All US indices ended lower, ending the Dow Jones’ record-breaking series. Toronto took the opposite path to end up rising.
Here is the update on the situation at the close of markets:
- In Toronto the S & P / TSX gained 32 points or 0.22% to 14,565
- On Wall Street, the S&P shed 7.85 points or 0.36% to 2165
- The Dow Jones lost 77.80 points or 0.42% to 18,517
- The Nasdaq fell 16 points or 0.31% to 5,073
- The Canadian dollar gained 0.17% or 76.40 cents.
- The ounce of gold appreciated 1% to US $ 1332.
In Toronto, the materials sector gained 2.4%, the best gain. Conversely, the consumer staples sector fell the most, at 0.50%.
The title of Rogers Communications(Tor., RCI.B) finished up 3.86% and hit a 52-week high. The company achieved better-than-expected profit in its second quarter. The Toronto cable operator posted adjusted earnings of $ 0.83 per share, compared to $ 0.80 per share in the same period last year. On average, analysts were aiming for earnings of $ 0.81 per share.
Analysts look back on the second quarter results of the Canadian Pacific(Tor., CP). Steve Hansen of Raymond James reiterates his strong buy recommendation for the stock and raises his target from $ 200 to $ 220. Scotiabank’s Turan Quettawala raised his target to $ 210. The title fell 0.73%. Read the headlines to watch from François Pouliot.
On Wednesday, the New York Stock Exchange rose, with today’s results proving sufficiently encouraging that the Dow Jones (+ 0.19%) broke a record for the seventh session in a row at 18,595.03 points, with the Nasdaq taking 1 , 06% to 5,089.93 points.
“Investors have found excuses to take profits, both in company results and lower oil prices,” said Peter Cardillo, chief economist at First Standard Financial.
While the black gold market retreated amid continued concern over the high level of supply, today’s business results were rather mixed, including disappointment from IT group Intel. (-3.98% to 34.27 dollars).
The indices nevertheless remain at a high level, in the first place the Dow Jones which had ended the seven previous sessions at unprecedented levels.
“After its recent surge, it’s no wonder the stock market is catching its breath,” said Bill Lynch of Hinsdale Associates.
He noted that Thursday’s US indicators, numerous on the calendar, had appeared “generally positive”, whether on employment or the real estate sector.
Finally, at the international level, investors digested the inconclusive announcements from the European Central Bank (ECB) which has so far not changed its policy, even if it warned that it could in the future provide greater support to the economy
After falling at the start of the session, the bond market recovered. Around 8:20 p.m. GMT, the yield on 10-year Treasury bills fell to 1.554% against 1.579% on Wednesday evening, and that of 30-year bills to 2.288% against 2.301% previously.
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