09:46:07 EDT Sat 05 Jul 2025
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Globe/wire say TSX has good day after Trump's flip-flop

2025-04-23 08:57 ET - In the News

The Globe and Mail reports in its Wednesday edition that Wall Street rebounded Tuesday as a spate of quarterly earnings reports and hints at the de-escalation of U.S.-China trade tensions brought buyers in from the sidelines. A Reuters dispatch to The Globe says the Toronto Stock Exchange also rose, but gains were roughly half that of Wall Street. A broad rally boosted all three major U.S. indices by more than 2.5 per cent, as investors looked past Mr. Trump's rhetoric against Federal Reserve chair Jerome Powell, who is widely considered a stabilizing force for the markets. The Dow rose 1,016.57 points, or 2.66 per cent, to 39,186.98. But having been battered for weeks by the White House's erratic and multifront tariff disputes, the S&P 500 remains nearly 14 per cent below its record closing high reached on Feb. 19. Among U.S. stock moves, shares of industrial conglomerate 3M Co. jumped 8.1 per cent after the company posted a better-than-expected first-quarter profit, though it flagged a likely hit to 2025 profit from tariffs. The S&P/TSX Composite Index ended up 297.12 points at 24,305.98. Financials were up 2 per cent and energy added 2.1 per cent as oil settled 2 per cent higher at $64.31 (U.S.) a barrel.

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