FX.co ★ TSX Rebounds on Wednesday

On Wednesday, the S&P/TSX Composite Index saw an increase of approximately 0.6%, surpassing the 30,200 threshold as major technology firms and mining companies outperformed. This uptick occurred in anticipation of the eagerly awaited earnings report from AI powerhouse Nvidia. Investors are predicting a strong quarter, but they will closely examine the results and guidance to determine whether they support Nvidia's high valuation and can boost sentiment following weeks of pressure on technology stocks. Leading the index was tech giant Shopify, which experienced gains exceeding 3%. Meanwhile, Agnico Eagle and Barrick also saw their shares rise by about 2.5% each, as gold prices slightly increased due to safe-haven demand ahead of the delayed US jobs report and the Federal Reserve's meeting minutes. Conversely, Metro Inc experienced a decline of 0.7%, following a reported fourth-quarter profit of C$217 million, down from C$219.9 million the previous year. This decrease was attributed to higher expenses at its Toronto frozen food distribution center. In other news, oil prices fell, negatively impacting energy producers, who emerged as the session's most underperforming sector.