.07 cents at 72.63 cents U.S.U.S.-listed shares of Canadian cannabis companies Canopy Growth and Tilray Brands rose in premarket trading on Wednesday after a report said Trump was expected to sign an executive order to fast-track reclassification of the drug.Canopy shares grabbed 40 cents, or 15.8%, to $2.93, while Tilray shares nicked up eight cents to $19.20.On the economic scene, Statistics Canada said foreign investors added $46.6 billion of Canadian securities to their holdings in October, the highest investment since March 2022. Meanwhile, Canadian investors reduced their holdings of foreign securities by $11.6 billion in October, the first divestment since January 2025.ON BAYSTREETThe TSX Venture Exchanged resurfaced 9.95 points, or 1%, to 945.52. Eight of the 12 TSX subgroups were positive in the first hour, led by health-care, up 2.1%, while information technology picked up 1.2%, and energy rumbled 0.8%. The four laggards were weighed most by consumer staples, down 0.6%, financials, off 0.5%, and utilities, sinking 0.4%. ON WALLSTREETThe S&P 500 was relatively unchanged on Wednesday after the index posted a third losing session and as investors weighed newly released U.S. economic data.The Dow Jones Industrials regained 185.21 points kick off Wednesday at 48,299.49.The much-broader index dropped 6.02 points to 6,794.24.The NASDAQ retreated 67.72 points to open at 23,043.74. Warner Bros. Discovery’s board unanimously recommended that shareholders reject Paramount Skydance’s takeover bid and stick with Netflix’s proposal — which they called “superior.” Warner stock lost a dime at $28.80. Netflix shares ticked higher by $2.33, or 2.5% in the first hour, to $96.90. The U.S. Bureau of Labor Statistics released early Tuesday its November job report, which also included data from October. The findings pulled back the curtain on the U.S.' economic health following a federal data backup caused by the U.S. government shutdown this fall. The report showed the U.S. economy shed 105,000 jobs in October, while the unemployment rate rose to 4.6% — its highest level since September 2021. However, 64,000 jobs were added in November, topping the Dow Jones consensus estimate of 45,000. On the economic front, Federal Reserve Governor Christopher Waller and New York Fed President John Williams are slated to speak on Wednesday morning.Traders are also looking ahead to Thursday’s release of the consumer price index reading for November.Prices for the 10-year Treasury listed lower, raising yields to 4.16% from Tuesday’s 4.15%. Treasury prices and yields move in opposite directions. Oil prices recovered 84 cents to $56.11. Gold prices bounced $39.00 to $4,370.90.