The S&P/TSX composite index gained 173.34 points to 16,294.66.
"Shopify is definitely the big story, the big driver of the TSX today," said
"And, given its concentration in that sector, it's been a big driver year to date," she said of technology, which is "up considerably" so far this year.
The
The company's shares closed up
It lifted the technology subindex to the day's top performer. Shares in the sector gained, on average, 3.33 per cent of their worth. They've advanced 40.47 per cent so far this year.
As earnings reports continue, it's clear plenty of are struggling due to the COVID-19 pandemic, noted Richardson.
"Q2 is expected to be the worst quarter for earnings in a long time," she said, "(and) to see the kind of revenue and earnings picture that Shopify has exhibited outpacing the market was a strong signal for the tech sector."
Also helping the
"We have held our policy interest rate near zero since mid-March and have stated that we will keep it there until we are confident that the economy has weathered recent events and is on track to achieve our maximum employment and price stability goals," read a transcript of the chair's opening remarks.
That news helped the TSX, as well as markets south of the border, said Richardson.
In
"I think what the Fed does that comforts the market is it says and reiterates, 'We'll do what it takes,'" she said, adding that earnings in America beating "the very low expectations so far" also helps investor sentiment.
Gold continued its streak Wednesday, as the August gold contract gained
"A lot of the gold story now is because of the weakening (
The Canadian dollar traded for
Elsewhere in commodities, the September crude contract rose
This report by
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
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