Canada’s main stock index clung to solid gains on Wednesday as investors kept cautious in light of key U.S. inflation data. A rally on the TSX led by the tech and financial sectors countered a drop in crude and metal prices.
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U.S. stocks grew and the three major averages ended above their Aug. 2 closing levels from before the global market selloff. The Bureau of Labor Statistics reported that consumer prices increased 2.9 per cent year over year, down from 3 per cent in June and the lowest reading in around three years.
The Canadian dollar traded for 72.91 cents U.S. compared with 72.94 cents U.S. on Tuesday.
U.S. crude futures traded $1.16 lower at $77.19 a barrel, and the Brent contract lost $0.79 to $79.90 a barrel.
The price of gold was down US$16.26 to US$2,447.73.
In world markets, the Nikkei was up 209.92 points to 36,442.43, the Hang Seng was down 60.70 points to 17,113.36, the FTSE was up 45.82 points to 8,281.05, and the DAX was up 73.55 points to 17,885.60.
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(Top image generated with AI)