Market Herald logo

Subscribe

Be the first with the news that moves the market

Canada’s main stock index couldn’t keep its early lead on the back of financial stocks in Friday trading, as investor focus was square on the U.S. central bank speech on the pace of future interest rate hikes.

U.S. stocks turned lower after Federal Reserve Chair Jerome Powell said he will continue to raise rates to fight inflation in his Jackson Hole speech.

The aggressive speech from the Fed chair came as Wall Street traders sought information on the pace of future interest rate hikes.

It was a broad decline among indices on Bay Street and Wall Street, with the tech sector leading the laggards.

Today in the Markets

TSX 19,873.29 -299.05 TSX
TSXV 645.92 -15.34 TSXV
CSE 307.83 -0.23 TSXV
DJIA 32,282.80 -1,008.98 DJIA
NASDAQ 12,141.71 -497.56 NASDAQ
S&P 500 4,057.74 -141.38 S&P 500

The Canadian dollar traded for 76.73 cents US compared to 77.33 cents US on Thursday.

US crude futures traded 0.46 per cent higher at $92.95 a barrel, while the Brent contract gained 1.42 per cent to $100.80 a barrel.

The price of gold was down US$19.02 to US$1,737.57.

In world markets, the Nikkei was up 162.37 points to 28,641.38, the Hang Seng was up 201.66 points to 20,170.04, the FTSE was down 54.68 points to 7,573.80, and the DAX was down 300.49 points to 12,971.47.


Get @ the Bell delivered to your email inbox every day!

Sign Up Here





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.


More From The Market Herald

" @ the Bell: Recession fears continue to erode markets

Canada’s main stock index descended as the price of oil fell and losses in the energy sector weighed on the Toronto market.
The Market Herald Video

" Precipitate Gold (TSXV:PRG) completes diamond drilling program at Motherlode Gold Project

Precipitate Gold Corp. (PRG) has completed a 2,716-metre diamond-drilling program at the Motherlode Gold Project in Newfoundland.

" @ the Bell: Another red day for the markets

Losses in the energy and technology sectors helped push Canada’s main stock index to a steep decline on Tuesday.

" Canadian Neobank Fintech RevoluGROUP reaches apex of M&A talks

Time certainly flies, and even more so in the fast-paced Fintech space.