Canadian Stocks Rally To New Record Highs After Early Volatility

(RTTNews) - After showing a lack of direction early in the session, Canadian stocks moved sharply higher over the course of the trading day on Thursday.

The S&P/TSX Composite Index climbed firmly into positive territory as the day progressed before ending the session up by 374.63 points or 1.1 percent at a new record closing high of 34,501.96.

Gold stocks helped lead the way higher despite a decrease by the price of the precious metal, with the S&P/TSX Global Gold Index surging by 2.4 percent.

Significant strength also emerged among industrial stocks, as reflected by the 2.0 percent jump by the S&P/TSX Capped Industrials Index.

Technology stocks also turned in a strong performance even as a negative reaction to earnings news from Nvidia (NVDA) weighed on Wall Street.

On the other hand, healthcare stocks saw considerable weakness on the day, dragging the S&P/TSX Capped Health Care Index down by 1.4 percent.