After a week of record highs and stiff losses, Canada’s main stock index closed out the week trading wins and losses in-tune with activity on Wall Street. Traders have taken a step back after markets on the TSX rallied over the week because of the U.S. interest rate cut.
U.S. markets came off a record-setting rally from the previous session as investor confidence surged with the Federal Reserve initiating its easing cycle with a substantial 50-basis-point rate cut, promising further reductions. The central bank also forecasted a phase of consistent economic growth, coupled with low unemployment and inflation. Wall Street’s gains mirrored the rallies seen in European and Asian markets after the Fed’s first interest rate cut in more than four years.
| TSX | 23,867.55 | +1.28 |  |
| TSXV | 584.91 | +2.19 | |
| CSE | 158.25 | -1.37 |  |
| DJIA | 42,063.36 | +38.17 | |
| NASDAQ | 17,948.32 | -65.66 | |
| S&P 500 | 5,702.55 | -11.09 | |
The Canadian dollar traded for 73.74 cents U.S. compared with 73.75 cents U.S. on Thursday.
U.S. crude futures traded $0.40 higher at $72.35 a barrel, and the Brent contract rose $0.04 to $74.92 a barrel.
The price of gold was up US$37.95 to US$ 2,625.30.
In world markets, the Nikkei was up 568.58 points to 37,723.91, the Hang Seng was up 245.41 to 18,258.57, the FTSE was down 98.73 points to 8,229.99, and the DAX was down 282.37 points to 18,720.01.
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)