Equities markets in Canada’s largest centre ended Wednesday pretty much unchanged, as investors awaited clarity on the status of new U.S. tariffs on Chinese goods.
The TSX Composite Index dipped below the breakeven level by 11.09 points to finish Wednesday at 16,939.61
The Canadian dollar marched ahead 0.32 at 75.88 cents U.S.
Gold led gainers, as NovaGold picked up 44 cents, or 5%, to $9.26, while Yamana Gold hiked 19 cents, or 4%, to $4.89.
Among materials, Hudbay Minerals popped 28 cents, or 5.1%, to $5.11, while Silvercorp Metals climbed 41 cents, or 5.8%, to $7.43.
Industrials rounded out the "top three", as units Boyd Group Income Fund powered up $3.77, or 1.9%, to $202.67, while WestJet Airlines headed skyward 46 cents, or 1.5%, to $30.99.
Real-estate stocks foundered as Northwest Health Properties REIT slipped 61 cents, or 4.8%, to $12.08, while units of ARTIS REIT slouched 46 cents, or 3.8%, to $11.76.
Utilities also took their share of lumps, with Superior Plus sinking 29 cents, or 2.3%, to $12.08, while Innergex Renewable Energy was off 23 cents, or 1.3%, to $17.07.
Energy stocks showed a bit less of their old pep, as Shawcor descended 28 cents, or 2.3%, to $12.10, while Gran Tierra Energy dipped four cents, or 2.8%, to $1.40.
ON BAYSTREET
The TSX Venture Exchange sank 0.01 points to 536.32
Seven of the 12 subgroups finished Wednesday in the red, with real-estate collapsing 2.3%, while utilities and energy each gave back 0.5%.
The five gainers were led by gold, up 2%, materials, better by 1.3%, and industrials, stronger 1%.
ON WALLSTREET
Stocks closed slightly higher on Wednesday after the Federal Reserve indicated it will likely not raise rates in 2020, removing the fear among investors that it would repeat a mistake it made last year by tightening monetary policy prematurely and knocking the stock market.
The Dow Jones Industrials ended the day positive by 29.58 points to finish Wednesday at 27,911.30,
The S&P 500 gained 9.11 points to 3,141.63
The NASDAQ gained 17.53 points to 8,633.72
United Technologies and Disney lifted the Dow, rising at least 1% each. Apple also contributed to the gains, gaining 0.9%. Home Depot was the biggest Dow loser, falling 1.8% after issuing a disappointing sales-growth outlook.
Tech was the best-performing S&P 500 sector, rising 0.7%, along with materials and industrials.
The Fed kept interest rates unchanged on Wednesday, following three decreases in a row. The central bank also indicated it does not expect any policy changes through at least 2020.
Fed Chair Jerome Powell said in a news conference the central bank would have to see a persistent rise in inflation before hiking rates once again
Prices for the 10-Year U.S. Treasury enjoyed gains, lowering yields to 1.80% from Tuesday’s 1.84%. Treasury prices and yields move in opposite directions.
Oil prices dropped 40 cents to $58.84 U.S. a barrel.
Gold prices improved $11.50 at $1,479.60 U.S. an ounce.
