The winning streak continued for Canada’s benchmark stock index Thursday, closing at a record high for its fifth straight session. The S&P 500 also ended at a record high, as U.S. Treasury yields fell following softer-than-anticipated labour market data, boosting technology and other growth stocks.
The S&P/TSX Composite Index closed at 19,228.87, up 99.80 points, or 0.52%. As on Wall Street, tech stocks fuelled much of the advance, with the sector gaining 2.72% overall. Both Shopify and BlackBerry enjoyed gains of just over 5%.
The TSX materials sector also had a strong session as gold prices advanced thanks to bond yields dropping and the U.S. dollar weakening against major currencies. The sector rose 1.51% and Barrick Gold 1.91%.
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Weekly U.S. initial jobless claims data showed a second straight rise, conflicting with the recent payrolls report, and buttressed the Federal Reserve’s dovish policy stance to keep interest rates lower for a …