Canadian And U.S. Markets Rise Despite Weak Metals And Utilities Stocks
2023.11.01 10:48
Today, the S&P/TSX Composite Index in Canada closed up by 16.71 points or 0.09% at 18,873.47, despite a decline in metals and utilities stocks, according to Greg Taylor from Purpose Investments. Meanwhile, U.S. markets also experienced growth with the rising by 123.91 points, the increasing by 26.98 points, and the gaining 61.76 points. This surge in U.S. markets comes ahead of Apple (NASDAQ:)’s Q3 earnings release and crucial upcoming payroll data that may influence central bank decisions.
Statistics Canada reported a flat economy with a slight contraction in Q3, while the Bank of Canada maintained its key rate amidst its aggressive hiking cycle. The Canadian dollar traded for 72.09 cents U.S.
On the commodities front, mixed movements were observed. The December crude contract was down by US$1.29 at US$81.02 per barrel, while the December contract rose by 22 cents. The December gold contract saw a decrease of US$11.30, and the December contract dipped by one cent.
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