TORONTO — Canada's main stock index rose 1.2 per cent Wednesday on broad-based strength, while U.S. stock markets were mixed after they closed early ahead of the July 4 holiday. The S&P/TSX composite index was up 269.87 points at 22,223.67.
TORONTO — Canada's main stock index rose 1.2 per cent Wednesday on broad-based strength, while U.S. stock markets were mixed after they closed early ahead of the July 4 holiday.“The TSX has jumped on its monthly high on the back of soft U.S. job market data that pushed bond yields down,” said Brianne Gardner, senior wealth manager at Velocity Investment Partners at Raymond James Ltd.
New economic data showed activities in the U.S. services industries contracted in June, coming in weaker than economists expected.“This is showing us a third consecutive month of slowing job growth, and slower annual pay increases,” said Gardner. Large tech stocks continued to drive market returns on Wednesday. Tesla rose 6.5 per cent a day after soaring due to a milder drop in spring sales than analysts had expected. The electric vehicle maker, along with Nvidia’s gain of 4.6 per cent, helped push the S&P 500 higher.
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