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TSX Modestly Higher, Set For Another Positive Close
(RTTNews) - The Canadian market looks set to end on a positive note on Wednesday thanks to strong gains in industrials and technology sectors.
Concerns about tariff threats by U.S. President Donald Trump appear to be limiting market's upside. The U.S. President has repeated his threat to impose tariffs on imports from European countries. He also said his administration was discussing imposing an additional 10% tariff on goods imported from China, starting in February.
Tech stocks are gaining in strength thanks to upbeat sales and earnings reported by Netflix, and Oracle's continued rise on U.S. President Donald Trump's announcement of a private sector investment of up to $500 billion to fund artificial intelligence infrastructure.
The benchmark S&P/TSX Composite Index is up 70.87 points or 0.28% at 25,352.50 with about an hour to go for the closing bell.
Technology stocks Sylogist (SYZ.TO) and Celestica Inc (CLS.TO) are up 6.3% and 3.7%, respectively. Coveo Solutions (CVO.TO), Enghouse Systems (ENGH.TO), Descartes Systems Group (DSG.TO), Contellation Software (CSU.TO), BlackBerry (BB.TO) and CGI Inc (GIB.A.TO) are up 1 to 2%.
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