AFTER THE BELL: Rallying day as easing trade tensions lift TSX, Dow
After triple digit losses on Tuesday, both the TSX and the Dow bounced back in a big way today.
On Bay Street, the TSX regained its footing from yesterday’s two-month low, finishing 77 points higher with eight of 11 sectors in positive territory.
Boosting investors’ confidence on both sides of the border was news of the U.S. and China resuming trade talks later this month.
The easing trade tensions was a major driver in the Dow spiking 396 points, or nearly 1.6 percent, which put the index on track for its largest one-day gain since April 10.
The Nasdaq also had a positive day, finishing 32 points in the green.
Oil moved up 46 cents to $65.47 US a barrel while gold plunged to a 19-month low, down $4.50 to $1,173 an ounce.
The loonie was relatively flat, down 9/100ths of a cent to $.07599 cents US.
Meanwhile, it was a very good day for a retail giant. Walmart stocks jumped 9.3 percent after the company Q2 earnings results topped analysts’ expectations. Walmart’s sales rose 4.5 percent in Q2, which marks its strongest growth in 10 years.