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Wall St. hits another record high, as TSX edges up and loonie breaks 80 cents US
– canadianbusiness.com
TORONTO _ Wall Street set another record high Tuesday on relatively minor movements as Canada’s largest stock index inched forward and the loonie cleared 80 cents US.
In New York, the Dow Jones industrial average gained 84.07 points to 22,641.67. The S&P 500 index edged up 5.46 points to 2,534.58 and the Nasdaq composite index added 14.99 points to 6,531.71.
North of the border, the Toronto Stock Exchange’s S&P/TSX composite index advanced 23.51 points to 15,728.51.
“It’s a little sleepy today, pretty slow,” said Cavan Yie, a portfolio manager at Manulife Asset Management. “All you’re seeing is optimism in the markets being sustained.”
“If you look at Canada,” Yie added, “the banks keep chugging along with share prices near all-time highs, with solid fundamentals to support them.”
The TSX’s financials subsector was up nearly half a percentage point on Tuesday.
Looking ahead to Friday, investors will be eyeing Statistics Canada’s labour force survey for September…
In New York, the Dow Jones industrial average gained 84.07 points to 22,641.67. The S&P 500 index edged up 5.46 points to 2,534.58 and the Nasdaq composite index added 14.99 points to 6,531.71.
North of the border, the Toronto Stock Exchange’s S&P/TSX composite index advanced 23.51 points to 15,728.51.
“It’s a little sleepy today, pretty slow,” said Cavan Yie, a portfolio manager at Manulife Asset Management. “All you’re seeing is optimism in the markets being sustained.”
“If you look at Canada,” Yie added, “the banks keep chugging along with share prices near all-time highs, with solid fundamentals to support them.”
The TSX’s financials subsector was up nearly half a percentage point on Tuesday.
Looking ahead to Friday, investors will be eyeing Statistics Canada’s labour force survey for September…
