Following the struggles from the previous session, Canada’s main stock index bounced back off the ropes on Tuesday, even managing a 200-plus point gain at one point in the trading day. Gains were led by financial and technology stocks.
An in-line reading of US inflation data bolstered hopes of smaller interest rate hikes by the Federal Reserve. Regional banks surged and the main indexes closed higher after Monday’s selloff; US inflation dropped to 6 per cent.
Today in the Markets
The Canadian dollar traded for 73.04 cents US, compared to 72.80 cents US on Monday.
US crude futures traded $3.78 lower at $71.02 a barrel, and the Brent contract lost $3.65 to $77.12 a barrel.
The price of gold was down 6.07 to US$1,906.41.
In world markets, the Nikkei was down 610.92 points to 27,832.96, the Hang Seng was down 448.01 points to 19,247.96, the FTSE was up 88.48 points to 7,637.11, and the DAX was up 273.36 points to 15,232.83.
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