TSX, Dow push higher as loonie also gains ground

TSX, Dow push higher as loonie also gains ground

Industrial stocks contributed the most to the market's gains. The Dow and S&P 500 also were recovering sharply, but the Nasdaq has been outperforming both of its peers, even after marking a four-day losing stretch on Thursday-its longest skid since November 4, 2016.

At 10:15 a.m. ET (15:15 GMT), the Toronto Stock Exchange'sS&P/TSX composite index was up 20.68 points, or 0.13 percent, at 15,544.69.

Baker Hughes said the number of active US rigs increased by three over the last week.

"We are looking for a confirmation, a technical confirmation the markets are on solid footing".

The Standard & Poor's 500 index rose 2.63 points, or 0.1 percent, to 2,703.96.

In contrast, shares of online retailer Amazon climbed 1.4 per cent.

Those gains faded, however, and major indexes finished well off session highs as investors exercised caution in what is likely to be a rising interest rate environment.

MWC 2018: Sony's First MWC 2018 Teaser
Onboard is a larger 5.7-inch HDR display alongside an aspect ratio of 18:9 and the familiar Corning Gorilla Glass 5 protection. With this phone, Sony Xperia made a decision to launch another phone of this series, named as Sony Xperia XZ2 Pro.

In New York, the Dow Jones industrial average was up 149.59 points to 25,112.07.

The initial market selloff in January was sparked after economic data raised worries the economy may overheat, causing a quick spike in bond yields and concern the Federal Reserve may become more aggressive in raising United States interest rates. The S&P 500 gained 1.6 percent to end at 2,747.30, with utilities and energy as the best-performing sectors.

"What is going on with Qualcomm and their bid for NXP is certainly making all the semiconductors look more attractive", said JJ Kinahan, chief market strategist at TD Ameritrade in Chicago.

Hewlett Packard Enterprise Co (NYSE:HPE), which saw its shares soar by as much as 19% after hours following the release of its market-busing first quarter results, has kicked off with a more demure rise, up 0.98% premarket.

The S&P 600 closed at 934.93 for a gain of 1.99 points or 0.21%.

Volume on USA exchanges was 6.81 billion shares, compared to the 8.44 billion average for the full session over the last 20 trading days.

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