Canada’s main stock index gained almost 100 points Thursday, helped by gains in industrial and utilities stocks, while U.S. stock markets also rose.
Markets steadily climbed throughout the day in a starkly different mood from Wednesday, when they suddenly spiked in the afternoon and then erased all those gains before the close.
Wall St. managed to erase most of its losses for the week, with the Nasdaq gaining 1.5 per cent.
Wednesday saw the U.S. Federal Reserve announce it is holding its key interest rate steady again until it has more confidence that inflation is on the right track.
“Today is kind of the digestion day,” said Konstantin Boehmer, head of fixed income at Mackenzie Investments.
The S&P/TSX composite index closed up 94.67 points at 21,823.22.
In New York, the Dow Jones industrial average was up 322.37 points at 38,225.66. The S&P 500 index was up…
