U.S. Markets Hit Pause Button After Strong Monday; TSX Winning Streak Ends
Market watch – February 12, 2021
February 17, 2021
After a strong bounce-back week, N.A. equity markets continued climbing Monday, with U.S. and Canadian stocks hitting record highs again. The S&P 500 and the Dow posted their sixth consecutive winning session, while the TSX closed up 194 points, boosted by the energy, materials and technology sectors. It was an even better day for small caps, which outgained their larger peers.
While hopes for a sizable U.S. stimulus package have helped investor sentiment, markets have also been lifted by upbeat earnings. Of the nearly 300 companies on the S&P 500 that had reported by early Monday, more than 80% had beaten analysts’ expectations for Q4, according to FactSet. While it was a quiet Tuesday in the U.S., with all three major indexes essentially flat, the TSX posted another strong session, adding 78 points.
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