22:37:44 EDT Thu 16 May 2024
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Globe/wire say TSX ends flat ahead of BOC decision

2024-03-05 09:17 ET - In the News

The Globe and Mail reports in its Tuesday edition that U.S. and Canadian stock indexes closed slightly lower Monday after a choppy trading day as investors took a pause ahead of economic data, U.S. Federal Reserve chair Jerome Powell's congressional testimony and the latest interest-rate decision by the Bank of Canada. A Reuters dispatch to The Globe says that rallies in chip stocks, including Nvidia, helped advance the S&P 500 to fresh intraday records during the session as investors continued to bet on demand for products powering artificial intelligence even though they were broadly cautious ahead of economic data. Apple closed down 2.5 per cent after a $2-billion (U.S.) European Union antitrust fine for preventing Spotify and other music streaming services from informing users of payment options outside its Apple App Store. Investors were waiting for insights into the U.S. economy's health from key monthly data such as readings on the service sector, due on Tuesday, and non-farm payrolls data due on Friday. The S&P/TSX Composite Index ended essentially flat at 21,531.07, down 21.28. The Canadian central bank is widely expected to leave its benchmark rate on hold at a 22-year high of 5 per cent on Wednesday.

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