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Canada’s main stock index fell at open on Wednesday, with industrial and mining stocks leading the downers. Only the telecom sector saw gains. Investors took stock of minutes from the US Federal Reserve’s June meeting.

The Fed agreed to hold interest rates steady in its June meeting to buy time and see if more rate hikes are needed. Sino-US tensions and weaker-than-expected economic data from Beijing also led to a red close as Wall Street resumed a holiday-shortened week. Meta Platforms stock rose 3.5 per cent, outpacing its megacap tech and growth peers, ahead of the release of Threads, its Twitter-rival app, on Thursday. Later this week, investors watch for employment and wage data for insights into the strength of the labour market.

Today in the Markets

TSX 20,103.89 -100.98 TSX
TSXV 622.81 -3.78 TSXV
CSE 164.41 +3.46 TSXV
DJIA 34,288.64 -129.83 DJIA
NASDAQ 13,791.65 -25.12 NASDAQ
S&P 500 4,449.43 -6.16 S&P 500

The Canadian dollar traded for 75.25 cents US, compared to 75.67 cents US on Tuesday.

US crude futures traded $2.21 higher at $72.00 a barrel, and the Brent contract added $0.49 to $76.74 a barrel.

The price of gold was down US$10.38 to US$1,915.95.

In world markets, the Nikkei was down 83.82 points to 33,338.70, the Hang Seng was down 305.30 points to 19,110.38, the FTSE was down 77.62 points to 7,442.10, and the DAX was down 101.59 points to 15,937.58.

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