TORONTO – Canada’s main stock index gained almost one per cent on Tuesday, boosted by financial and technology stocks, while U.S. stock markets also climbed higher, led by a 2.4-per-cent gain on the Nasdaq.
“Last week brought the storm cloud, and this week, we’re getting back to a little bit more sunshine, with markets continuing to recover,” said Craig Fehr, head of Investment Strategy for Edward Jones.
Markets were spooked last week by fears that the rally so far this year has been overblown and that a recession is around the corner, said Fehr.
But so far this week those concerns have largely reversed, he said, with the pendulum swinging back toward focusing on the fight against inflation and the interest rate cuts expected soon.
“That’s been the source of optimism for nearly the entirety…
