TORONTO — Canada's main stock index gained almost 250 points Monday amid a broad rally led by financial, industrial and technology stocks, while U.S. markets also climbed higher, snapping out of last week's losing streak. “The U.S.
TORONTO — Canada's main stock index gained almost 250 points Monday amid a broad rally led by financial, industrial and technology stocks, while U.S. markets also climbed higher, snapping out of last week's losing streak.
Last Friday’s U.S. jobs report added to negative sentiment as the numbers showed continued cooling, Mahajan said.“Markets digested the data last week and came in today ... there was a bit of a better outlook,” she said. Some market watchers are calling for a cut of 50 basis points, or half a percentage point, from the Fed over concerns the central bank has waited too long to move.Monday’s gains saw all three major indexes in the U.S. gain about 1.2 per cent.“Tech, of course, had been the market leader for much of the first half of the year,” she said.This week will bring the last report on U.S. inflation before the Fed’s decision, with Canada’s own inflation report coming next week.
She said the report will likely see inflation continue to move lower, helping solidify a rate cut from the Fed.
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