21:42:39 EDT Thu 16 May 2024
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Globe/wire say TSX ends flat amid "positive" U.S. bias

2024-02-08 08:23 ET - In the News

The Globe and Mail reports in its Thursday edition that Wall Street's major stock indexes rose on Wednesday, with the benchmark S&P 500 registering a record closing high, as investors applauded overall strength in U.S. earnings. A Reuters dispatch to The Globe says that the Toronto Stock Exchange ended nearly unchanged. "The optimism around, for the most part, better earnings results continues to carry the day and continues to keep the market in a positive bias," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. Shares in Chipotle Mexican Grill finished up 7.2 per cent after it topped analyst estimates for quarterly profit and sales on strong demand for its burritos and rice bowls even as menu prices rose. Ford shares rose 6 per cent as the automaker increased its first-quarter dividend and decided to scale back investments in new capacity for loss-making electric vehicles. The S&P/TSX Composite Index ended up 11.44 points at 20,969.18. The Canadian jobs report, due on Friday, is expected to show the economy adding 15,000 jobs in January. Shares of Finning were down 9.2 per cent after the heavy machinery provider missed analysts' estimates for fourth-quarter revenue.

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