Photo : Bloomberg
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Wall Street is on fire. Investors love what they hear: President Barack Obama talks about progress in negotiations to raise the debt ceiling, and Coca-Cola and IBM’s results are welcomed.
The Dow Jones experienced its strongest advance of the year. The S&P 500 posts its biggest gain since March 3. The Nasdaq, meanwhile, is on fire with a gain of more than 2%, the largest since October.
Proportionately, the S & P / TSX in Toronto follows behind with a rise of about a third of that seen by the S&P 500 in New York.
The market remains volatile and sensitive to changes in investor mood. “I listened to the speech of the American president, and I do not have the impression that the crisis is about to be resolved,” comments Stephen Gauthier, strategist and senior manager at Fin-Xo Securities. It should be mentioned, however, that the results of American companies have been surprisingly good so far. ”
Moreover, the summer period would promote volatility. “The volume of exchange is low, because several investors are on vacation,” notes the strategist. This amplifies bullish movements, like bearish. ”
At closing, here is the state of play in Toronto and New York:
– The S & P / TSX gained 78 points, or 0.59%, to 13,332 points;
– The S&P 500 rose 21 points, or 1.63%, to 1,326 points;
– The Dow Jones adds 202 points, or 1.63%, to 12,587 points;
– The Nasdaq takes 61 points, or 2.22%, to 2,826 points;
– A barrel of oil ignites US $ 1.78, or 1.86%, to US $ 97.71;
– The ounce of gold depreciates by US $ 14.50 to US $ 1,587.90;
– The Canadian dollar appreciates 0.89 cents US, or 0.85%, to 105.17 cents US.
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