Canada’s main stock index ended Wednesday flat as crude oil and metal prices dropped. Markets saw an early bump as the Bank of Canada delivered its third consecutive interest rate cut, bringing its key lending rate to 4.25 per cent.
U.S. markets were divided, if also essentially flat after the major averages kick-started September on a lower note. Several megacap technology and chip stocks recouped earlier losses as Advanced Micro Devices (NDAQ:AMD) rose 3 per cent and Tesla (NDAQ:TSLA) went up 4 per cent.
The Canadian dollar traded for 73.99 cents U.S. compared with 73.79 cents U.S. on Tuesday.
U.S. crude futures traded $1.47 lower at $68.87 a barrel, and the Brent contract lost $1.57 to $72.38 a barrel.
The price of gold was up US$1.67 to US$2,494.62.
In world markets, the Nikkei was down 1,638.70 points to 37,047.61, the Hang Seng was down 194.15 points to 17,457.34, the FTSE was down 28.86 points at 28.86, and the DAX was down 155.26 points to 18,591.85.
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(Top image generated with AI)