Following a nasty session in the red, Canada’s main stock index rose more than 300 points in Friday trading. Gains were led by the energy and base metal sectors.
After two brutal weeks brought back-to-back weekly drops of more than 5 per cent, markets on Wall Street saw its first weekly gain this month. Jittery investors wonder if the Federal Reserve will raise interest rates enough to get inflation under control but not so much as to push the economy into a recession.
Today in the Markets
The Canadian dollar traded for 77.49 cents US compared to 76.96 cents US on Thursday.
US crude futures traded 2.96 per cent higher at $107.40 a barrel, while the Brent contract gained 2.56 per cent to $112.90 a barrel.
The price of gold was up US$0.18 US to $1,824.81.
In world markets, the Nikkei was up 320.72 points to 26,491.97 the Hang Seng was up 445.19 points to 21,719.06, the FTSE was up 188.36 points to 7,208.8, and the DAX was up 205.54 points to 13,118.13.
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