TORONTO — Canadian and U.S. stock markets rose on Friday as oil prices fell and SpaceX surged in its Wall Street debut.
“Obviously, the big event today is the SpaceX IPO trading, which happened midway through the day,” said Ryan Crowther, portfolio manager at Franklin Templeton’s ClearBridge Investments.
“But there are also some crosscurrents in the market today, where you have on one hand, the SpaceX IPO showing that there’s still a very strong appetite for long-duration growth (and) AI-linked infrastructure. On the other hand, the U.S.-Iran headlines are taking some of the geopolitical risk premium out of oil and inflation expectations.”
The S&P/TSX composite index was up 266.39
→ Continue reading at BIV