Canadian stocks soared to new heights on Thursday as strong second-quarter U.S. GDP (gross domestic product) growth figures and optimism over the Federal Reserve’s recent rate cut lifted investors’ sentiments. The S&P/TSX Composite Index inched up by 128 points, or 0.5%, to settle at 24,034 — closing above the key 24,000 level for the first time in history.
Despite steep declines in crude oil prices pushing energy stocks lower, strong gains in sectors like mining, consumer cyclicals, and technology propelled the TSX to a historic close.
Top TSX Composite movers and active stocks
BlackBerry (TSX:BB) rallied by 6.8% to $3.45 per share, making it one of the top-performing TSX stocks for the day. Besides the broader market optimism, another potential reason for BB stock’s rally could be investors’ high expectations for its quarterly financial results, which were released after the market closing bell.
In the August quarter,…
