Canada’s main stock index spiked on Wednesday as investors assessed the US Federal Reserve’s interest-rate verdict. The tech market led gainers on the TSX while a sag in telecom and health care shares capped growth.
To say the major US indices have seen significant volatility recently is an understatement. Last week, the S&P 500 officially fell into correction territory, while the NASDAQ remains in correction, having dropped more than 10 per cent from its recent peak. Weak economic data and uncertainty around tariff policies have played their role, but traders appear to be buying-in on news from the Fed. The central bank moved to hold interest rates steady in the 4.25 per cent to 4.5 per cent range. Officials marked up their outlook for inflation this year, with their preferred measure of price increases expected to end the year at 2.7 per cent versus the 2.5 per cent pace anticipated in December.
The Canadian dollar traded for 69.87 cents US compared to 69.90 cents US on Tuesday.
US crude futures traded $0.27 higher at US$67.17 a barrel, and the Brent contract rose $0.29 to US$70.85 a barrel.
The price of gold was up US$15.91 to US$3,048.76.
In world markets, the Nikkei was down 93.54 points to ¥37,751.88, the Hang Seng was up 30.57 points to HK$24,771.14, the FTSE up 1.43 point to ₤8,706.66, and the DAX was down 92.64 points to €22,955.35.
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(Top image generated with AI.)