By Stewart Lewis
(May 25 – 13:00 ET) – The technology sector is rebounding today. The TSE 300 composite index added more than 100 points, jumping up past the 9000 mark this morning as investors sought out the best buys. It is hovering around 9243.00.
TSE volume is stronger today. By midday, 77.7 million shares worth $1.91 billion had been traded. Advancing issues beat out declining issues for the first time in days, 446 to 438. There were 273 issues unchanged.
In the U.S., tech stocks advanced, too. The NASDAQ composite index built on yesterday’s rebound, rising 61.00 to 3331.60. But it was a different story for the Dow Jones industrial average. At midday, it was down 48 points to 10487.
The Canadian dollar is faring better today. It opened stronger this morning. Trading of the loonie remained thin, though. Currency traders are saying the dollar’s strength, following a drop to its lowest point since last August, is not likely to hold. The dollar stood at US66.33¢ at midday, up from US66.19¢.