19:18:26 EDT Fri 04 Jul 2025
Enter Symbol
or Name
USA
CA



Globe/wire say TSX caps week on a high note

2025-05-05 08:52 ET - In the News

The Globe and Mail reports in its Saturday edition that Wall Street extended its gains to a ninth straight day Friday, marking the stock market's longest winning streak since 2004. A Reuters dispatch to The Globe says that Canada's main stock index also advanced. The rally was spurred by a better-than-expected report on the U.S. job market and resurgent hope for a ratcheting down in the U.S. trade showdown with China. The S&P 500 climbed 1.5 per cent. Technology stocks were among the companies doing the heaviest lifting. Microsoft rose 2.3 per cent and Nvidia rose 2.5 per cent. Apple, however, fell 3.7 per cent after the iPhone maker estimated that U.S. tariffs will cost it $900-million (U.S.). Employers added 177,000 jobs in April. That marks a slowdown in hiring from March, but it was better than economists expected. The latest job figures do not yet reflect the effects of President Donald Trump's across-the-board tariffs against America's trading partners. The S&P 500 slumped 9.1 per cent during the first week of April as Mr. Trump escalated his trade war with more tariffs. Strong earnings reports have helped claw back those losses. The S&P/TSX Composite Index ended at 25,031.51, up 235.96 points.

© 2025 Canjex Publishing Ltd. All rights reserved.