Despite a couple of winning sessions, Canada’s top stock index took a dive on Wednesday, thanks to lower global bond yields. Declines in precious metals stocks stifled any market advance ahead of closely watched US inflation data. Meanwhile, oil prices held steady after earlier climbing on news of attacks against two ships in the Strait of Hormuz. Reuters reported that Iran is employing new tactics against commercial vessels in an apparent bid to support crude prices and influence the upcoming US midterm vote.
New Bureau of Labor Statistics data in the form of the latest Consumer Price Index showed that prices rose 0.6% in September from the month before, bringing the annual rate of inflation to 3.7%, up from 3.4% in August and above economists’ expectations for a 3.6% increase. This creates another headwind for President Donald Trump and Republicans as they head into the crucial November 3 elections.
| TSX | 35,584.46 | -399.52 |  |
| TSXV | 830.33 | -30.60 | |
| CSE | 141.84 | -6.15 | |
| DJIA | 51,621.48 | -48.62 | |
| NASDAQ | 26,692.87 | -511.51 | |
| S&P 500 | 7,718.94 | -86.51 | |
The Canadian dollar traded for 70.22 cents US compared to 70.33 cents US on Tuesday.
US crude futures traded $0.94 higher at US$95.08 a barrel, but the Brent contract rose $0.32 to US$106.00 a barrel.
The price of gold was down US$53.96 to US$4,099.55.
In world markets, the Nikkei was down 33.23 points to ¥67,744.29, the Hang Seng was down 31.05 points to HK$24,314.17, the FTSE was up 74.53 points to ₤10,649.12, and the DAX was up 62.58 points to €25,322.48.
