Despite the positivity from Wednesday’s softer-than-expected U.S. inflation data, Canada’s main stock index continued to trade flat on Thursday in the face of renewed rate cut hopes. Gains were led by the industrials and utilities sectors while losses were sustained by the mining and energy markets.
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The Dow Jones Industrial Average reached a key milestone – the 40,000 mark, a level it had never hit before. This comes a day after a broad market surge drove the NASDAQ and S&P 500 to record highs. Even so, all three indices retreated from their highs by market close.
The Canadian dollar traded for 73.43 cents U.S. compared with 73.51 cents U.S. on Wednesday.
U.S. crude futures traded $0.71 higher at $79.34 a barrel, and the Brent contract rose $0.58 to $83.33 a barrel.
The price of gold was down US$19.18 to US$ 2,377.99.
In world markets, the Nikkei was up 534.53 points to 38,920.26, the Hang Seng was up 302.82 points to 19,376.53, the FTSE was down 7.15 points to 8,438.65, and the DAX was down 130.55 points to 18,738.81.
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