The Toronto stock market was higher amid relief over continued support for economic stimulus from the U.S. Federal Reserve and mixed commodity prices.
The S&P/TSX composite index was ahead 57.85 points to 12,626.62. The Canadian dollar slipped 0.02 of a cent to 96 cents US.
U.S. indexes were mixed amid a strong earnings report from the financial sector as Morgan Stanley beat expectations.
The Dow Jones industrials were 40.31 points higher to 15,510.83, the Nasdaq was down 0.96 of a point to 3,609.04 and the S&P 500 index gained 2.74 points to 1,683.65. Oil was up 41 cents at $106.89 a barrel
Elsewhere on the earnings front, Shoppers Drug Mart (TSX:SC), which is being acquired by Loblaw Cos. Ltd. (TSX:L) in a $12.4 billion deal, posted quarterly earnings of $147 million or 73 cents a share, one cent above expectations.
Traders will also take in a second day of congressional testimony from U.S. Federal Reserve chairman Ben Bernanke. Stocks rose yesterday after Bernanke said the Fed's timetable for reducing its bond purchases, a key element of economic stimulus, was not decided.
Read more Business News
- CF-18s headed to Poland Canada - 9:16 am
- Premier talks 2nd crossingKelowna - 5:00 am
- City has eyes on youKelowna
- Doctor shortage surveyCentral Okanagan - 5:00 am
|QHR Technologies Inc||1.27||+0.05|
|Anavex Life Sciences||0.365||-0.01|
|Copper Mountain Mining||2.37||-0.05|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.20||-0.03|
How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...
The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...
Photo: ContributedFor many businesses this has been a tremendously difficult time since the 2008 crisis. Business fell off. Sales techniques that always worked, well… stopped working. Customers...