Canada’s main stock index finished Tuesday on a positive note, driven by gains in consumer staples as investors digested US economic data amid rising expectations of an upcoming Federal Reserve rate cut.
Meanwhile, the Nasdaq Composite slipped after Monday’s strong performance, which was fuelled by optimism around artificial intelligence stocks and hopes for a Fed rate reduction. Nvidia’s (NASDAQ:NVDA) shares dropped 2.5 per cent following media reports that Meta Platforms (NASDAQ:META) may invest billions in Alphabet’s (NASDAQ:GOOG) AI chips. Alphabet’s stock climbed 1.2 per cent on the news.
| TSX | 30,900.65 | +296.30 |  |
| TSXV | 892.26 | +11.79 | |
| CSE | 146.26 | -1.61 |  |
| DJIA | 47,112.45 | +664.18 | |
| NASDAQ | 23,025.59 | +153.59 | |
| S&P 500 | 6,765.88 | +60.76 | |
The Canadian dollar traded for 70.92 cents US compared to 70.89 cents US on Monday.
US crude futures traded $0.92 lower at US$57.92 a barrel, and the Brent contract also lost $0.92 to US$62.45 a barrel.
The price of gold was up US$36.93 to US$4,095.97.
In world markets, the Nikkei was up 33.64 points to ¥48,659.52, the Hang Seng was up 178.05 points to HK$25,894.55, the FTSE was up 74.62 points to ₤9,609.53, and the DAX was up 225.45 points to €23,464.63.
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