At today’s close, the Canadian stock markets had a short back-and-forth fight before dropping down from its short-lived upward trend. The healthcare sector took the hardest hit in the market today, followed by the energy sector despite seeing some companies as the day’s biggest gainers.
However, a path to stock market normalcy looks to be in sight for investors during 2023 with rates of commodities and inflation steadily easing.
These trends and insights were mirrored in today’s U.S. markets with all large-cap sectors closing in the red and seeing more reduction in major commodities such as natural gas, gold, and crude oil.
The Federal Reserve Bank of San Francisco’s Economic Research Department announced its recession predictor is not expecting a recession during the first and second fiscal quarters of 2023.
Today in the Markets
The Canadian dollar traded for 73.48 cents US, compared to 73.57 cents US on Friday.
US crude futures traded $0.98 lower at $78.64 a barrel, and the Brent contract went down $0.92 to $83.00 a barrel.
The price of gold was up US$6.44 to US$1,804.42
In world markets, the Nikkei was down 107.37 points to 26,340.50, the Hang Seng was up 305.85 points to 19,89.91, the FTSE was up 24.18 points to 7,497.19, and the DAX was down 69.50 points to 13,925.60.DISCLAIMER: By viewing any material on or distributed by The Market Herald Publishing Ltd. and its Information Providers you agree to both the following disclaimer, and the full disclaimer that can be viewed here.
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