Canadian stocks notched fresh record highs before going into the long holiday weekend on Thursday, as much better-than-expected GDP (gross domestic product) growth numbers from the United States gave investors another reason to cheer. After touching a fresh intraday record high of 22,221, the S&P/TSX Composite Index ended the session with a gain of 60 points, or 0.3%, at 22,167 — marking its highest closing level ever.
Even as some technology and industrial stocks witnessed weakness, strength in other sectors like mining, energy, and financials took the spotlight, propelling the TSX to new records. With this, the Canadian market benchmark closed March with 3.8% gains, registering a fifth consecutive winning month.
According to the U.S. Bureau of Economic Analysis’s third estimate, the U.S. real GDP grew by 2.5% in 2023, largely driven by consumer spending, investments in business infrastructure, and government spending,…
