Canada’s main stock index, which is heavily weighted towards resources, edged up on Tuesday. This rise was driven by a global increase in commodity prices after new monetary stimulus measures in China, a major consumer. Gold prices continued to march beyond record highs. This was good news for the mining sector, which led the gains on the TSX, while the financial sector experienced the largest decline.
In the United States, markets remained relatively stable, allowing for the Dow Jones Industrial Average and S&P 500 Index to score record highs after beating their own records in the previous session. This comes despite disappointing data from the Conference Board, reporting consumer confidence has fallen to its lowest level in more than three years for September.
The Canadian dollar traded for 74.42 cents U.S. compared with 74.03 cents U.S. on Monday.
U.S. crude futures traded $1.16 higher at $71.53 a barrel, and the Brent contract added $1.23 to $75.13 a barrel.
The price of gold was up US$37.00 to US$ 2,663.27.
In world markets, the Nikkei was up 216.68 points to 37,940.59, the Hang Seng was up 753.45 points to 19,000.56, the FTSE was up 23.05 points to 8,282.76, and the DAX was up 149.84 points to 18,996.63.
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(Top image generated with AI)