TORONTO – Canada’s main stock index rose Tuesday near the end of the trading day, erasing earlier losses as energy and base metals helped offset weakness in telecom, while U.S. stock markets also climbed higher.
The S&P/TSX composite index closed up 78.01 points at 21,953.80.
In New York, the Dow Jones industrial average was up 162.33 points at 39,331.85. The S&P 500 index was up 33.92 points at 5,509.01, while the Nasdaq composite was up 149.46 points at 18,028.76.
“It does feel like markets are drifting higher,” said Mona Mahajan, senior investment strategist at Edward Jones, noting that July is seasonally a stronger month for markets.
Equities are being helped by an easing in Treasury yields, she said.
“We had a big move higher the last few days. So I think it’s welcome relief.”
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