Canada’s main stock index nudged higher on Wednesday after investors welcomed a temporary suspension of new US tariffs on Canadian imports. Strength in the mining and energy sectors also helped support the market’s gains.
Late Tuesday, US President Donald Trump announced a three-day delay to the implementation of new 50 per cent tariffs on Canadian goods that had been scheduled to take effect Wednesday, stating that the two countries had reached an agreement. In response, Prime Minister Mark Carney said that “substantial progress has been made,” while noting that significant work remains to be completed.
Investors also reviewed the latest minutes from the Federal Open Market Committee (FOMC) meeting, which highlighted notable divisions among policymakers. At the July meeting, three members dissented in favour of raising interest rates, a split that market participants will examine closely for further insight into the Federal Reserve’s policy outlook.
| TSX | 36,401.79 | +33.86 |  |
| TSXV | 971.78 | +26.91 | |
| CSE | 168.61 | +0.27 | |
| DJIA | 53,463.05 | +119.65 | |
| NASDAQ | 26,331.09 | +41.38 | |
| S&P 500 | 7,707.98 | +16.22 | |
The Canadian dollar traded for 72.39 cents US compared to 71.95 cents US on Tuesday.
US crude futures traded $0.14 higher at US$84.20 a barrel, and the Brent contract rose $0.34 to US$91.36 a barrel.
The price of gold was up US$152.77 to US$4,518.28.
In world markets, the Nikkei was down 2,134.31 points to ¥65,326.42, the Hang Seng was up 23.92 points to HK$25,495.07, the FTSE was up 19.79 points to ₤10,747.83, and the DAX was up 1.42 point to €26,129.78.
