Canadian Stocks Rally Ahead Of Trump's Tariff Announcement

(RTTNews) - After ending yesterday's volatile session mostly higher, Canadian stocks saw further upside over the course of the trading day on Wednesday.

The benchmark S&P/TSX Composite Index moved to the downside early in the session but showed a significant turnaround to end the day up 273.90 points or 1.1 percent at 25,307.18.

The rally that emerged on Bay Street came despite concerns about the impact of President Donald Trump's reciprocal tariffs on U.S. trade partners.

Trump is scheduled to announce the new tariffs in a Rose Garden event shortly after the close of trading, with White House press secretary Karoline Leavitt indicating the new levies will be "effective immediately."

Technology stocks helped lead the strong upward move on the day, with the S&P/TSX Capped Information Technology Index surging by 2.5 percent.

Consumer, industrial and financial stocks also saw considerable strength, while telecom stocks showed a significant move to the downside.