TORONTO — Canada’s main stock index gained just over 50 points on Thursday, helped by strength in utilities and base metals, while U.S. markets were mixed. The prospect of interest rates in the U.S.
TORONTO — Canada’s main stock index gained just over 50 points on Thursday, helped by strength in utilities and base metals, while U.S. markets were mixed.
The prospect of interest rates in the U.S. remaining higher for longer continues to cast a shadow over equity markets, fostering cautious sentiment, said Ryan Crowther, portfolio manager at Franklin Templeton Canada.
“I think the fixation on rate cuts is driving the narrative,” he said.
In New York, the Dow Jones industrial average was up 22.07 points at 37,775.38. The S&P 500 index was down 11.09 points at 5,011.12,while the Nasdaq composite was down 81.87 points at 15,601.50.
The S&P/TSX composite index closed up 52.39 points at 21,708.44.
While the TSX got a…
