Canada’s main stock index fell on Wednesday, taking cues from Wall Street peers, as cautious investors awaited leading chipmaker Nvidia’s quarterly earnings due later in the day.
The TSX lost 64.56 points to begin Wednesday at 24,946.21.
The Canadian dollar lopped off 0.24 cents to 71.41 cents U.S.
In corporate news, Fairfax Financial announced it intends to offer $450 million in senior notes due 2034 and $250 million in senior notes due 2054. Shares in Fairfax gained a slim 83 cents to $1,932.56.
The top gainers on the TSX index so far are International Petroleum up 52 cents, or 3.7%, Vermilion Energy, up 20 cents, or 1.4%, to $14.35, and Baytex Energy, up seven cents, or 1.6%, to $4.20.
ON BAYSTREET
The TSX Venture Exchange sank 1.43 points to 597.80.
All but one of the 12 subgroups were lower, weighed most by consumer discretionary stocks, off 0.9%, while information technology and real-estate each lost 0.6%.
Only energy gained, and 0.5% at that.
ON WALLSTREET
Stocks dipped on Wednesday as Nvidia slumped 2% ahead of its market moving earnings report, and Wall Street assessed disappointing results from Target
The Dow Jones Industrials lost 42.05 points to 43,226.89.
The S&P 500 stumbled 31.19 points to 5,885.79.
The tech-heavy NASDAQ dropped 161.97 points to 18,825.50.
All eyes are on AI darling Nvidia. The results could hold more significance than some key economic reports, given the chipmaker’s $3.6 trillion market capitalization, and set the tone for the market for the rest of the week. Investors will search for details on demand for its Blackwell AI chips, which CEO Jensen Huang last month characterized as “insane.”
Costco and Walmart were down marginally, while discount retailers Dollar Tree, Dollar General and Five Below declined more than 3% each. Home Depot dipped 1%.
Prices for the 10-year Treasury sank a bit, raising yields to 4.40% from Tuesday’s 4.39%. Treasury prices and yields move in opposite directions.
Oil prices gained 30 cents to $69.69 U.S. a barrel.
Prices for gold took on $20.70 an ounce to $2,651.70 U.S.
