Canada’s top stock index tumbled on Wednesday after the Bank of Canada decided to maintain its interest rate at 2.75 per cent for the third straight time. This move suggests that the Canadian economy has been less affected by the ongoing trade tensions with the United States than previously anticipated. The utilities segment provided meagre gains for what was an otherwise broad decline for the TSX.
Meanwhile, US markets were as divided as the citizens of the country as investors reviewed corporate earnings and considered the Federal Reserve’s latest interest rate decision. The Fed opted to keep its benchmark rate steady within the 4.25 per cent to 4.5 per cent range, amid growing uncertainty surrounding trade negotiations between the US and China.
| TSX | 27,369.96 | -169.92 |  |
| TSXV | 770.13 | -7.45 | |
| CSE | 132.80 | +1.49 |  |
| DJIA | 44,461.28 | -171.71 | |
| NASDAQ | 21,129.67 | +31.38 | |
| S&P 500 | 6,362.90 | -7.96 | |
The Canadian dollar traded for 72.24 cents US compared to 72.57 cents US on Tuesday.
US crude futures traded US$1.16 higher at US$70.37 a barrel, and the Brent contract rose US$1.01 to US$73.52 a barrel.
The price of gold was down US$53.72 to US$3,273.52.
In world markets, the Nikkei was down 19.85 points to ¥40,654.70, the Hang Seng was down 347.52 points to HK$25,176.93, the FTSE was down 0.62of a point to ₤9,136.94, and the DAX was up 44.85 points to €24,262.22.
Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.