Stocks in Canada’s largest market held onto their gains Tuesday, as investors anxiously awaited the conclusion of the U.S. Federal Reserve’s two-day meeting, and its subsequent rate hike announcement – or lack thereof.
The S&P/TSX Composite stayed above water 25.75 points to close Tuesday at 14,521.98
The Canadian dollar dipped 0.11 cents to 75.68 cents U.S.
Among information technology stocks, BlackBerry sparked 30 cents, or 3.1%, to $9.98.
Consumer staples were runners-up among gainers, as High Liner Foods gained 11 cents to $25.61, while grocer Metro spiked 45 cents, or 1%, to $43.75.
Energy stocks put something of a brake on things, as EnCana was punished 99 cents, or 7.6%, to $12.04, while Suncor dumped 45 cents, or 1.3%, to $34.05.
In the industrial field, Bombardier lost nine cents, or 5.1%, to $1.66. Among health-care issues, Valeant Pharmaceuticals backtracked 99 cents, or 2.8%, to $34.83.
ON BAYSTREET
The TSX Venture Exchange inched up 1.53 points to 803.21
All but three of the 12 TSX subgroups were gainers Tuesday, as information technology soared 1.3%, while consumer staples traveled higher 0.9%, and consumer discretionaries progressed 0.8%.
The three laggards proved to be energy, down 1%, industrials, off 0.5%, and health-care, lower by 0.4%.
ON WALLSTREET
Stocks in the U.S. closed marginally higher Tuesday, on the heels of disappointing housing data, while investors awaited the latest monetary policy decisions from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrials stayed 9.79 points above breakeven to 18,129.96, with Merck leading advancers and ExxonMobil the top decliner.
The S&P 500 was up but 0.64 points to 2,139.76, with health-care leading seven sectors higher and energy lagging.
The NASDAQ Composite were still positive 6.32 points to 5,243.82
Housing starts in the U.S. came in at an annualized rate of 1.14 million in August, shy of the expected 1.19 million. Construction permits fell 0.4% to a 1.14 million-unit rate last month.
Housing starts and permits were two of the last data sets released as the Fed began its two-day policy meeting on Tuesday. Market expectations that the Fed will raise interest rates on Wednesday were low.
Prices for the 10-year Treasury increased, lowering yields to 1.69% from Monday’s 1.71%. Treasury prices and yields move in opposite directions.
Oil prices strengthened 14 cents at $43.85 U.S. a barrel
Gold prices were unchanged at $1,317.80 U.S. an ounce.
