The close: S&P 500 at record high but TSX sags as energy, financials weigh [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
The close: S&P 500 at record high but TSX sags as energy, financials weigh The S&P 500 and Nasdaq closed at record highs on Thursday, propelled by optimism about more pandemic relief under the Biden administration to support the economy after data showed a tepid labour market recovery. Investors in the Canadian benchmark index weren’t quite as lucky, with the heavyweight energy and financial sectors on the decline. The S&P/TSX Composite Index closed down 98.71 points, or 0.55%, at 17,916.20. The number of Americans filing new applications for unemployment benefits dipped to 900,000 last week but still remained stubbornly high as the COVID-19 pandemic tears through the nation, raising the risk that the economy will shed jobs for a second straight month in January. But other data showed the housing and manufacturing sectors as areas of strength to help buttress the economy. “We’ve had a very strong momentum going into this year and coming into the Biden administration... because of pros
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