S&P/TSX composite gains 265 points Tuesday, U.S. markets also rise
Global News
The S&P/TSX composite index closed up 265.27 points at 20,290.41.
Gains in energy, technology and base metals helped lead a broad-based rally on Canada’s main stock index Tuesday, which rose 1.32 per cent, while U.S. markets also posted gains.
The S&P/TSX composite index closed up 265.27 points at 20,290.41.
In New York, the Dow Jones industrial average was up 292.69 points at 34,852.67. The S&P 500 index was up 64.32 points at 4,497.63, while the Nasdaq composite was up 238.63 points at 13,943.76.
Stocks rose on a pair of economic reports that showed a continued downtrend in the data that informs central bank decisions on interest rates, said Lesley Marks, chief investment officer of equities at Mackenzie Investments.
“I guess it’s the case of bad news is good news,” said Marks.
The U.S. government reported that job openings in July fell to the lowest level since March 2021.
“Job openings are a key indication of the health of an economy,” said Marks.
Meanwhile, the Conference Board reported that consumer confidence fell in August.
