Canada’s main stock index lost its footing on Friday, but the TSX ended the week in a better position than when it started. This tumble came despite a U.S. inflation report that was in line with expectations. Traders have had their hopes invigorated on an interest rate cut by the Federal Reserve in September. Statistics Canada reported April GDP grew 0.3 per cent as goods-producing and services-producing industries increased during the month.
The S&P 500 hit a new intraday high as investors assessed May’s core personal consumption expenditures price index, which indicated slowing inflation and better-than-expected consumer sentiment.
The Canadian dollar traded for 73.05 cents U.S. compared with 73.03 cents U.S. on Thursday.
U.S. crude futures traded $0.37 lower at $81.37 a barrel, but the Brent contract rose $0.02 to $86.41 a barrel.
The price of gold was down US$4.15 to US$2,323.51.
In world markets, the Nikkei was up 241.54 points to 39,583.08, the Hang Seng was up 2.14 points to 17,718.61, the FTSE was down 15.56 points to 8,164.12, and the DAX was up 24.90 points to 18,235.45.
(Top photo: AI-generated stock image.)
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