The close: TSX gains but Wall Street surrenders earlier rally to end lower [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
The close: TSX gains but Wall Street surrenders earlier rally to end lower Global stocks were mixed in a volatile session ahead of key earnings from U.S. technology giants, touching fresh multi-week highs early in the day even as the recovery continues to raise questions about stretched equity valuations, declining corporate profits and the deteriorating health of the economy. The S&P 500 rallied to a seven-week high of 2,921.15 early on Tuesday, before surrendering its gains. It closed at 2,863.39, down 0.5 per cent. Despite the late-day dip, the move left the U.S. benchmark nearly 31 per cent above its recent nadir on March 23, a remarkable gain in the face of ongoing uncertainty over the impact of the novel coronavirus pandemic, which has shuttered much of the global economy. Canada’s S&P/TSX Composite Index rose 183.62 points or 1.3 per cent, hitting its highest level since mid-March. From its low on March 23, the benchmark has risen more than 32 per cent. The latest market moves
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