The Canadian stock market continued to inch up for the seventh consecutive day after U.S. president Donald Trump’s remarks about his administration’s aggressive economic agenda boosted investor sentiment. The S&P/TSX Composite Index climbed by 123 points, or 0.5%, on Thursday to settle at 25,434 — its highest closing level in six weeks.
Despite intraday weakness in commodity prices, all key sectors ended the session in the green, with consumer and industrial stocks leading the TSX rally.
The Trump factor
Notably, Trump’s address at the World Economic Forum yesterday signalled a focus on deregulation, tax cuts, and rapid approvals for energy projects. His remarks that “with oil prices going down, I’ll demand that interest rates drop immediately” raised market hopes for the Federal Reserve’s interest rate decision scheduled for next week.
In an important statement about the corporate world, Trump said that his…
