TORONTO — Canada's main stock index moved down Thursday, led lower by weakness in energy and industrial stocks, while U.S. markets were mixed but largely positive as tech stocks rose.
“Yesterday was pretty pivotal as far as market movements,” said Michael Greenberg, senior vice-president and portfolio manager at Franklin Templeton Investment Solutions. Investors reassessed expectations for whether the U.S. Federal Reserve would cut interest rates this year, and by how much. In New York, the Dow Jones industrial average was down 2.43 points at 38,459.08. The S&P 500 index was up 38.42 points at 5,199.06, while the Nasdaq composite was up 271.84 points at 16,442.20.The wholesale inflation report doesn’t change the fact that inflation has been higher and stickier in the U.S., said Greenberg, “but it at least tempered it a little bit.”“And it might ...
With earnings season coming up, It will be interesting to see whether companies meet or even beat expectations, which have been rising amid strong market performances and optimism about artificial intelligence, said Greenberg.The Canadian dollar traded for 73.04 cents US compared with 73.15 cents US on Wednesday.
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