North American markets end July strong after a busy week of earnings, Fed decision
Global News
The S&P/TSX composite index closed up 236.21 points at 19,692.92, driven by strength in the energy, industrials and base metals sectors.
North American markets ended the last trading day of July on a high note, with Canada’s main stock index up over 200 points and U.S. markets all in the green.
The S&P/TSX composite index closed up 236.21 points at 19,692.92, driven by strength in the energy, industrials and base metals sectors.
A slightly-better-than-expected GDP report in Canada, a nice move higher in oil prices and pretty positive energy earnings helped push the index higher.
The latest GDP reading showed the Canadian economy stayed flat in May, with economic growth slowing down as businesses faced ongoing supply constraints and rising interest rates.
Meanwhile, companies like Imperial Oil Ltd. posted strong quarterly results Friday morning.
In New York, the Dow Jones industrial average closed up 315.50 points at 32,845.13. The S&P 500 index gained 57.86 points at 4,130.29, while the Nasdaq composite was up 228.09 points at 12,390.69.
“We’re seeing improved risk sentiment,” said Edward Jones investment strategist Angelo Kourkafas in an interview.
Some major technology company’s earnings out of the U.S. also helped lift markets this week, even though they were far from stellar.
