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@ the Bell: Markets score much-needed rally

Jonathon Brown Jonathon Brown, The Market Online
0 Comments| August 29, 2024

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Canada’s main stock index moved higher on Thursday as mining and financial shares gained, but a drop in industrial and telecom shares capped some gains. Statistics Canada reported payroll employment numbers (employees receiving pay and benefits) decreased in June by 47,300 (-0.3 per cent).

U.S. markets ended the day divided as new weekly jobs and gross domestic product (GDP) data was interpreted by traders as supporting the case that a recession is getting less likely. Initial claims for state unemployment benefits fell 2,000 to a seasonally adjusted 231,000. The GDP grew at a 3.0 per cent annualized rate in Q2, an upward revision from the 2.8 per cent reported last month.

TSX 23,277.49 +100.51 Click to enlarge
TSXV 567.92 +2.20 Click to enlarge
CSE 146.85 +0.37 Click to enlarge
DJIA 41,335.05 +243.63 Click to enlarge
NASDAQ 17,516.43 -39.60 Click to enlarge
S&P 500 5,591.96 -0.22 Click to enlarge

The Canadian dollar traded for 74.16 cents U.S. compared with 74.21 cents U.S. on Wednesday.

U.S. crude futures traded $1.36 higher at $75.88 a barrel, and the Brent contract rose $1.35 to $80.00 a barrel.

The price of gold was down US$13.50 to US$2,521.35.

In world markets, the Nikkei was down 9.23 points to 38,362.53, the Hang Seng was up 93.87 points to 17,786.32, the FTSE was up 35.80 points at 8,379.65, and the DAX was up 120.41 points to 18,902.70.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.

(Top image generated with AI)




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