TSX Snaps 5-day Losing Streak, Ends Modestly Higher

RTTNews | 1109日前

(RTTNews) - The Canadian market ended modestly higher on Wednesday, led by gains in healthcare, technology and consumer discretionary sectors.

After opening on a firm note, the market pared some gains and moved slightly above the unchanged line till around mid afternoon when it briefly slipped into the red after the Fed announced a 75-basis point interest rate hike.

The Fed revealed that it has decided to raise the target rate for the federal funds rate by 75 basis points to 1.50 to 1.75%, marking the biggest rate hike since 1994.

The move comes as a recent report from the Labor Department showed consumer price inflation at the fastest annual rate in forty years.

The benchmark S&P/TSX Composite Index ended with a gain of 63.05 points or 0.32% at 19,611.56, after scaling a low of 19,383.69 and a high of 19,743.36 intraday.

The Health Care Capped Index climbed 3.05%. Bausch Health Companies (BHC.TO) and Canopy Growth Corp (WEED.TO) gained 5.4% and 5.1%, respectively. Cronos Group (CRON.TO) gained 3.8% and Aurora Cannabis (ACB.TO) ended 2.4% up.

In the technology section, Shopify Inc (SHOP.TO) and Lightspeed Commerce (LSPD.TO) climbed about 7% and 5.75%, respectively. BlackBerry (BB.TO), Nuvei Corp (NVEI.TO), Softchoice Corp (SFTC.TO), Sierra Wireless (SW.TO), Kinaxis Inc (KXS.TO) and Magnet Forensics (MAGT.TO) gained 3 to 7%.

Consumer discretionary stocks Magna International (MG.TO), Martinrea International (MRE.TO), Linamar Corp (LNR.TO), Sleep Country Canada Holdings (ZZZ.TO), BRP Inc (DOO.TO) and Park Lawn Corp (PLC.TO) moved up 2 to 4%.

Real estate stocks First Capital, Dream Industrial, Killam Apartment, Riocan Real Estate and Summit Industrial Income gained 1.7 to 2.7%.

Energy stocks Cenovus Energy (CVE.TO), Baytex Energy (BTE.TO), Suncor Energy (SU.TO), Canadian Natural Resources (CNQ.TO), Imperial Oil (IMO.TO) and Crescent Point Energy (CPG.TO) declined sharply.

On the Canadian economic front, data from the Canada Mortgage and Housing Corporation showed housing starts in the country jumped by 8% over a month earlier to 267,330 units in April 2022.

U.S. Dollar Advances After Hot PCE Data

The U.S. dollar strengthened against its major counterparts in the New York session on Friday, after a data showed that the Federal Reserve's preferred gauge of inflation accelerated in May.

RTTNews | 1日前

Swiss Market Ends On Buoyant Note

The Switzerland market closed on a firm note on Friday, in line with markets across Europe, as trade tensions eased following the U.S. and China reaching an agreement.

RTTNews | 1日前

European Stocks Close Higher As Trade Tensions Ease

European stocks closed higher on Friday as trade tensions eased after United States struck a deal with China to expedite rate earth shipments. The deal marks a significant step towards resolving the ongoing trade war between the world's two largest economies.

RTTNews | 1日前

U.S. Consumer Sentiment Improves Slightly More Than Previously Estimated In June

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. improved by slightly more than previously estimated in the month of June. The University of Michigan said its consumer sentiment index for June was upwardly revised to 60.7 from a preliminary reading of 60.5.

RTTNews | 1日前

U.S. Consumer Prices Inch Up In Line With Expectations But Core Price Growth Exceeds Estimates

While the Commerce Department released a closely watched report on Friday showing consumer prices in the U.S. crept up in line with expectations in the month of May, the report also showed core consumer prices rose by slightly more than expected. The report said the personal consumption expenditures (PCE) price index inched up by 0.1 percent in May, matching the uptick seen in April.

RTTNews | 1日前

Eurozone Economic Sentiment Falls Unexpectedly

Eurozone economic sentiment weakened unexpectedly in June primarily driven by reduced confidence in industry and retail trade, a monthly survey data from the European Commission showed on Friday. The economic confidence index fell to 94.0 in June from 94.8 in May. The score was forecast to rise to 95.1. The industrial confidence index posted -12.0 in June, down from -10.4 a month ago.

RTTNews | 1日前

Bay Street May Open On Positive Note

Canadian shares look headed for a higher start Friday morning, thanks to positive global cues amid easing trade tensions after the U.S. struck a deal with China to expedite rate earth shipments.

RTTNews | 1日前

Coleman Co. Recalls 229K Converta Camping Cots, Stretchers

Atlanta, Georgia-based Coleman Co., Inc. is recalling about 228,760 units of Converta camping cots and Converta camping suspension stretchers citing laceration and amputation, according to the U.S. Consumer Product Safety Commission. The recall involves Coleman Converta camping cots with model numbers 2000003077 and 2000020282, and Coleman Converta camping suspension stretchers with model number

RTTNews | 1日前

EURUSD	1.17033	GBPUSD	1.3699	AUDUSD	0.65196
USDJPY	144.679	USDCAD	1.37103	USDCHF	0.79971

Advertisement

TSX Snaps 5-day Losing Streak, Ends Modestly Higher