Canada’s main stock index opened higher on Wednesday, helped by energy shares, after the U.S. inflation data reinforced expectations for a Federal Reserve interest-rate cut next month.
The TSX forged ahead 16.12 points to open Wednesday at 24,939.13, not by much, but a new all-time higher just the same.
The Canadian dollar slid 0.18 cents to 71.53 cents U.S.
Suncor Energy raised its quarterly dividend after the integrated oil and gas firm beat estimates for third-quarter profit on higher oil production and demand for refined products. Suncor took on $1.48, or 2.8%, to $54.64.
ON BAYSTREET
The TSX Venture Exchange restored 5.11 points to 602.81.
Eight of the 12 subgroups were in the red, however, during the first hour. Energy slid 0.7%, while health-care and consumer staples each shed 0.4%.
The four gainers were led by information technology, ahead 1.3%, gold, inching up 0.3%, and financials, edging up 0.1%.
ON WALLSTREET
U.S. stocks were flat Wednesday as investors look to keep a postelection rally going after a key inflation report was inline with expectations.
The Dow Jones Industrial index inched back up 9.03 points to 43,920.01.
The S&P 500 dipped 7.22 points to 5,976.36.
The NASDAQ Composite slid 58.22 points to 19,223.18.
Tesla, which has been among the biggest winners following the election, was up again by 3%.
The October consumer price index accelerated a tad to a 2.6% annual rate, matching the consensus estimate from economists polled by Dow Jones. Core prices, which exclude food and energy from the reading, rose 3.3% last month, which also matched estimates.
Prices for the 10-year Treasury gained ground, lowering yields to 4.41% from Tuesday’s 4.43%. Treasury prices and yields move in opposite directions.
Oil prices docked 78 cents to $67.34 U.S. a barrel.
Prices for gold dipped $6.50 an ounce to $2,599.80 U.S.
