financetom
World
financetom
/
World
/
CANADA STOCKS-Canada's TSX post longest daily winning streak in 13 months
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CANADA STOCKS-Canada's TSX post longest daily winning streak in 13 months
Aug 15, 2024 1:55 PM

*

TSX ends up 1.2% at 23,032.72

*

Posts sixth straight day of gains

*

Tech sector adds 2.7%

*

Energy adds 1.7%; oil settles 1.5% higher

(Updates at market close)

By Nikhil Sharma and Fergal Smith

Aug 15 (Reuters) - Canada's main stock index rose for a

sixth straight day on Thursday, with resource and technology

stocks leading a broad-based rally as U.S. economic data

bolstered hopes of a soft landing for the economy.

The S&P/TSX composite index ended up 272.71

points, or 1.2%, at 23,032.72, stopping just short of its record

closing high on July 31. The daily winning streak was the

longest since July 2023.

The number of Americans filing new applications for

unemployment benefits dropped to a one month-low last week and

retail sales jumped 1.0% in July, which was the largest increase

since January 2023.

The data indicates that "we still have resilient economic

growth," said Angelo Kourkafas, a senior investment strategist

at Edward Jones. "And when you combine that with moderating

inflation, that is the recipe for a soft landing."

The latest U.S. consumer price index data, released on

Wednesday, showed the annual increase in inflation slowing to

below 3% for the first time since early 2021.

All 10 major sectors moved higher, including a gain of 2.7%

for technology as shares of Celestica Inc ( CLS ) and Shopify

Inc ( SHOP ) climbed.

Energy added 1.7% as U.S. crude oil futures settled

1.5% higher at $78.16 a barrel.

Gold and copper prices also rose, which helped

lift the materials group. It ended up 1.6%.

Canadian Labour Minister Steven MacKinnon has rejected a

request by Canadian National Railway Co ( CNI ) to initiate

binding arbitration in a labor dispute with the Teamsters union,

a spokesman for the minister said.

Still, shares of CN Rail and Canadian Pacific

Kansas City Ltd ( CP ) both ended up 1.9%.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
TRADING DAY-Tariffs, Fed fears vs tech optimism
TRADING DAY-Tariffs, Fed fears vs tech optimism
Aug 7, 2025
ORLANDO, Florida, Aug 7 (Reuters) - TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist Tariffs and worries over the Federal Reserve's independence battled against tech resilience in U.S. stock market trading on Thursday, while the Bank of England's narrow call to cut rates highlighted the dilemma facing many central banks right now. More...
Japan's Topix index rises above 3,000 for first time
Japan's Topix index rises above 3,000 for first time
Aug 7, 2025
TOKYO, Aug 8 (Reuters) - Japan's Topix index rose above the psychological 3,000-point mark on Friday for first time ever. The Topix gained as much as 1.3% to a record 3,028.44. The Nikkei share average rose as much as 1.6% to 41,739.23, the highest since July 25. ...
Trading Day: Tariffs, Fed fears vs tech optimism
Trading Day: Tariffs, Fed fears vs tech optimism
Aug 7, 2025
ORLANDO, Florida (Reuters) -TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist  Tariffs and worries over the Federal Reserve's independence battled against tech resilience in U.S. stock market trading on Thursday, while the Bank of England's narrow call to cut rates highlighted the dilemma facing many central banks right now. More on that below....
COLUMN-Could Trump tariffs become BRIC-building blocks? McGeever
COLUMN-Could Trump tariffs become BRIC-building blocks? McGeever
Aug 7, 2025
ORLANDO, Florida, Aug 7 (Reuters) - U.S. President Donald Trump has the so-called 'BRIC' group of nations directly in his trade war crosshairs, slapping super-high tariffs on imports from Brazil and India, and accusing them of pursuing anti-American policies. Washington's relations with Brasilia and New Delhi have sunk to new lows. But this belligerence could backfire. The White House said...
Copyright 2023-2026 - www.financetom.com All Rights Reserved