06:25:10 EDT Thu 02 May 2024
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Globe/wire say TSX ends flat as Alphabet gets AI boost

2024-03-19 08:53 ET - In the News

The Globe and Mail reports in its Tuesday edition that Wall Street's main indexes advanced on Monday, with megacap growth stocks such as Alphabet and Tesla supporting a rebound in Nasdaq while the U.S. Federal Reserve geared up for a meeting this week. A Reuters dispatch to The Globe says that the Canadian benchmark stock index was flat, closing slightly in negative territory. Google's parent Alphabet provided a sizable boost to the U.S. market after a media report that Apple is in talks to build Google's Gemini AI engine into the iPhone. Alphabet shares closed up 4.4 per cent. Tesla shares finished up 6.3 per cent, leading S&P 500 percentage gains, after the electric carmaker said it would soon increase the price of its Model Y in parts of Europe. Nvidia shares added 0.7 per cent but closed well below its session high. The artificial-intelligence poster child kicked off its annual developer conference as investors waited for new chip announcements. The S&P/TSX Composite Index ended down 11.97 points. Canadian investors were also awaiting domestic inflation data on Tuesday that could offer clues on the Bank of Canada's policy outlook. The oil price rose to a four-month high at $82.72 (U.S.) a barrel.

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