TORONTO — Canada's main stock index rose Thursday to scrape out a new all-time closing high, while U.S. markets continued to set their own records. The S&P/TSX composite index closed up 41.55 points at 22,087.26. Its previous record was 22,087.
TORONTO — Canada's main stock index rose Thursday to scrape out a new all-time closing high, while U.S. markets continued to set their own records.
Markets are in “glass half full” mode after Wednesday’s U.S. Federal Reserve interest rate announcement, said John Zechner, chairman and lead equity manager at J. Zechner Associates. Investors had been concerned the Fed could lower its 2024 rate cut projections from three to two because of recent economic data, which has been stronger than expected, said Zechner.
The broadening shows investors increasingly believe they’re in an “economic sweet spot,” said Zechner.Apple weighed on U.S. markets Thursday. Its shares dropped four per cent after being hit with an antitrust lawsuit from the U.S. Department of Justice.
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