Canada’s main stock index bounced back from earlier losses among the technology and utility sectors to close higher on Tuesday, thanks to an energy and mining rally. Investors gauged remarks by central bank chairs in both Canada and the U.S. hoping for an ease on further monetary policy tightening.
It was a choppy day on Wall Street as well, but markets ultimately closed higher once Federal Reserve Chair Jerome Powell said he didn’t expect rate cuts anytime soon.
Today in the Markets
The Canadian dollar traded for 74.60 cents US, compared to 74.38 cents US on Monday.
US crude futures traded $3.21 higher at $77.32 a barrel, while the Brent contract gained $2.86 to $83.85 a barrel.
The price of gold was up US1.896 to US$1,870.22.
In world markets, the Nikkei was down 8.18 points to 27,685.47, the Hang Seng was up 76.54 points to 21,298.70, the FTSE was up 28.00 points to 7,864.71, and the DAX was down 25.03 points to 15,320.88.
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