It was an auspicious start to the week Monday with the Nasdaq setting its first record since February, as investors looked ahead to a busy week of earnings reports from some of tech’s biggest names.
By Monday’s close, the Nasdaq climbed 122 points, the S&P added 7, and the TSX rose 68. The Dow, however, dropped slightly, surrendering 62. The loonie also had a strong showing Monday, hitting its highest level in six weeks against the greenback (80.39 cents US).
North American markets, however, were essentially flat on Tuesday, registering nominal losses or gains. The S&P 500 ended the day in the red (just slightly) for the first time in three sessions, while the Nasdaq dropped 48 points. As of Tuesday, about a third of S&P 500 companies had reported earnings, with roughly 88% topping analysts’ expectations. U.S. indexes were all in the red Wednesday despite the Federal Reserve’s pledge to maintain its loose monetary policy for the foreseeable future. The TSX, however, bucked the trend, ending with a strong 182-point gain, buoyed by surging Shopify shares and rising oil prices. The loonie rose against the greenback again on Wednesday — at one point climbing above 81 cents US — as Canadian investors cheered domestic retail sales data.
source https://richarddri.ca/market-optimism-growing-as-u-s-recovery-gains-steam/
Dri Financial Group 