S&P/TSX composite index up in late-morning trading Tuesday, U.S. markets down
Canada’s main stock index, the S&P/TSX composite, finished narrowly positive on Tuesday, contributing to its all-time highs. The index rose 17.59 points to 36,475.92, with gains in utilities and industrial sectors driving the positive trend. Kevin Burkett, a portfolio manager at Burkett Asset Management, noted that markets are currently optimistic, particularly as they approach the end of summer.
Cargojet shares surged 8.59 per cent after reporting a $7 million second-quarter profit, while Cineplex Inc. declined 5.3 per cent despite achieving a profit, due to high costs of movie theatre attendance. Overall, the Canadian dollar was trading at 71.80 cents US, and oil prices were up, with December gold also showing gains. U.S. markets, however, were down, with the Dow Jones industrial average falling 184.13 points and the S&P 500 dropping 24.91 points.
Market attention was on Wednesday's U.S. inflation report, which could impact interest rates and the economy.
Written by urgent.news from Winnipeg Free Press's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
