Markets start December in the green after ‘remarkable’ November comes to a close
Global News
Canada's main stock index gained more than 200 points Friday on broad-based strength led by base metals, industrials and telecom stocks, while U.S. markets also rose.
Canada’s main stock index gained more than 200 points Friday on broad-based strength led by base metals, industrials and telecom stocks, while U.S. markets also rose.
The first day of December began on a positive note after a “remarkable” month of November for the market, said Brian Madden, chief investment officer with First Avenue Investment Counsel.
December is historically positive as well, said Madden, though he isn’t expecting a repeat of November.
“November was a rip-roaring rally in the stock market,” he said.
However, it was also a significant month for the bond market, he added.
“This was the second best month for bonds since the turn of the century,” he said.
The S&P/TSX composite index closed up 216.58 points at 20,452.87.
In New York, the Dow Jones industrial average was up 294.61 points at 36,245.50. The S&P 500 index was up 26.83 points at 4,594.63, while the Nasdaq composite was up 78.81 points at 14,305.03.
