Stockhouse @ the Bell: Stocks rise as traders look to U.S. jobs data, European Central Bank aid

Canadian Press, The Canadian Press
0 Comments| June 4, 2014


TORONTO _ The Toronto stock market closed higher amid strong hopes for eurozone stimulus measures and positive U.S. jobs growth.

The S&P/TSX composite index was ahead 62.1 points to 14,796.79.

Markets are counting on the European Central Bank to announce measures Thursday aimed at giving a lift to the eurozone's weak recovery and saving the region from falling into a deflationary spiral that would choke off growth.

The Canadian dollar was down 0.24 of a cent to 91.42 cents as the Bank of Canada announced it was keeping its key interest rate unchanged at one per cent.

U.S. indexes were higher despite a disappointing read on private sector job creation during May. The Dow Jones industrials climbed 15.19 points to 16,737.53, the Nasdaq gained 17.56 points to 4,251.64 and the S&P 500 index was 3.64 points higher to 1,927.88.

Payroll firm ADP reported that the U.S. private sector created 179,000 jobs last month. That reading came in two days before the release of the U.S. government's payrolls report, which economists expect will say about 219,000 jobs were created in May.

For news about small stocks that made big moves in Wednesday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report

 


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