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TORONTO After being underwater for most of the day, Canada s main stock index recovered to set a new record close after crude oil prices briefly hit their highest levels in more than six years. The S&P/TSX composite index closed up 18.57 points to 20,300.03 after losing as much as about 129 points. In New York, the Dow Jones industrial average was down 208.98 points at 34,577.37. The S&P 500 index was down 8.80 points at 4,343.54, while the Nasdaq composite was up 24.31 points at 14,663.64. Investors were a little rattled in early trading by weaker ISM services numbers for June that suggest the rapid growth from the pandemic lows is starting to peak, says Anish Chopra, managing director with Portfolio Management Corp.
TORONTO Canada’s main stock market index closed above 20,000 on Friday for the first time, extending a sharp rebound from its low last year during the…
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TORONTO A supportive environment bolstered U.S. stock markets and Canada s main stock index dipped on lower metals prices, while the loonie increased for a seventh-straight day to top 81 cents US. “Strong U.S. day based on supportive Federal Reserve, rebound in the economic, strong earnings from market leaders and in Canada a mixed day, some strength in energy and financials, offset by weakness in materials,” said Anish Chopra, managing director with Portfolio Management Corp. The American economy is on fire as first-quarter GDP surged at an annualized rate of 6.4 per cent. Initial jobless claims continued to trend lower, increasing by 553,000 while corporate earnings reports have been strong with Facebook and Apple posting blowout results.