TSX ended 0.76% up after 6-day losing streak, with positive momentum and strong sector performance.

From Nasdaq: 2024-12-20 18:33:46

The Canadian market closed higher on Friday, ending a 6-day losing streak, as the slower pace of acceleration in the PCE price index raised hopes for more interest rate cuts by the Federal Reserve. The S&P/TSX Composite Index gained 0.76% to close at 24,599.48 after falling to 24,250.02 earlier in the day. Retail sales in Canada increased 1.5% in October, with expectations for no change in November. Healthcare, real estate, and technology stocks saw significant gains, with BlackBerry reporting better-than-expected earnings. Materials and utilities stocks also performed well, with First Quantum Minerals leading the way.

Overall, the market showed positive momentum on Friday, with various sectors experiencing gains after a week of losses. Healthcare, real estate, and technology stocks were among the top performers, with BlackBerry reporting strong Q3 earnings. Retail sales in Canada showed growth in October, with expectations for stability in November. Materials and utilities sectors also saw gains, with First Quantum Minerals leading the way. The positive market close may signal a potential turnaround after recent declines, with investors keeping a close eye on future developments.



Read more at Nasdaq: TSX Snaps 6-day Losing Streak, Ends 0.76% Up