01:59:35 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



Globe/wire say Gildan helps give TSX a boost

2024-03-20 09:15 ET - In the News

The Globe and Mail reports in its Wednesday edition that Wall Street's major indexes closed higher on Tuesday as investors looked ahead to the U.S. Federal Reserve's policy meeting conclusion today for clues on interest rate policy. A Reuters dispatch to The Globe says that Canada's main stock index also rose, helped by higher oil prices and a sharp increase in the shares of Gildan Activewear, but the index's gains were kept in check by weakness in the materials sector. Shares in Nvidia pulled out of the red to close up 1 per cent after it revealed pricing and shipment plans for its hotly anticipated Blackwell B200 artificial intelligence chip, which it says could be 30 times faster than current chips. Investors were preparing a day ahead of the Fed's policy update, including a press conference from chair Jerome Powell. Robust inflation data has pulled back bets for the first rate cut in June to about 59 per cent from about 69 per cent at the start of last week. The S&P/TSX Composite Index ended up 23.4 points at 21,860.58. The consumer discretionary sector climbed 1.6 per cent, led by a gain of 10.8 per cent for the shares of Gildan Activewear after the company decided to put the clothing maker up for sale.

© 2024 Canjex Publishing Ltd. All rights reserved.