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.
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
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.
Get @ the Bell delivered to your email inbox every day!
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.
Any holdings, theories, speculation or trades appearing anywhere on The Market Herald network of websites should not be relied upon for purposes of transacting securities or other investments, nor should they be construed as an offer or solicitation of an offer to sell or buy any security. This applies to any material regardless of source, placement, presentation or reproduction. Any Information Providers to The Market Herald or employees of The Market Herald may from time to time have positions in the stocks or other entities mentioned anywhere on The Market Herald Network of websites. You bear responsibility for your own investment research and decisions and should seek the advice of a qualified securities professional before making any investment. The Market Herald and its contributors makes no guarantee as to the validity of any information, speculation, theories or research presented herein whether pertaining to the past, present or future. The Service and The Materials are provided by The Market Herald and other Information Providers on an “as is” basis, and The Market Herald and other Information Providers expressly disclaim any and all warranties, express or implied, including, without limitation, warranties of satisfactory quality and fitness for a particular purpose, with respect to the service or any materials and products. In no event shall The Market Herald and other Information Providers be liable for any direct, indirect, incidental, punitive, or consequential damages of any kind whatsoever with respect to The Service, The Materials, and The Products.