Futures for Canada’s largest market fell further on Wednesday. The Toronto Stock Exchange was dragged down deeper by mining and rate-sensitive stocks leading declines, while TSX traders took stock of domestic retail sales data. The energy sector was the gainer of the day, as were industrials and utilities.
U.S. investors took a breather from last week’s market rally and Wall Street’s indexes continue into the red. Major tech stocks that saw a solid run thanks to enthusiasm around artificial intelligence took a step back. Federal Reserve Chair Jerome Powell’s prepared comments offered some insight into the agency’s stance on future rate hikes. The Eurozone has fallen into a recession as high inflation took a bite out of consumer spending and governments capped excessive spending.
The Canadian dollar traded for 75.96 cents U.S., compared to 75.56 cents U.S. on Tuesday.
U.S. crude futures traded $1.35 higher at $72.54 a barrel, and the Brent contract added $1.19 to $77.09 a barrel.
The price of gold was down US$3.31 to US$ 1,933.91.
In world markets, the Nikkei was up 186.23 points to 33,575.14, the Hang Seng was down 388.73 points to 19,218.35, the FTSE was down 10.13 points to 7,559.18, and the DAX was down 88.19 points to 16,023.13.
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