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S&P/TSX Ends Slightly Higher, U.S. Markets Also Close in Positive Territory
U.S. stocks rebounded late in the session as crude oil fell below $100 a barrel and gold futures climbed, easing earlier risk-driven selling.
- Canada's main stock index ended more than 200 points higher on Thursday, May 21, while major U.S. indexes recovered from earlier losses as oil prices retreated.
- Oil prices topped US$100 earlier in the day before giving back amid signs of a diplomatic off-ramp in the Middle East, following U.S.-Iran tensions that initially drove market declines.
- Market analyst Crowther said, "The fear of rising inflation has also moved into the narrative," as investors digest the prospect of sustained elevated oil prices.
- Elevated oil prices favor Canadian commodity producers to cash in higher profits, Crowther said, even as Nvidia faces investor scrutiny over its artificial intelligence business models.
- Investors previously expected the Middle East conflict to resolve by now, but the protracted situation is forcing market participants to adjust to sustained, higher energy costs.
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9 Articles
Bowen Island Undercurrent+2 Reposted by 2 other sources
S&P/TSX ends slightly higher, U.S. markets also close in positive territory
TORONTO — Canada’s main stock index ended modestly higher on Friday, while U.S. markets also closed in positive territory, even as consumer data stoked inflationary fears. The S&P/TSX composite index was up 61.87 points at 34,471.
Moose Jaw Today+2 Reposted by 2 other sources
S&P/TSX composite ends higher, U.S. markets recover from earlier losses
TORONTO — Canada’s main stock index ended more than 200 points higher while U.S. markets recovered from earlier losses as oil prices retreated. The S&P/TSX composite index was up 247.67 points at 34,409.49 on broad-based gains.
The Toronto Star+2 Reposted by 2 other sources
S&P/TSX composite up nearly 100 points as oil tops US$100 a barrel
TORONTO - Canada's main stock index was up nearly 100 points in late-morning trading, helped by strength in the energy sector as the price of oil once again topped US$100
·Toronto, Canada
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Total News Sources9
Leaning Left4Leaning Right0Center2Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
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