TORONTO — Canada's main stock index rose 1.2 per cent Wednesday on broad-based strength, while U.S. stock markets were mixed after they closed early ahead of the July 4 holiday.“The TSX has jumped on its monthly high on the back of soft U.S. job market data that pushed bond yields down,” said Brianne Gardner, senior wealth manager at Velocity Investment Partners at Raymond James Ltd.
Friday will bring the major monthly jobs report, and markets will be looking for signs of continued cooling in the labour market. However, though the market is still narrow, there are signs of broadening strength that Gardner expects will continue in the second half of the year, especially once the U.S. Federal Reserve starts cutting interest rates.
Just one day shy of the July 4th festivities, the market will be on vacation tomorrow but not before clocking out one more trading session. Brad Smith and Madison Mills walk investors through the opening bell in today's shortened trading day. Get your flip-flops ready and grab a beer this holiday because Corona maker Constellation Brands reported its first-quarter earnings, topping profit estimates but coming just short on the revenue front.