00:16:01 EDT Thu 03 Jul 2025
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Globe/wire say TSX adds 52 points amid sour U.S. mood

2025-02-26 09:02 ET - In the News

The Globe and Mail reports in its Wednesday edition that stocks struggled on Tuesday, with the S&P 500 and Nasdaq touching one-month lows as a dour U.S. consumer confidence report added to mounting economic uncertainties. A Reuters dispatch to The Globe says the S&P 500 and Nasdaq both notched their fourth consecutive sessions in the red, while the Dow ended the day modestly higher. The mood of the consumer, who props up about 70 per cent of U.S. GDP, has dimmed considerably in February. The S&P/TSX Composite Index ended up 52.72 points at 25,203.98. Financials advanced 0.8 per cent as BMO and Scotiabank beat analysts' expectations for quarterly profit. Shares of BMO rose 4.7 per cent, while Scotiabank was down 1.2 per cent. Consumer staples added 1.6 per cent, helped by a gain of 10.6 per cent for Maple Leaf Foods after fourth-quarter earnings beat estimates. Real estate and utilities gained ground as bond yields fell. The Canadian dollar weakened to a near two-week low at 69.93 U.S. cents as investors grew more worried that U.S. trade tariffs will be implemented. President Donald Trump said Monday that tariffs on Canadian and Mexican imports are "on time and on schedule" ahead of a March 4 deadline.

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