Thursday, July 31st33.1°C
21450
21755

Fed stimulus hope moves markets

The Toronto stock market was higher Wednesday as commodity prices gained ground and traders looked ahead to another dose of economic stimulus from the U.S. Federal Reserve.

The S&P/TSX composite index rose 30.56 points to 12,312.92 while the TSX Venture Exchange edged up 3.09 points to 1,187.02.

The Canadian dollar rose 0.06 of a cent to 101.46 cents US.

U.S. markets also advanced amid hopes for a resolution to the so-called fiscal cliff, an end-of-year deadline when automatic steep spending cuts and significant tax increases are set to take place. With economic growth already weak, the worry is that the two moves would slash growth further and send the U.S. back into recession, sending shockwaves around the world.

The Dow Jones industrials gained 25.04 points to 13,273.48, the Nasdaq was up 1.22 points to 3,023.52, and the S&P 500 index rose 2.52 points to 1,430.36.

The Fed is widely expected to announce a new bond-buying program at the end of its two-day policy meeting later Wednesday to replace one that's about to expire.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX15330.74-194.08
S&P CDNX1001.52-9.58
DJIA16563.30-317.06
Nasdaq4369.773-93.129
S&P 5001930.67-39.40
CDN Dollar0.9165-0.0004
Gold1310.00+6.70
Oil97.88-0.29
Lumber327.10+2.70
Natural Gas3.73-0.017

 
Okanagan Companies
Pacific Safety0.18-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.21-0.01
Cantex0.085+0.02
Anavex Life Sciences0.262+0.002
Metalex Ventures0.08-0.005
Russel Metals35.23+0.01
Copper Mountain Mining2.75-0.08
Colorado Resources0.205-0.015
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.03-0.005
Mission Ready Services0.150.00

 



22557

FEATURED Property
19412081205-1128 Sunset Drive
1 bedrooms 1 baths
$419,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Take charge of your debt

Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...

_








Member of BC Press Council


22707