“Holding An Olympic Games Means Evoking History” -Pierre de Coubertin
Stocks Soar Following Strong Jobs Report
Canada’s main stock index had its largest one-day gain in a month on Friday as financial and resource shares were boosted after the U.S. economy added more jobs than expected in July, easing concerns about the health of the world’s largest economy. The July labour report came in better than expected, with total U.S. nonfarm payrolls up by 163,000, better than the 100,000 gain that was projected. The Dow Jones industrial average increased 215.96 points to 13,094.84 and the broader S&P was up 25.37 points to 1,390.37. Nasdaq gained 56.89 points at 2,966.66. Another data point released this morning on services-sector activity served to reassure investors that the world’s largest economy is moving in the right direction. The Institute for Supply Management said its manufacturing index ticked up to 52.6%, ahead of consensus estimates for a 52% increase in July. Readings over 50 for the index signify expansion. The Toronto Stock Exchange’s S&P/TSX composite index closed up 155 points, or 1.3 percent, at 11,662.29. It was the index’s biggest single-day percentage gain since July 3, when it spiked 2.2 percent.
Market Update as of August 3 2012
The TSX closed at 11662, down -104 points or -0.88% over the past week. YTD the TSX is down -2.45%.
The DOW closed at 13096, up 20 points or 0.15% over the past week.YTD the DOW is up 7.19%.
The S&P closed at 1391, up 5 points or 0.36% over the past week.YTD the S&P is up 10.57%.
The Nasdaq closed at 2968, up 10 points or 0.34% over the past week.YTD the Nasdaq is up 13.93%.
Gold closed at 1603, down -19.00 points or -1.17% over the past week.YTD gold is up 2.43%.
Oil closed at 92.9, up 0.92 points or 1.00% over the past week.YTD oil is down -6.07%.
The USD/CAD closed at 1.0016, up 0.0045 points or 0.45% over the past week.YTD the CAD/USD is up 2.22%.
Sources: Bloomberg; TD; advisor.ca.