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S&P/TSX Composite Gains More than 100 Points Amid Bank Earnings, U.S. Markets Rise
Canada's S&P/TSX dropped 52.50 points amid calmer Treasury yields and the start of bank earnings, with Scotiabank beating profit expectations, analysts said.
- Monday, the S&P/TSX Composite index declined 52.50 points to 31,049.28 as Canadian and U.S. markets moved oppositely amid bank earnings reports.
- With bank earnings starting this week, Brianne Gardner said the TSX's decline was a `natural pause` after last week's run as most sectors, led by basic materials, fell while technology stood out.
- U.S. indexes rose as the Dow Jones industrial average gained 185.13 points at 47,474.46, U.S. Treasury yields eased with the 10-year at 4.08%, and commodities fell, including crude at US$58.64 and gold at US$4,220.80.
- The Canadian dollar traded at 71.48 cents US compared with 71.54 cents US on Monday as markets and investors anticipate a U.S. Federal Reserve rate cut when it meets next week.
- Monday's climb in U.S. Treasury yields followed a Bank of Japan hint at rate hikes, and analysts warn short-term volatility from technical factors despite markets pricing a likely U.S. Federal Reserve cut next week.
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S&P/TSX composite slides, hitting a 'natural pause,' U.S. markets move higher
TORONTO — Canadian and U.S. stock markets moved in opposite directions on Tuesday as large banks began to report earnings north of the border. Brianne Gardner, senior wealth manager at Velocity Investment Partners at Raymond James Ltd., said the TSX’s decline was a “natural pause after we saw last week’s strong run.” Gardner added that […]
·Toronto, Canada
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S&P/TSX composite down nearly 200 points, U.S. stock markets move higher
TORONTO — Canada's main stock index fell nearly 200 points in late-morning trading, weighed down by losses in the energy and base metal sectors, while U.S. stock markets moved higher. The S&P/TSX composite index was down 188.88 points at 30,912.
Coverage Details
Total News Sources8
Leaning Left4Leaning Right0Center1Last UpdatedBias Distribution80% Left
Bias Distribution
- 80% of the sources lean Left
80% Left
L 80%
C 20%
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