Listen Live

HomeBusiness ReportAFTER THE BELL: TSX, Dow climb as markets rally from heavy losses

AFTER THE BELL: TSX, Dow climb as markets rally from heavy losses

Friday was a rallying day for global markets, including Toronto and New York.

Paced by a 4.2 percent jump in healthcare stocks, the TSX ended a five-day losing streak by moving 97 points higher.

Bolstering healthcare were key Cannabis producers Aurora, Canopy Growth, and Cronos.

Meanwhile, Industrials were led by a 4.9 percent increase in Bombardier shares.

- Advertisement -

Nine of the index’s 11 sectors finished on the plus side, including heavyweights energy and financials.

In New York, the Dow recovered from a two-day meltdown by jumping 287 points.

Stocks started to sink midweek as investors fretted over a jump in interest rates and how Chinese tariffs would impact America’s powerful tech companies.

The index lost 1,378 points over two volatile days on Wednesday and Thursday, but rallied in a big way, only pulling back slightly from a 400 point surge to open the day.

Tech giants rallied from yesterday’s steep losses, helping the Nasdaq climb 167 points.

Netflix skyrocketed 5.7 percent, Amazon jumped four percent, Apple was up 3.5 percent, and Microsoft rose 3.4 percent.

Oil rose 55 cents to $71.52 US a barrel as demand outweighed supply.

An OPEC report released Thursday noted that its crude production rose by 132,000 barrels a day in September, however, supply continues to cause some angst with U.S. sanctions on Iranian crude just weeks away.

The loonie was flat, losing 1/100ths of a cent to $0.7673 US as the greenback strengthened, while gold retreated from yesterday’s more than $33.00 jump, slipping $6.20 to $1,218 an ounce

- Advertisment -
- Advertisment -
- Advertisement -

Continue Reading