Canada’s main stock index rebounded on Thursday, recouping half of the losses of the past two days, as stocks across a raft of sectors jumped after an upward revision in U.S. economic growth allayed fears of a recession. Major indexes on Wall Street were mixed, with the Dow outperforming and ending at a fresh record high.
The S&P/TSX composite index closed up 100.32 points, or 0.43%, to 23,227.30, moving back closer to the all-time high it reached on Monday.
U.S. gross domestic product for the second quarter grew at a 3% annualized rate on higher consumer spending, according to data released Thursday, quelling fears of an economic slowdown in the United States.
“This positive news has really solidified investors’ expectations for that optimistic soft landing,” said Candice Bangsund, vice president and portfolio manager, global asset allocation at Fiera Capital Corporation.
A soft landing is essentially a scenario where interest…
