TSX Edges Forward
Canada's main stock index climbed for the second straight session on Wednesday as gold miners gained, while investors awaited minutes from the U.S. Federal Reserve's last policy meeting for clues about further rate hikes.
The TSX pushed ahead 9.14 points to open for business Wednesday at 19,452.91.
The Canadian dollar restocked 0.66 cents at 73.79 cents U.S.
ON BAYSTREET
The TSX Venture Exchange regained 1.19 points to 568.36.
Eight of the 12 subgroups were in the green to start the session, with gold ahead 1.5%, real-estate picking up 0.7%, and financials jumping 0.6%.
The four laggards were weighed most by energy, down 1.5%, while consumer staples sagged 0.2%, and utilities crept back 0.02%.
ON WALLSTREET
Stocks wavered Wednesday and rates slid as investors digested key jobs and manufacturing data ahead of the Federal Reserve’s meeting minutes release.
The Dow Jones Industrials fell 8.25 points to open Wednesday at 33,128.12.
The S&P 500 eked back 0.25 points at 3,823.89
The NASDAQ Composite Index slid 32.8 points to 10,354.18.
Shares of Microsoft fell more than 5% after a downgrade from UBS, weighing on the broader market.
The November Job Openings and Labor Turnover report, or JOLTS, came in slightly better than anticipated, signaling continued labor market strength amid the central bank’s rate hikes to tame inflation. The ISM manufacturing index, on the flip side, showed a contraction in the sector after 30 months of expansion, signaling that interest rate increases may be working to slow the economy.
Still, investors struggled to find a clear direction ahead of more economic data to come, including Fed meeting minutes due later Wednesday and the December jobs report Friday.
Prices for the 10-year Treasury gained ground, lowering yields to 3.71% from Tuesday’s 3.77%. Treasury prices and yields move in opposite directions
Oil prices dropped $3.22 to $73.71 U.S. a barrel.
Gold prices heightened $10.20 to $1,856.30 U.S. an ounce.
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