A serious rally lifted Canada’s main stock index to a record intraday high on Wednesday, as investors kept hopeful for an exceptionally large interest rate cut by the Bank of Canada next week. While the utilities sector led gains on the TSX, a drop among energy and tech shares kept growth in check.
Sponsored by
U.S. markets also rallied though this week’s earnings reports have been a mixed bag, with strong performances from major banks being somewhat dampened by weak forecasts from companies such as Dutch chipmaker ASML (NDAQ:ASML) and UnitedHealth Group (NYSE:UNH).
| TSX | 24,561.20 | +122.12 |  |
| TSXV | 606.64 | +6.22 | |
| CSE | 165.75 | +1.38 | |
| DJIA | 43,077.70 | +337.28 | |
| NASDAQ | 18,367.08 | +51.49 | |
| S&P 500 | 5,842.47 | +27.21 | |
The Canadian dollar traded for 72.72 cents U.S. compared with 72.46 cents U.S. on Tuesday.
U.S. crude futures traded $0.03 lower at $70.55 a barrel, but the Brent contract rose $0.12 to $74.37 a barrel.
The price of gold was up US$13.24 to US$2,673.94.
In world markets, the Nikkei was down 730.25 points to 39,180.30, the Hang Seng was down 31.94 points to 20,286.85, the FTSE was up 88.00 points to 9,186.47, and the DAX was down 53.38 points to 19,432.81.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top image generated with AI)