After Monday’s sharp global decline, investors have been trying to regain market momentum. Positive economic data and reassuring comments from U.S. officials eased recession fears, while rising oil and copper prices added to the TSX‘s gains.
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In the United States, markets rose as investors sought to recover from this week’s sell-off. After Monday’s sharp global decline, triggered by last Friday’s disappointing U.S. payroll data, concerns over the Federal Reserve’s rate-cutting schedule and the unwinding of the Japanese yen carry trade, investors have been trying to regain market momentum.
The Canadian dollar traded for 72.81 cents U.S. compared with 72.82 cents U.S. on Thursday.
U.S. crude futures traded $0.83 higher at $77.02 a barrel, and the Brent contract rose $0.58 to $79.74 a barrel.
The price of gold was up US$1.92 to US$2,428.67.
In world markets, the Nikkei was up 193.85 points to 35,025.00, the Hang Seng was up 198.40 points to 17,090.23, the FTSE was up 23.13 points to 8,168.10, and the DAX was up 42.48 points to 17,722.88.
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