Just when it appeared that Canada’s main stock index was going to have another down day, a late rally among materials and financial stocks pushed the TSX to end on the higher side of the flatline. The tech, utilities and industrial sectors came in with declines. Investors assessed comments from Federal Reserve Bank of Atlanta president Raphael Bostic, who said the Fed should not cut its benchmark interest rate until the end of this year.
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Markets south of the border also saw a flat, but split, performance as the defeatist sentiment that has hovered over Wall Street since the end of the recent rally continues to linger.
The Canadian dollar traded for 73.89 cents compared with 73.68 cents U.S. on Tuesday.
U.S. crude futures traded $0.41 higher at $85.56 a barrel, and the Brent contract added $0.52 to $88.44 a barrel.
The price of gold was up US$18.39 to US$2,298.38.
In world markets, the Nikkei was down 387.06 points to 39,451.85, the Hang Seng was down 206.42 points to 16,725.10, the FTSE was up 2.35 points to 7,937.44, and the DAX was up 84.59 points to 18,367.72.
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