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)

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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.

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