00:05:51 EDT Thu 03 Jul 2025
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Globe/wire say TSX moves up despite Scotiabank's miss

2024-12-04 09:04 ET - In the News

The Globe and Mail reports in its Wednesday edition that the S&P 500 and Nasdaq eked out record closing highs on Tuesday, with tech-related shares extending recent gains as investors awaited further U.S. jobs data. A Reuters dispatch to The Globe says the S&P/TSX Composite Index ended higher, but just short of another record, with gains for resource shares offsetting disappointing results from Bank of Nova Scotia. Market watchers digested reassuring comments from Federal Reserve policy-makers. Two policy-makers said they see inflation heading down to the U.S. central bank's 2-per-cent target and that the job market is "solid." They stayed away from signalling whether they would support another interest-rate cut later this month. Investors will pay close attention to the U.S. monthly employment report on Friday. They also are keen to see other U.S. data this week, including a November reading of private payrolls and the Institute for Supply Management's services report. Canadian jobs data for November also arrives Friday. Markets see a 72-per-cent chance for a 25-basis-point rate cut at the Fed's Dec. 17-18 policy meeting. Scotiabank shares fell 3.4 per cent as the bank reported earnings below expectations.

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