On the back of utilities, financial, and industrials gains, Canada’s main stock index advanced on Wednesday. Falling crude prices countered gains on the TSX, while investors assessed key U.S. inflation data. Minutes from a policy meeting earlier this month showed that the U.S. Federal Reserve is conflicted over how much farther rates would need to be cut and noted the uncertainty about the direction of the economy.
Sponsored by
American markets took a slide after enjoying life at record highs. Traders took stock of new inflation gauge numbers in the personal consumption expenditures price index, which rose 0.2 per cent in October and 2.3 per cent on an annualized basis, in line with expectations. Wall Street will be closed on Thursday for American Thanksgiving.
The Canadian dollar traded for 71.29 cents US compared to 71.08 cents US on Tuesday.
U.S. crude futures traded $0.46 lower at US$68.75 a barrel, and the Brent contract rose $0.07 to US$72.88 a barrel.
The price of gold was up US$15.13 to US$2,637.11.
In world markets, the Nikkei was down 307.03 points to 38,134.97, the Hang Seng was up 443.93 points to 19,603.13, the FTSE was up 13.07 points to 8,271.68, and the DAX was down 34.28 points to 19,261.70.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top image generated with AI.)