Markets Rise as Inflation Data Reassures Fed Hold

North American stock markets kicked off Wednesday on an optimistic note, bolstered by in-line U.S. inflation data and upbeat earnings from AI infrastructure firms.

The S&P/TSX Composite Index rose 0.31 percent to 36,590.31, following Tuesday's record high.

Heavyweight materials stocks led the charge, gaining 1.2 percent as gold and precious metals prices increased.

Air Canada soared 12.5 percent after announcing one of its strongest fall seasons.

The Bank of Canada is expected to keep interest rates unchanged in September, with a 55 percent chance of a rate hold at the upcoming meeting.