Stock markets rise as investors warm to idea of Trump U.S. presidency
TORONTO — Canada’s biggest stock market rose while Wall Street hovered around record levels Wednesday, as investors warmed to the idea that the victory of U.S. president-elect Donald Trump will be good news to business on both sides of the border.
The optimistic tone helped push the resource-heavy S&P/TSX composite index higher by 103.07 points at 14,759.91, led by a strong rally in the gold, metals and materials sectors.
The bounce in the stock market came as a surprise as most had been expecting a gloom and doom scenario if the brash, billionaire clinched the White House over Democrat candidate Hillary Clinton.
But at the open, the picture that emerged was one of cautious hope on Bay Street and Wall Street.