Markets report modest gains at opening bell
Posted Aug 12, 2011 8:27 am.
This article is more than 5 years old.
It’s been a wild roller coaster for investors the last few days, who received a bit of a break Friday morning at the opening bell.
North American markets opened with modest gains after some major losses in the last week.
The Dow started up 92 points, the NASDAQ up 13 while the S&P 500 had a boost of almost eight.
On this side of the border, the TSX also enjoyed a gain at the bell, up 50 points from Thursday.
CIBC World Markets Deputy Chief Economist Benjamin Tal tells 660News it’s a positive reaction for investors.
“The numbers are more or less at our expectations,” says Tal. “That’s very good; this market is extremely sensitive to negative news now.”
Analysts’ belief the boost is partly thanks to a sales report out from the United States for June.
Numbers were up despite glaring headlines from the American debt crisis, signaling consumers had more money to spend this summer.
Sales overall were up half a per cent which was in line with expectations.
It could spell a positive end to a very volatile week on the world markets.
The TSX this week has posted three straight gains and at Friday morning was on pace for its largest boost yet.
Many investors holding their breath, hoping Bay and Wall Streets will follow Europe’s lead, where all major indices were trading up two per cent on the day.
