11:06:20 EDT Fri 17 May 2024
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Globe/wire say TSX makes it five days of gains in a row

2023-10-12 09:05 ET - In the News

The Globe and Mail reports in its Thursday edition that U.S. and Canadian stock indexes closed higher Wednesday, with the release of minutes from the U.S. Federal Reserve's last meeting showing caution among policy-makers that helped fuel investor hopes that rates would stay steady. A Reuters dispatch to The Globe says that the Fed pointed to uncertainties around the economy, oil prices and financial markets as supporting "the case for proceeding carefully in determining the extent of additional policy firming that may be appropriate," according to the minutes released on Wednesday from the Sept. 19-20 meeting. Along with recent moves in interest rates and dovish comments from Fed officials in the past few days, Angelo Kourkafas, senior investment strategist at Edward Jones, said the minutes appeared encouraging for investors. Earlier Wednesday, data showed that U.S. producer prices increased more than expected in September amid higher costs for energy products, but underlying inflation pressures at the factory gate continued to moderate. The S&P/TSX Composite Index ended up 162.64 points at 19,663.84. It was the fifth session in a row the Canadian benchmark closed higher. Both U.S. and Canadian bond yields eased.

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