Canada’s main stock index remained relatively unchanged on Friday after reaching a record high in the previous session. The energy sector experienced gains on the TSX, while the tech sector saw a decline. The July GDP grew by 0.2 per cent, driven by increases in both services-producing and goods-producing industries.
The Dow Jones Industrial Average reached a new record level as investors analyzed new data showing progress in reducing inflation. The personal consumption expenditures price index for August, which is the Federal Reserve’s preferred inflation measure, rose by 0.1 per cent, in line with economists’ expectations. On an annual basis, the index increased by 2.2 per cent, slightly below the anticipated 2.3 per cent.
The Canadian dollar traded at 73.99 cents U.S. compared to 74.22 cents U.S. on Thursday. U.S. crude futures increased by $0.88 to $68.55 a barrel, while the Brent contract rose by $0.74 to $72.34 a barrel. The price of gold decreased by US$20.07 to US$2,652.56.
In global markets, the Nikkei rose by 903.93 points to 39,829.56, the Hang Seng increased by 707.72 points to 20,632.30, the FTSE went up by 35.85 points to 8,320.76, and the DAX climbed by 235.27 points to 19,473.63.
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(Source: The Market Online Canada)
