02:24:35 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



Globe/wire say TSX basks in Nvidia's reflected glow

2024-02-23 08:47 ET - In the News

The Globe and Mail reports in its Friday edition that Canada's main stock index closed at a 22-month closing high on Thursday, buoyed by gains in technology and health care stocks. A Reuters dispatch to The Globe says S&P/TSX Composite Index added 145.70 points at 21,318.08, its highest close since April 15, 2022. The Toronto Stock Exchange was tracking a record close on the Wall Street after chip designer Nvidia's strong quarterly results and forecast. The TSX's information-technology stocks led gains on the index with a 1.2-per-cent rise. Celestica jumped 12 per cent, the highest among the tech stocks, while Quebecor fell 2.4 per cent after reporting its fourth quarter results. The S&P 500 and Dow Jones Industrial Average both surged to close at record highs on Thursday, powered by investors piling into growth and technology stocks the day after artificial intelligence poster child Nvidia's bumper earnings and outlook. "The epicentre of today's rally is the IT sector, as evidenced by the performance of the megacap tech-heavy Nasdaq 100 index. Nvidia's bullish announcement has ignited a major rally in equity markets worldwide," said Brandon Michael, senior investment analyst at ABC Funds.

© 2024 Canjex Publishing Ltd. All rights reserved.