CAPITAL MARKETS

One year on: S&P 500 at record high

“What a difference a year makes,” the New York Stock Exchange tweeted after Friday’s record close on the S&P 500.

Staff reporter
 At the New York Stock Exchange, 12 months on from the pandemic plunge

At the New York Stock Exchange, 12 months on from the pandemic plunge

"On March 12, 2020, as the pandemic spread through the US, the S&P 500 plunged 9.5% in its steepest one-day fall since 1987."

On Friday, it closed up 0.1% to a new record closing high of 3,943.34.

Later this week, markets will be watching out for the results of the US Federal Reserve's Federal Open Market Committee meeting.

"My own view is they leave their rates projections unchanged, which should see some element of rate hike expectations coming out of the markets and supporting market sentiment, but it's a real risk," Pepperstone head of research Chris Weston said this morning.

Gold was down slightly to US$1,726 an ounce on the spot market at the time of writing.

Copper rose above $9,000 per tonne towards the end of last week and closed up 0.38% to $9,103.50/t on Friday.

Among the majors, precious metals producer Fresnillo fell 2.7% in London, copper major Freeport-McMoRan eased 0.13% and Newmont was up 0.92% in New York.

Finally among the juniors in Toronto, AuQ Gold Mining (TSXV: AUQ) and Sokoman Minerals (TSXV: SIC) gained 33% and 43% respectively, both on no news.

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