Canada’s main stock index overcame the odds on Thursday and crawled out of negative territory to close in the green. Markets were split with the financial, mining and energy sectors posting gains, while the health, tech, and utilities sectors ended in the red. Traders cheered the Federal Reserve’s hawkish stance on further policy tightening after skipping an interest rate hike in June.
U.S. stock futures also fought back after the Fed paused its rate hike at the latest meeting but indicated that two more rate hikes may still be in store later this year.
The Canadian dollar traded for 75.66 cents U.S., compared with 75.00 cents U.S. on Wednesday.
U.S. crude futures traded $2.34 higher at $70.61 a barrel, and the Brent contract added $2.44 to $75.64 a barrel.
The price of gold was up US$13.25 to US$ 1,958.56.
In world markets, the Nikkei was down 16.93 points to 33,485.49, the Hang Seng was up 420.50 points to 19,828.92, the FTSE was up 25.52 points to 7,628.26, and the DAX was down 20.67 points to 16,290.12.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, click here.