Market Update

July 16, 2019

Latest market wrap
The close: U.S. indexes nudge further into record territory
The close: U.S. indexes nudge further into record territory
The S&P/TSX composite index closed up 22.70 points to 16,510.82 on a day when the Wall Street indexes pressed further into record territory.

Canada’s health-care sector got a boost from a rebound in shares of CannTrust Holdings Inc., which rose 19 per cent after its freefall last week. Notable losers in an otherwise steady day of trading were Stella-Jones Inc., down 6 per cent after announcing its CEO is stepping down, and Cameco Corp, which fell nearly 8 per cent after the company received lower-than-expected damages in a ruling related to a dispute with Tokyo Electric Power Company Hold Inc.

A wobbly day of trading ended with meagre gains for U.S. stock indexes on Monday, enough to nudge them further into record territory, as the curtain rose on what’s expected to be the weakest earnings reporting season in years.

Financial stocks fell even though Citigroup said it made more money last quarter than analysts expected. Energy stocks were also weak, but gains for technology and health care stocks helped tip the S&P 500 and other indexes past the highs set on Friday.

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