S&P/TSX composite, Dow Jones and S&P 500 set record highs as mood rises on economy
Poll
Yes
The TMX broadcast centre is shown in Toronto on May 9, 2014. THE CANADIAN PRESS/Darren Calabrese
TORONTO – Broad-based optimism lifted Canada’s main stock index to a record close on Thursday as U.S. markets also pushed higher on news suggesting a strong recovery from the pandemic slump.
The S&P/TSX composite index was up 150.26 points at 19,321.92 with eight of 11 sectors in positive territory.
In New York, the Dow Jones industrial average jumped 305.10 points to a record high of 34,035.99 – its first close above 34,000 – and the S&P 500 index was up 45.76 points to a new record of 4,170.42.
TORONTO Overflowing investor optimism that the pandemic s gloom will soon lift pushed Canada s main stock index and two of three indexes in the United States to record closes on Friday. The S&P/TSX composite index was up 29.40 points at 19,351.32, a gain of 123.29 points for the week. In New York, the Dow Jones industrial average was up 164.68 points at a record 34,200.67 and the S&P 500 index gained 15.05 points at a record 4,185.47. Meanwhile, the Nasdaq composite was up 13.58 points at 14,052.34. “We ve had a good week of economic data that for the most part has been a surprise to the upside, whether it be the regional manufacturing data, whether it s the retail sales, today we had housing starts,” said Philip Petursson, chief investment strategist at Manulife Investment Management.
Only two sectors were positive on the day, with energy gaining more than four per cent and materials up 0.56 per cent, while information technology followed U.S. tech stocks lower, the worst performer in Toronto with a loss of 1.76 per cent.
The May crude oil contract jumped US$2.97 to US$63.15 per barrel after the International Energy Agency raised its forecast for oil demand this year by 230,000 barrels per day to 96.7 million barrels.
A separate U.S. government report also showed that the amount of oil supplies in inventory fell sharply last week. Meanwhile, the May natural gas contract was unchanged at US$2.62 per mmBTU.
S&P/TSX composite slips despite energy sector jump; U S markets mixed lethbridgeherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lethbridgeherald.com Daily Mail and Mail on Sunday newspapers.
S&P/TSX composite slips despite energy sector jump; U.S. markets mixed
Business Related
Poll
Would you support the Conservative Party of Canada’s carbon tax plan of consumer pricing with ‘green’ savings account?
Yes
A street sign along Bay Street in Toronto s financial district is shown on Tuesday, January 12, 2021. THE CANADIAN PRESS/Nathan Denette
TORONTO – Energy sector strength amid rising oil prices proved insufficient to overcome broader market weakness and Canada’s main stock index closed lower on Wednesday.
The S&P/TSX composite index fell 32.04 points to 19,171.66.
Only two sectors were positive on the day, with energy gaining more than four per cent and materials up 0.56 per cent, while information technology followed U.S. tech stocks lower, the worst performer in Toronto with a loss of 1.76 per cent.