Usbeat US economic data partially offset recent optimism about further interest rate cuts.
After the opening of yesterday’s bandh, the benchmark S&P/TSX Composite Index achieved land, but still closed 24.97 points (or 0.08%) at 29,731.98.
Six out of 11 sectors today gained benefits, leading the material area pack.
As close to the third quarter of this year, investors recently booked profits from a record rally when the index hit a new height.
In the US, a report released by the Labor Department unexpectedly showed an expanded bridge-back by claims for the first time for the US unemployment benefits for the week ended on 20 September.
The Department of Commerce also released separate reports, including the orders of sustainable goods in August, as well as the GDP growth in the second quarter, already strong-to-un-oriented GDP growth as well as an unexpected increase.
These numbers have now reduced expectations for the excess rate cut by the US Federal Reserve this year, in which traders were pricing.
On the Canadian Economic Front, statistics Canada data showed that the average weekly income in July increased by 3.3% year-over year to C $ 1,307.86, which decreased slightly by 3.6% in June.
The yield on 30-year-olds increased to 3.68%, marking an increase of 0.01% from the previous session.
On 17 September, the Bank of Canada cut its major interest rate by 2.5%, causing a benchmark to the benchmark for the grazing rates that usually follow the major lending rate.
Fixed mortgages are not determined by the central bank, but bonds are affected by market yields and therefore has an effect.
The results of a survey of the Royal Lapage released today have shown that despite the fall in interest rates, high inventory and a soft housing market, most Canadians are choosing to delay their purchase plans for another year because they want to see stability from prevailing economic uncertainty.
The US Supreme Court is ready to start its hearing on the appeal of the trump administration’s lower American court’s appeal, which illegally considers the “mutual tariff” in November, and is likely to pronounce a verdict by mid -2026. One is, business talks between Canadian and American officials to prevent “high tariffs” are now in a stagnation.
In his attempt to move away from the decade dependence on the US for its business relations, Canada is diversifying its business partners.
A few days ago, Canadian Prime Minister Mark Carney said he had “creative talks” with Chinese Premier Lee Kiang.
A high-level delegation from Canada is set to visit India to frame a new bilateral trading structure.
Canada has allegedly planned to have a duty-free access to 95% of its exports to Indonesia in the next eight to 12 months. This is Canada’s first bilateral trade agreement with an ASEAN country.
On the trade front, the software Major Blackberry reported an earning of $ 0.03 per share, beating the estimates of $ 0.01. Former mobile manufacturing company which now specializes in cyber security software posted a revenue of $ 129.6 million and reported the benefit of the second quarter of US $ 13.3 million compared to a loss of US $ 19.7 million a year ago.
The major fields obtained in today’s trade were materials (1.11%), communication services (0.55%), utilities (0.47%), and consumer discretionary (0.28%).
Among the individual shares, SSR Mining Inc. (4.35%), Novold Race Inc. (3.83%), Endeavor Silver Corp (3.40%), Northland Power Inc. (1.72%), and Magna International Ink (1.50%) were major beneficiaries.
The major areas lost in today’s trade were consumers staples (0.47%), real estate (0.56%), healthcare (1.31%), and IT (2.51%).
Among the individual shares, dye and Durham Limited (7.38%), Nakshatra Software Inc. (5.95%), CGI Group Inc. (3.36%), Shopify InC (3.33%), and Bausch Health Companies Inc (2.49%) were notable.
Brookfield business partners LP (12.46%) and Blackberry Limited (9.11%) were among the major market-moving stocks today.
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