Following U.S. House of Representatives Speaker Nancy Pelosi’s departure from a high stakes meeting in Taiwan, markets around the world, including Canada’s main stock index, rose higher.
However, the TSX saw declines among energy, mining, utilities, and telecom shares.
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After two days of declines, U.S. stock indexes also closed higher as focus shifts to services activity data for more clues on the health of the economy, while PayPal stocks rallied more than 8 per cent after it raised its forecast.
Analysts are making larger than average cuts to earnings per share estimates for S&P 500 companies for Q3, as economic data shows signs of slowing and companies continue to dim their outlooks.
Today in the Markets
| TSX | 19,545.94 | +40.61 |  |
| TSXV | 655.20 | +0.44 | |
| CSE | 278.92 | -0.24 |  |
| DJIA | 32,068.81 | +416.33 | |
| NASDAQ | 12,668.16 | +319.40 | |
| S&P 500 | 4,155.17 | +63.98 | |
The Canadian dollar traded for 77.89 cents US compared to 77.72 cents US on Tuesday.
US crude futures traded 3.80 per cent lower at $90.83 a barrel, while the Brent contract lost 3.56 per cent to $96.96 a barrel.
The price of gold was up US$8.10 to US$1,765.28.
In world markets, the Nikkei was up 147.17 points to 27,741.90, the Hang Seng was up 77.88 points to 19,767.09, the FTSE was up 36.57 points to 7,445.68, and the DAX was up 138.36 points to 13,587.56.
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