Donald Trump: S&P 500 HITS ALL-TIME HIGH Congratulations USA
The Dow Jones and S & P 500 indexes ended at record highs on Thursday, supported by strong growth in technology stocks and a wave of confidence in the performance of the US economy. In Toronto, the benchmark index closed at its highest level since early September.
According to final closing results, the leading New York index, the Dow Jones Industrial Average, gained 0.95% to 26,656.98 points.
The broad S & P 500 index, comprising the 500 largest companies listed in the United States, advanced 0.78% to 2,930.75 points.
The Nasdaq, with strong technological color, rose 0.98% to 8,028.23 points.
The Toronto S & P / TSX Composite Index advanced 0.4% points to end the session at 16,214.75 points.
In the currency market, the Canadian dollar traded at an average price of 77.49 US cents, up from the previous day’s average of 77.24 cents US.
Technological values have, as often, led the dance on Wall Street. The sub-index that groups them within the S & P 500 advanced by 1.17%.
“It’s still a fantastic sector in terms of growth or profits. When you see a big step back as in the previous session, the rebound is usually very powerful, “commented Nate Thooft of Manulife AM.
The banking sector also advanced significantly as the day before, benefiting from the rise observed since several sessions on US interest rates, improving the financial prospects of these companies.
Despite a slowdown in the course of trading, the yield on 10-year Treasury bonds, benchmark on the bond market, posted near its highest since May at 3.065%, against 3.063% Wednesday at the close, the 30 years was 3,202%, against 3,210% at the previous closing, and the two years reached Thursday a new high since 2008 at 2,818%.
“Banks have disappointed a good part of the year on the stock market, investors are probably saying that it is time to consider a rotation as rates rise,” said Thooft.
On the front of the US economy, “the indices do not recede fundamentally when the main economic indicators are good,” said Maris Ogg Tower Bridge Advisors.
Philadelphia’s manufacturing growth picked up momentum in September and weekly jobless claims continued to drop to near 50-year lows.
Exceeded since the opening of Wall Street, the records on the S & P 500 and Dow Jones have visibly cheered Donald Trump, the US president rejoicing on Twitter: