TORONTO –
Canada’s main stock index rose after investors returned from a long weekend even as the technology sector was whipsawed by soured sentiment resulting from profit warnings by social media company Snap Inc.
The S&P/TSX composite index closed up 88.59 points to 20,286.20 a day after U.S. markets rallied from Friday’s steep losses.
In New York, the Dow Jones industrial average was up 48.38 points at 31,928.62. But the S&P 500 index lost 32.27 points at 3,941.48, while the Nasdaq composite was down 270.82 points or 2.4 per cent at 11,264.45.
Monday’s rally in the U.S. was partially offset by Tuesday losses for the two tech-focused markets, said Anish Chopra, managing director with Portfolio Management Corp.
“Because Canada was closed yesterday, we’re getting the combination of two days worth of movement. So even though yesterday was up in the U.S. and down today, Canada is just up very,…
