05:20:15 EDT Tue 22 Oct 2024
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Globe/wire say TSX cracks 24,000 for the first time

2024-09-27 08:13 ET - In the News

The Globe and Mail reports in its Friday edition that Canada's commodity-linked main stock index closed above the 24,000 threshold for the first time on Thursday as China's assurance of more stimulus offset pressure on energy shares after oil prices tumbled. A Reuters dispatch to The Globe says the S&P 500 also scored a record high, as a surge in Micron Technology shares and a strong U.S. jobless claims report eased concerns about the labour market. The S&P/TSX Composite Index ended up 127.95 points at 24,033.83, eclipsing the record closing high it posted on Tuesday. China plans to issue special sovereign bonds worth about two trillion yuan ($384-billion) this year as part of a fresh fiscal stimulus. The materials sector was up 1.5 per cent as gold extended its record-setting run and copper jumped more than 3 per cent. Technology in Toronto rose 2 per cent, tracking gains for Nasdaq, up 108.09 points, after Micron Technology's upbeat first-quarter forecast. Consumer discretionary was also a standout, adding 1.8 per cent, as shares of auto-parts supplier Magna International clawed back much of the previous day's decline. Energy fell as the price of oil settled 2.9 per cent lower at $67.67 (U.S.) a barrel.

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