TORONTO — Canada's main stock index rose almost 350 points Thursday, powered by a broad-based rally on the Toronto market, while U.S. stocks also surged higher.
TORONTO — Canada's main stock index rose almost 350 points Thursday, powered by a broad-based rally on the Toronto market, while U.S. stocks also surged higher.
"At the end of the day, what we saw was potentially the appropriate response. The unwinding of the trades was taken away from companies that had seen very high valuations, excess returns over the last 12 months," he said. In the U.S., where the central bank is expected to start cutting interest rates in September, the next eight weeks will be key to understanding the trajectory of economic data, he said.
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