Connect with us

Breaking

Toronto stock market heads higher amid positive earnings news, rising oil

Published

on

Facade of the Toronto Stock Exchange (ShutterStock image)

Facade of the Toronto Stock Exchange (ShutterStock image)

TORONTO — The Toronto stock market market was higher Thursday amid positive earnings reports from Facebook, Potash Corporation of Saskatchewan and automaker Ford.

The S&P/TSX composite index rose 61.1 points to 14,663.98. The Canadian dollar lost more ground in the wake of Wednesday’s announcement from the Federal Reserve that left markets with the impression that the central bank will start hiking rates around the middle of this year. The loonie lost 0.11 of a cent to 79.76 cents US, adding to the three-quarters of a cent slide racked up in the previous session.

The Fed said it would be patient in beginning to normalize monetary policy while at the same time it pointed out a string of positives about the American economy, including that economic activity is expanding at a solid pace.

New York indexes were higher but still weighed down by worries the Fed might be raising rates too soon.

The Dow Jones industrials were ahead 56.19 points to 17,247.56, the Nasdaq gained 1.81 points to 4,639.8 and the S&P 500 index was 3.07 points higher to 2,005.23.

Energy stocks helped lift the TSX as oil prices advanced 34 cents to US$44.79 a barrel.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Maria in Vancouver

Lifestyle2 weeks ago

Nobody Wants This…IRL (In Real Life)

Just like everyone else who’s binged on Netflix series, “Nobody Wants This” — a romcom about a newly single rabbi...

Lifestyle3 weeks ago

Family Estrangement: Why It’s Okay

Family estrangement is the absence of a previously long-standing relationship between family members via emotional or physical distancing to the...

Lifestyle2 months ago

Becoming Your Best Version

By Matter Laurel-Zalko As a woman, I’m constantly evolving. I’m constantly changing towards my better version each year. Actually, I’m...

Lifestyle2 months ago

The True Power of Manifestation

I truly believe in the power of our imagination and that what we believe in our lives is an actual...

Maria in Vancouver3 months ago

DECORATE YOUR HOME 101

By Matte Laurel-Zalko Our home interiors are an insight into our brains and our hearts. It is our own collaboration...

Maria in Vancouver4 months ago

Guide to Planning a Wedding in 2 Months

By Matte Laurel-Zalko Are you recently engaged and find yourself in a bit of a pickle because you and your...

Maria in Vancouver4 months ago

Staying Cool and Stylish this Summer

By Matte Laurel-Zalko I couldn’t agree more when the great late Ella Fitzgerald sang “Summertime and the livin’ is easy.”...

Maria in Vancouver5 months ago

Ageing Gratefully and Joyfully

My 56th trip around the sun is just around the corner! Whew. Wow. Admittedly, I used to be afraid of...

Maria in Vancouver6 months ago

My Love Affair With Pearls

On March 18, 2023, my article, The Power of Pearls was published. In that article, I wrote about the history...

Maria in Vancouver6 months ago

7 Creative Ways to Propose!

Sometime in April 2022, my significant other gave me a heads up: he will be proposing to me on May...