TORONTO — Canada's main stock index rose Wednesday, helped by strength in telecommunication and utility stocks, while U.S. stock markets moved lower ahead of Thanksgiving. The S&P/TSX composite index closed up 83.16 points at 25,488.30.
TORONTO — Canada's main stock index rose Wednesday, helped by strength in telecommunication and utility stocks, while U.S. stock markets moved lower ahead of Thanksgiving.In New York, the Dow Jones industrial average was down 138.25 points at 44,722.06. The S&P 500 index was down 22.89 points at 5,998.74, while the Nasdaq composite was down 115.10 points at 19,060.48.
The personal consumption expenditures index, a measure of inflation, accelerated in October to 2.3 per cent but Chopra said it was still more or less in line with Fed expectations. The tech sector was a drag on the market, with Dell and HP earnings reports missing expectations. Large tech names like Nvidia were down, and the Nasdaq led the major indexes lower.“There’s some disappointing earnings across a few specific companies,” said Chopra.Overall, the earnings season has been solid, said Chopra, and that’s reflected in the economic data.
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