TORONTO –
North American stock markets continued their July recoveries despite early pressure Thursday from lower crude oil prices and Europe’s central bank raising interest rates for the first time in 11 years.
The S&P/TSX composite index closed up 42.18 points to 19,062.85 after hitting an intraday low of 18,870.76. It is up 1.1 per cent so far this month after falling nine per cent in June.
In New York, the Dow Jones industrial average was up 162.06 points at 32,036.90. The S&P 500 index was up 39.05 points at 3,998.95, while the Nasdaq composite was up 161.96 points at 12,059.61.
Technology was the star of the day on the TSX, climbing 2.1 per cent with Shopify Inc. adding another 4.8 per cent.
“It’s the most positive trend we’ve seen in technology in probably in six, seven, eight months,” said Michael Currie, vice-president and investment adviser at TD Wealth.
U.S. markets are up even…
