Investors breathed a sigh of relief as upbeat earnings results from Apple and Boeing boosted sentiment on Wall Street.
And while it was a positive day for U.S. markets, Canada’s stock exchange struggled to stay above level.
The TSX managed to move up 21 points to post a fifth straight winning day.
Weighting the exchange was an expected dip in the nation’s economy, when Stats Canada releases data on the nation’s Gross Domestic Product in November.
It was a flat day on Bay Street despite rises in eight of 11 sectors and increases of two percent or more among heavily traded marijuana producer Aphria, energy companies Baytex Energy and Crescent Point Energy, and industrials bellwether Bombardier.
It was a different story on Wall Street with the Dow surging 434 points and the Nasdaq gaining 154 points on the backs of rosy corporate results, and the U.S. Federal Reserve deciding to stand pat on interest rates in its first policy update of the year.
Apple’s shares shot up 6.7 percent, despite the tech giant reporting that its iPhone revenue had declined 15 percent from the previous year.
While iPhone sales sagged, total revenue from all other products and services grew 19 percent.
Apple reported that its services revenue reached an all-time high of $10.9 billion, up 19 percent over the prior year, and revenue from Mac and Wearables, Home and Accessories also reached all-time highs, growing nine percent and 33 percent, respectively, while revenue from iPads grew 17 percent.
Elsewhere, Boeing shares soared 6.2 percent after the aerospace giant’s quarterly results crushed expectations. Boeing’s 2018 revenue topped $100 billion for the first time.
Oil prices moved up 97 cents to $54.28 US a barrel, with U.S. sanctions on Venezuela’s state-owned oil company along with a smaller-than-expected rise in American stockpiles sparking concerns over supply.
The loonie strengthened significantly against the greenback, up 63/100ths of a cent to $0.7598 US while gold continues to rise in value, jumping another $10.40 to $1,322 an ounce.
