Markets were mostly higher today as investors held steady ahead of the Federal Reserve’s rate decision. The TSX gained 0.30% and the TSX Venture Index rose 0.52%, while the Nasdaq added 0.65% and the FTSE 100 climbed 0.19%; the Dow was the lone laggard, slipping 0.19%.
Gold rebounded to jump 1.05% as traders braced for the Fed’s first rate hike since 2023, while oil eased 2.29% and bond yields also pulled back. Bitcoin rose 0.20% and copper gained 0.65%. Overseas, the Bank of Japan is poised to raise rates to a 31-year high even as Japan posted a fourth straight month of trade deficits on soaring oil imports, while at home Canadian retail sales rose a better-than-expected 1.2% in August.
Market numbers
TSX: Up (+0.30%) 35,687.48
TSXV: Up (+0.52%) 905.63
DOW: Down (-0.19%) 52,037.0
NASDAQ: Up (+0.65%) 29,161.4
FTSE 100: Up (+0.19%) 10,702.75
In the headlines
- Coinbase sinks 10% as Clarity Act stalls: Coinbase Global (NASDAQ:COIN), the cryptocurrency exchange platform, dropped sharply after the Clarity Act, a key piece of crypto regulatory legislation, stalled with no major breakthrough expected this year. The setback dampened hopes for near-term regulatory certainty in the digital asset space.
- EU proposes Canada as its first “associate member”: The European Union floated a proposal to make Canada its first-ever “associate member,” a new category of partnership short of full membership. The move signals a deepening economic and political relationship between Canada and the bloc.
- Dollarama posts higher Q2 profit: Dollarama (TSX:DOL), the discount retail chain, reported second-quarter profit of $359.3 million, up from $321.5 million a year earlier. The results point to continued resilience in consumer demand for value-focused retail.
Currencies
USD: Down (-0.11%) $0.7172
GBP: Flat (+0.00%) $0.5329
EUR: Down (-0.05%) $0.62209
JPY: Flat (+0.00%) ¥111.426
AUD: Down (-0.10%) $1.0064
Bitcoin (BTC/CAD): Up (+0.20%) 105,527.1
(Conversion to C$1)
Commodities
Copper: Up (+0.65%) 6.51942
Gold: Up (+1.05%) 4,339.13
WTI: Down (-2.29%) 102.60
Natural Gas: Down (-0.07%) 2.922
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