Canada’s main stock index climbed on Wednesday, building on momentum from the previous session when the TSX reached a record high over the 28,000 mark. This continued optimism was fuelled by US inflation data that bolstered expectations for a potential interest rate cut in September. The July Consumer Price Index report from the US showed only modest inflation, indicating that tariffs had minimal impact on prices and strengthening the case for a Federal Reserve rate reduction.
Meanwhile, US markets also saw gains ahead of Thursday’s release of the Producer Price Index, which will offer further insight into wholesale inflation trends. This data will contribute to the broader economic picture and comes just before the Federal Reserve’s annual Jackson Hole symposium, scheduled for August 21–23, where policymakers may provide additional clues about future monetary policy decisions.
Japan’s Nikkei 225 index also beat its all-time high for a second straight day because of expectations of a US interest rate cut and easing trade tensions.
| TSX | 27,993.43 | +72.17 |  |
| TSXV | 786.46 | -2.14 |  |
| CSE | 163.26 | +6.42 | |
| DJIA | 44,922.27 | +463.66 | |
| NASDAQ | 21,713.14 | +31.24 | |
| S&P 500 | 6,466.58 | +20.82 | |
The Canadian dollar traded for 72.66 cents US compared to 72.59 cents US on Tuesday.
US crude futures traded $0.47 lower at US$62.70 a barrel, and the Brent contract lost $0.41 to US$65.71 a barrel.
The price of gold was up US$6.81 to US$3,356.51.
In world markets, the Nikkei was up 556.50 points to ¥43,274.67, the Hang Seng was up 643.99 points to HK$25,613.67, the FTSE was up 17.42 points to ₤9,165.23, and the DAX was up 160.81 points to €24,185.59.
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