Canada's main stock index surged 200 points, driven by strong performances in technology, financials, and base metals sectors, mirroring a rally in US stock markets following the latest inflation report and positive earnings from major American banks. US markets saw significant gains with the Nasdaq composite rising 2.5%, the Dow Jones industrial average up 1.7%, and the S&P 500 index posting its best day in two months.
TORONTO — Canada 's main stock index rose 200 points Wednesday amid a broad-based rally led by technology, financials and base metals, while U.S. stock market s also surged higher after the latest inflation report and strong earnings from major American banks.The Dow Jones industrial average was up 703.27 points, or 1.7 per cent, at 43,221.55. The S&P 500 index was up 107 points, or 1.8 per cent, at 5,949.91, marking its best day in two months.
However, “the main story of the day was the CPI numbers,” Crowther said, “and the fact that they rose less than expected has the market in somewhat of a relief rally.” Yields moved lower as markets recalibrated their forecasts for interest rates in 2025, said Crowther, with renewed optimism about inflation moving in the right direction.However, markets are still pricing in no cut from the U.S. Federal Reserve when it meets later this month, said Crowther.The Fed in December pared back its forecast for cuts in 2025 from four to two, but with job market data remaining stronger than expected, markets had been weighing whether the U.S.
STOCK MARKET INFLATION EARNINGS NASDAQ CANADA
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada's Stock Market Rises on Christmas EveCanada's main stock index closed higher on Christmas Eve, fueled by broad-based gains across most sectors. U.S. stock markets also saw increases, extending recent rallies and partially offsetting last week's decline following the Federal Reserve's outlook.
Read more »
Canada's Stock Market Rises as US Markets MixedCanada's main stock index climbed on Wednesday, while US stock markets showed mixed performance. Tech stocks contributed to the Canadian gains. Investors are closely watching US bond yields and upcoming jobs data for clues about the Federal Reserve's monetary policy.
Read more »
Canada's Stock Index Rises on Commodity Prices BoostCanada's main stock index increased on the first trading day of 2025, driven by higher commodity prices, particularly in the energy and metal mining sectors. The index recovered some ground lost in December.
Read more »
Canada's Stock Index Rises, U.S. Markets Mixed After Bumpy DayCanada's main stock index rose on Tuesday, while U.S. markets were mixed after a volatile trading session. The S&P/TSX composite index closed up 52.26 points at 24,588.58. In New York, the Dow Jones industrial average was up 221.16 points at 42,518.28. The S&P 500 index was up 6.69 points at 5,842.91, while the Nasdaq composite was down 43.71 points at 19,044.39. Investors are waiting on economic data, particularly the consumer inflation report coming Wednesday.
Read more »
Stock market today: Wall Street rises to turn a dismal week into just a bad oneNEW YORK (AP) — U.S. stocks rose to turn what would have been one of the market’s worst weeks of the year into just a pretty bad one. The S&P 500 rallied 1.1% Friday to shave its loss for the week down to 2%.
Read more »
Canada's Stock Market Slides Amid Cautious Awaiting of Fed Rate DecisionThe Toronto Stock Exchange's S&P/TSX composite index fell for the fifth straight day, influenced by commodity-related stocks, as investors positioned themselves cautiously before the U.S. Federal Reserve's monetary policy announcement.
Read more »