Canada, U.S. markets finish higher on tech stocks amid fresh bank earnings

Group 1: Canadian Market Performance - Gains in the Canadian stock market were primarily in the technology and financial sectors, with the S&P/TSX composite index rising by 156.95 points to 34,127.33 [1][2] - BMO Financial Group shares increased by 3.82% after reporting profits that exceeded analyst expectations, despite facing charges related to layoffs and signs of consumer strain [1][2] - National Bank of Canada saw a profit increase to $1.25 billion from $997 million year-over-year, aided by its acquisition of Canadian Western Bank, resulting in a 6.63% share price increase [2] Group 2: U.S. Market Performance - In New York, the Dow Jones industrial average rose by 307.65 points to 49,482.15, while the S&P 500 index increased by 56.06 points to 6,946.13, and the Nasdaq composite was up by 288.40 points to 23,152.08 [3] - Technology companies were the primary drivers of the U.S. stock market's recovery, erasing previous losses for the week [3] Group 3: Nvidia's Market Influence - Nvidia, a leading artificial intelligence chipmaker, rose by 1.4% ahead of its profit report, significantly influencing the S&P 500 due to its large market value [4] - Nvidia's earnings reports have become critical indicators for the market, reflecting the broader impact of the AI boom on economic productivity [5] - Concerns have emerged regarding whether major companies like Alphabet and Amazon can recoup their investments in Nvidia's chips, which could lead to reduced spending and directly affect Nvidia [6] Group 4: Market Sentiment and Trends - Investors are increasingly wary of companies that may be threatened by AI-powered competitors, leading to rapid sell-offs in various industries, including software, trucking logistics, and legal services [7] - The Canadian dollar traded at 73.07 cents US, showing a slight increase from 72.95 cents US [7] Group 5: Commodity Prices - The April crude oil contract decreased by 21 cents to $65.42 per barrel, while the April gold contract rose by $49.90 to $5,226.20 per ounce [8]