The Canadian stock market reached a new high on Monday as investors awaited the Federal Reserve’s upcoming monetary policy decision, with expectations of a significant interest rate cut. The industrials sector saw the highest gains on the TSX, while the telecom market was the only decliner.

In the U.S. markets, investors were mixed as they anticipated the Fed’s policy meeting, where a rate cut is projected for the first time since 2020. The Canadian dollar traded at 73.59 cents U.S., slightly up from Friday.

U.S. crude futures rose by $1.82 to $70.47 a barrel, while the Brent contract increased by $1.31 to $72.92 a barrel. The price of gold also saw an increase of US$4.08 to US$2,583.11.

Internationally, the Nikkei remained steady at 36,581.76, the Hang Seng increased by 53.03 points to 17,422.12, the FTSE rose by 5.35 points to 8,278.44, and the DAX fell by 66.29 points to 18,633.11.

Please note that the information provided in this article is for informational purposes only and should not be considered as investment advice. For a full disclaimer, please refer to the provided link.

Share.

Alexander is the founder and author of Microcaps.ca, a leading resource for investors interested in the micro-cap stock market. With a passion for uncovering hidden gems in the world of small-cap stocks, Alexander combines in-depth research with years of experience in the financial markets to provide readers with valuable insights and timely analysis. Investors should conduct their own research or consult with a qualified investment advisor before making any investment decisions. The author of this article is not responsible for any gains or losses incurred from investing in companies mentioned.

Leave A Reply

Exit mobile version