The TSX hit a record high on Wednesday as energy shares gained after the killing of a Hamas leader raised tensions even further in the Middle East. Investor optimism grew that the U.S. Federal Reserve might start lowering rates sooner than expected after the central bank moved to keep interest rates steady, recognizing recent advancements in reducing inflation and a slowdown in the labour market. Statistics Canada also reported GDP grew for the fourth time in five months, increasing 0.2 per cent in May, as goods-producing and services-producing industries expanded in the month.
In the United States, stocks jumped as the Federal Open Market Committee kept its benchmark rate in a range of 5.25 per cent to 5.5 per cent. Major tech names were in focus and led higher by NVIDIA Corp. (NDAQ:NVDA), which closed up 12.81 per cent. Much of the growth came in response to the latest earnings reports.
The Canadian dollar traded for 72.41 cents U.S. compared with 72.17 cents U.S. on Tuesday.
U.S. crude futures traded $3.75 higher at $78.48 a barrel, and the Brent contract rose $2.09 to $80.72 a barrel.
The price of gold was up US$39.75 to US$2,449.22.
In world markets, the Nikkei was up 575.87 points to 39,101.82, the Hang Seng was up 341.69 points to 17,344.60, the FTSE was up 93.57 points to 8,367.98, and the DAX was up 97.47 points to 18,508.65.
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