Canada’s primary stock index experienced steady gains on Wednesday amidst cautious investor sentiment surrounding key U.S. inflation data. The TSX saw a rally driven by the performance of the technology and financial sectors, which offset declines in oil and metal prices.
In the U.S. market, stocks showed growth, with the three major averages surpassing their August 2 levels before the global market selloff. The Bureau of Labor Statistics reported a 2.9% year-over-year increase in consumer prices, a slight decrease from June’s 3% and the lowest reading in approximately three years.
The Canadian dollar was trading at 72.91 U.S. cents, down slightly from the previous day. U.S. crude futures were down $1.16 to $77.19 per barrel, while the Brent contract lost $0.79 to $79.90 per barrel. Additionally, the price of gold dropped by US$16.26 to US$2,447.73.
In global markets, the Nikkei was up 209.92 points at 36,442.43, the Hang Seng declined by 60.70 points to 17,113.36, the FTSE gained 45.82 points at 8,281.05, and the DAX increased by 73.55 points, reaching 17,885.60.
Please be advised that the information provided in this article is for informational purposes only and should not be considered as investment advice. For a full disclaimer and more information, please visit the following link: [link to disclaimer page].
