08:40:10 EDT Sun 05 May 2024
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Globe/wire say TSX nudges up amid "nasty" April market

2024-04-23 08:49 ET - In the News

The Globe and Mail reports in its Tuesday edition that Wall Street stocks ended higher on Monday as investors eyed a busy week for quarterly results from key companies that would provide a glimpse of the U.S. economy's health. A Reuters dispatch to The Globe says that the Toronto Stock Exchange also rose. The benchmark S&P 500 and Nasdaq rebounded from a decline over the past six sessions which had been caused by investors re-evaluating their expectations on interest-rate cuts in the wake of strong economic data, geopolitical tensions, persistent inflation and commentary from Federal Reserve officials. The advance in the Canadian benchmark index was helped by gains for technology and financial shares, as investor sentiment showed signs of recovering after a rough period for the market since the start of April. "The sentiment in April has been really nasty," said Barry Schwartz at Baskin Financial. Markets were gearing up for quarterly results from megacap companies this week, including Tesla, Meta, Alphabet and Microsoft. The S&P/TSX composite ended up 64.59 points at 21,871.96, its fourth straight day of gains. Celestica added 5.2 per cent after RBC and BMO analysts raised their target prices on the stock.

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