TORONTO — Canada's main stock index posted a gain Monday, helped by strength in financial stocks, while U.S. stock markets were mixed. The S&P/TSX composite index closed up 67.10 points at 22,126.13.
TORONTO — Canada's main stock index posted a gain Monday, helped by strength in financial stocks, while U.S. stock markets were mixed.In New York, the Dow Jones industrial average was down 31.08 points at 39,344.79. The S&P 500 index was up 5.66 points at 5,572.85, while the Nasdaq composite was up 50.98 points at 18,403.74.
U.S. equities rose to new records Friday after the latest employment report came in weaker than expected, sparking hope for interest rate cuts.This week will bring comments from U.S. Federal Reserve chair Jerome Powell as he addresses Congress Tuesday and Wednesday. Investors will try to read his comments and tease out any new information on when the central bank could start cutting rates, said Zechner.
The Fed is still looking for more concrete proof that inflation is headed toward its two-per-cent target, said Zechner. “It seems no doubt that the next move in interest rates is lower. It’s just when, and I don’t think July.”
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