CLOSING BELL: Dow skyrockets on financials, TSX gets boost from shrinking trade deficit
North American markets were higher today with positive export data and the materials sector pushing things up on Bay Street.
Stats Canada numbers showed the country’s trade deficit fell by roughly $3 billion to $1.9 billion between March and April. That decline came from a growth in exports.
The news helped push the TSX to a close of 16,183, up 61 points. The loonie got a lift from the data as well. It’s sitting a tenth of a cent higher at 77.18 cents U.S. in afterhours trading.
On Wall Street the financial sector helped power the Dow Jones to a big day as investors reacted positively to economic data, instead of focusing on looming trade war issues. The Dow closed the day at 25,146, up 346 points. And oil is down 50 cents to $65.02 U.S. per barrel, while gold is down $1.20 to $1,301 an ounce.