After reaching a record high in the previous session, Canada’s main stock index kept mostly flat on Friday. While the energy sector was the chief gainer on the TSX, the tech sector saw the biggest drop. July’s GDP rose 0.2 per cent as increases in services-producing industries and goods-producing industries drove the growth.
The Dow Jones Industrial Average rose to a record level as investors took stock of new data that indicated more progress in lowering inflation. The personal consumption expenditures price index for August (the Federal Reserve’s preferred inflation gauge) rose by 0.1 per cent, aligning with economists’ predictions. On an annual basis, the index increased by 2.2 per cent, slightly under the anticipated 2.3 per cent.
The Canadian dollar traded for 73.99 cents U.S. compared with 74.22 cents U.S. on Thursday.
U.S. crude futures traded $0.88 higher at $68.55 a barrel, and the Brent contract rose $0.74 to $72.34 a barrel.
The price of gold was down US$20.07 to US$ 2,652.56.
In world markets, the Nikkei was up 903.93 points to 39,829.56, the Hang Seng was up 707.72 points to 20,632.30, the FTSE was up 35.85 points to 8,320.76, and the DAX was up 235.27 points to 19,473.63.
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(Top image generated with AI)