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On the last day of November, financial stocks couldn’t drag Canada’s main stock index lower on Wednesday, despite the country’s two big banks reporting a drop in quarterly profit, blaming higher provisions for bad debts. Health care, mining, and tech moved higher.

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Investors await comments from U.S. Federal Reserve Chair Jerome Powell, the last speech U.S. Federal Reserve Chair Jerome Powell said the central bank could scale back the pace of its interest rate hikes as soon as December. Investors now await their next rate meeting in mid-December for signs of a slowdown in the pace of interest rate hikes, as well as to assess the general health of the economy. U.S. markets were up, defying a sluggish week for Wall Street, however overall, the Dow Jones Industrial Average has gained nearly 18 per cent in the last two months, while the NASDAQ has added about 4 per cent.

Today in the Markets

TSX 20,453.26 +175.85 TSX
TSXV 591.00 +12.08 TSXV
CSE 278.80 +1.50 TSXV
DJIA 34,540.00 +683.00 DJIA
NASDAQ 12,021.50 +496.75 NASDAQ
S&P 500 4,075.50 +113.50 S&P 500

The Canadian dollar traded for 74.39 cents US, compared to 73.58 cents US on Tuesday.

US crude futures traded $2.47 higher at $80.67 a barrel, while the Brent contract gained $2.40 to $85.43 a barrel.

The price of gold was up US$19.61 to US$1,768.50.

In world markets, the Nikkei was down 58.85 points to 27,968.99, the Hang Seng was up 392.55 points to 18,597.23, the FTSE was up 62.67 points to 7,773.14, and the DAX was up 41.59 points to 14,397.04.

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