Futures tied to Canada’s main stock index moved higher on Wednesday. The TSX’s growth was stifled by losses among mining, energy, and tech stocks. Investors refrained from making any big moves ahead of the U.S. Federal Reserve’s latest interest rate increase.
The central bank raised rates a quarter percentage point, lifting the key lending rate to a range between 5.25 per cent and 5.5 per cent, its highest level since 2001.
US markets were split as traders assessed mixed earnings from Microsoft and Google’s parent Alphabet during a Fed rate hike that pushed borrowing costs to their highest since the global financial crisis. Even so, the Dow is on quite the run, extending its win streak to 12 days.
Today in the Markets
The Canadian dollar traded for 75.67 cents U.S., compared with 75.91 cents U.S. on Tuesday.
U.S. crude futures traded $0.79 lower at $78.84 a barrel, and the Brent contract lost $0.74 to $82.90 a barrel.
The price of gold was up US$8.63 to US$1,974.02.
In world markets, the Nikkei was down 14.17 points to 32,668.34, the Hang Seng was down 69.26 points to 19,365.14, the FTSE was down 14.91 points to 7,676.89, and the DAX was down 80.13 points to 16,131.46.
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